799 Tech Center Drive , A

Description

100% leased, this multi-use building is located in the Durango Tech Center just west of downtown Durango. Solid cap rate with long term, established tenants in place. 7,195 sf is currently occupied by a GSA tenant until June 2031, with a five year renewal option that would extend them into June of 2036. This lease is all inclusive as is typical with government leases. A portion of their rent goes towards utilities, taxes, insurance, janitorial, and maintenance. 2,600+ sf of office and shop space is occupied by an international exploration company whose lease expires 9/2022. In addition to monthly rent, they pay a prorata share of taxes, insurance, utilities and CAM fees. 3,100 sf of upper level space was just leased to a local start-up who is in the boating and marine industry. There is plenty of on-site parking, and the property enjoys easy access from Highway 160 and Tech Center Drive. This is an ideal 1031 exchange property, or perfect for any investor looking for a strong cap rate with very strong tenants on long term leases already in place.