Investment Overview

The Mills Office Team of Marcus & Millichap has been retained to exclusively market for sale the office at 800 East 30th Street in Farmington, New Mexico. This dual tenant facility is occupied by two GSA tenants, built-to-suit in 2009 and consists of 5,953 rentable square feet. The site includes 0.82 acres and is a busy facility. The Mines Safety and Health Administration exercised their renewal option under this second-generation lease for 10-years, 5-years firm effective August 1, 2024, with the firm term expiring July 31, 2029, and the full remaining term expiring July 31, 2034, illustrating the MSHA's commitment to the location. The United States Probation office also located at this facility just renewed their lease with 15 years firm and will not expire until June 30th, 2039. This investment provides investors with a value-add opportunity with a rent escalation scheduled in 2029, creating additional value for a long-term hold or disposition upon lease renewal. This GSA building and its tenants provides investors stable returns guaranteed by the US Government (AA+ S&P credit rating). This is a busy facility located in a dense, urban area surrounded by national retailers, banks, and restaurants. This will continue to be a valuable space given the nearby San Juan Mine and the probation office services the Adult Detention Center of San Juan County.