Office
State of Vermont Anchored
219 N Main St, Barre, VT 05641
Listing Price: $10,952,000
Investment Overview
Institutional Property Advisors is pleased to exclusively present Barre City Place, 219 North Main Street, a 100 percent leased, 80,423-square-foot, four-story office building constructed in 2014 in downtown Barre, Vermont. The State of Vermont (Fitch AA+) occupies 90.4 percent of the building for the Agency of Transportation through April 2042, with 2.75 percent annual increases and one ten-year renewal option. The RehabGYM, a physical therapy and rehabilitation practice in occupancy since 2013, leases the balance through November 2028. Offered at $10,952,000, a 7.00 percent cap rate.
State of Vermont Anchored
Investment Highlights
- State of Vermont (Fitch AA+) Anchors 90.4% of the Building for the Agency of Transportation Through April 2042
- 2.75% Annual Rent Increases on Both Leases, Plus a 10-Year Renewal Option on the State Lease
- 100% Leased With a 14.4-Year Weighted Average Lease Term
Listing Price: $10,952,000
Investment Highlights
- State of Vermont (Fitch AA+) Anchors 90.4% of the Building for the Agency of Transportation Through April 2042
- 2.75% Annual Rent Increases on Both Leases, Plus a 10-Year Renewal Option on the State Lease
- 100% Leased With a 14.4-Year Weighted Average Lease Term
Investment Overview
Institutional Property Advisors is pleased to exclusively present Barre City Place, 219 North Main Street, a 100 percent leased, 80,423-square-foot, four-story office building constructed in 2014 in downtown Barre, Vermont. The State of Vermont (Fitch AA+) occupies 90.4 percent of the building for the Agency of Transportation through April 2042, with 2.75 percent annual increases and one ten-year renewal option. The RehabGYM, a physical therapy and rehabilitation practice in occupancy since 2013, leases the balance through November 2028. Offered at $10,952,000, a 7.00 percent cap rate.
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