Built in 1989, the structure sits on 2.14 acres and is fully leased to the DEA for an undisclosed but long-term period of time. It is the former home of the local Federal Bureau of Investigation, which recently relocated to a new building up the street.
The Class B property, which is located at 111 Greencourt Road, had originally been listed with Grubb & Ellis | Harrison & Bates for $2.55 million. The listed lease rate per-sf is $18.00. "The sale was a little more complex because the property is on a long-term ground lease," Grubb & Ellis | Harrison & Bates senior vice president Michael Lowry explains to GlobeSt.com. "The land itself doesn't come with the building, and there are about 70 years remaining on that lease.
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