Marcus & Millichap presents the Internal Revenue Service (IRS) building located at 3971 Research Park Drive in Ann Arbor, Michigan. The 7,686-square-foot building was constructed in 1979, was remodeled in 2006, and is situated on 4.50 acres of land. This Internal Revenue Service building presents the opportunity for an investor to acquire a
building tailored for this government agency. This 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.
The Internal Revenue Service (IRS) is the revenue service of the United States federal government. The government agency is a bureau of the Department of the Treasury and is under the immediate direction of the Commissioner of Internal Revenue, who is appointed to a five-year term by the President of the United States. The IRS is responsible for collecting taxes and administering the Internal Revenue Code, the main body of federal statutory tax law of the United States. The duties of the IRS include providing tax assistance to taxpayers and pursuing and resolving instances of erroneous or fraudulent tax filings.
Ann Arbor is a city in the state of Michigan and is the county seat of Washtenaw County. In 2017, the city had an estimated population of 121,477, making it the fifth largest city in Michigan. The city is easily accessible via Interstate 94, U.S. Route 23, Michigan State Route 14, rail lines, and the Detroit Metropolitan Airport, which is only 20 minutes away. Ann Arbor is home to the University of Michigan, which shapes Ann Arbor’s economy significantly, as it employs more than 30,000 workers. The city’s economy is also centered on high technology, with several companies drawn to the area by the university’s research and development infrastructure, and by its graduates. The larger Ann Arbor metropolitan area, which includes more than 367,627 people, has consistently ranked as one of the state’s fastest growing areas in recent years.
- 18,986-square-foot building constructed in 1979 with 7, 686-square-foot leased to SSA
- Leased to the Internal Revenue Service through March 2019
- United States government guarantee (AA+ credit rating, S&P)
- First-generation lease
- Located in Ann Arbor, MI—5th largest city in the state and home to the University of Michigan