Marcus & Millichap is pleased to offer the exclusively listed U.S. Immigration and Customs Enforcement (ICE) building located in Springfield, MO. The 12,000-square foot building was constructed in 1996 and is situated on 1.05 acres of land. ICE presents an investor with the opportunity to acquire a custom-designed building for this mission critical government agency. This recent retrofit facility provides a very attractive risk-adjusted yield with a highly rated credit tenant with S&P AA- designation. General Services Administration leases offer long-term stability to an investor as these federal agencies occupy the facilities for more than 30 years, on average, with a first-generation renewal rate of approximately 96 percent. ICE plans to occupy this facility upon completion in late 2018.
ICE enforces federal laws governing border control, customs, trade and immigration to promote homeland security and public safety. ICE was created in 2003 through a merger of the investigative and interior enforcement elements of the former U.S. Customs Service and the Immigration and Naturalization Service. ICE now has more than 20,000 employees in more than 400 offices in the United States and 46 foreign countries. The agency has an annual budget of approximately $6 billion, primarily devoted to three operational directorates – Homeland Security Investigations (HSI), Enforcement and Removal Operations (ERO) and Office of the Principal Legal Advisor (OPLA). A fourth directorate – Management and Administration – supports the three operational branches to advance the ICE mission.
Springfield is the third-largest city in the state of Missouri and the county seat of Greene County. As of 2016, the Census Bureau estimated its population at 167,319. It is one of the two principal cities of the Springfield-Branson Metropolitan Area, which has a population of 541,991 and includes the counties of Christian, Dallas, Greene, Polk, Webster, Stone and Taney. Springfield’s nickname is “Queen City of the Ozarks” and it is known as the “Birthplace of Route 66”. It is home to several universities including Missouri State University, Drury
University, and Evangel University.
New 15-Year Lease to ICE
U.S. Government Guarantee (AA+ Credit Rating, S&P)
Substantial Renovations to Suit ICE-Specific Operations
Close Proximity to Interstate 44