The Federal Bureau of Investigation/MSHA Building is a government leased office building located at 1385 Eisenhower Boulevard in Johnstown, Pennsylvania. The property consists of a ±13,834 SF office building which was constructed as a build to suit for the Federal Bureau of Investigation (FBI) and Mine Safety and Health Administration (MSHA) which are both Federal tenants in 2011. The property is encumbered by a term 10-year lease which is backed by the government (AA+ S&P rated) and currently has just over four years remaining (expires 9/28/2021). The Property is 100% leased on a modified gross lease, with the tenant reimbursing the landlord for all operating expenses, plus any increases in the real estate taxes over the Base Year 2011. The lease renewal rate for government tenants is over 95% which gives an investor confidence in the asset. This investment is ideal for an investor who is seeking a stable cash flow from one of the highest credit tenants available. The Property is in a strategic part of Johnstown, PA surrounded by other Government leased properties including US Surface Mining Reclamation, US Mine Safety and Health Administration (filing department), and United Mine Workers of America. The property is also on one of the main thoroughfares which is less than a quarter of a mile from a major corridor which includes a Walmart Supercenter, Starbucks, Best Buy, Petco, Bed, Bath, and Beyond, Ross, TJ Maxx, Richland Cinemas, Panera Bread, Michaels, Chili’s, Denny’s, Sheetz and more. The property is also approximately one mile away from the University of Pittsburg at Johnstown.
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