The FDA, which has a lease that expires in the summer of 2014, occupies about 64,000 sf of office and laboratory space at the three-story structure, leaving the remaining space vacant for the moment. Given the terms of the tenancy, the property comes with ready-made income; the government's lease agreement will yield an average of approximately $2.6 million in annual gross rent for the new owner; specifically, the current rent is at $2.4 million, but that figure is scheduled for an increase in the fourth and seventh years of the lease.
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