Available Property

Social Security Administration Office
2805 Pine Mill Road
Paris, TX
$4,353,035

The subject property is a new, build-to-suit development for the United States of America’s General Services Administration located in Paris, Texas. The property consists of a 10,803 sf office building on 2.5 acres of land - 100% occupied by the Social Security Administration and Office of Disability Adjudication & Review for use as a regional office. The construction is steel and masonry block designed most cost efficiently with a high quality metal roof and sophisticated energy management system. This site comes with enough land for future growth. The site is near Highway 271, the major commercial artery through Paris. Within blocks of the Property are a host of retail and services for staff and clients including Walmart, Home Depot, Walgreens, CVS Pharmacy, Applebee’s, Burger King, Braum’s, Jack in the Box & 1st Federal Bank. The Seller develops, owns and operates various government facilities throughout the Midwest and is prepared to handle all day to day management on behalf of the investor for a modest fee. By doing so, this makes for a very secure investment with AAA credit and little to no management. Paris is 100 miles north of Dallas. Aside from being a regional healthcare hub, the largest employers are Kimberly - Clark, Campbell’s Soup and Sara Lee Bakery.

Lease Type:
The lease type is Modified Gross Lease, which is the standard format used by the U.S. General Services Administration (GSA). The initial term is for 15 years (10 years non-cancelable), after which the tenant can give a 60 day notice. The Seller has estimated all expenses based on the buildings past performance as well as a history of operating similar properties. See page 3 for the estimated Operating Expenses. Any overage will be reconciled at the end of the year. The tenant will be responsible for any increases of Property taxes and for any overtime hours that the Property is operated. It is reported that GSA leases run their entire lease term more than 80% of the time. The GSA represents many federal agencies including the Social Security Administration, Bureau of Land Management, Drug Enforcement Agency, Dept. of Agriculture, I.R.S., F.B.I., & Department of Forestry.

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