Social Security Administration

  • Government
Rome, GA
Location: Georgia


Offering Memorandum
  • Building Size: 14,500 sq/ft

Property Information

  • Type: Government
  • Year Built : 2008
  • Building Size : 14500

Investment Overview

Marcus & Millichap is pleased to offer the exclusive listing of the Social Security Administration (SSA) office located at 480 Riverside Parkway NE in Rome, Georgia. The 14,500-square foot building was constructed in 2008 and is situated on 2.53 acres of land. The SSA building presents an opportunity for an investor 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.

SSA is an independent agency of the United States federal government that administers Social Security, a social insurance program consisting of retirement, disability, and survivors benefits. To qualify for most of these benefits, most workers pay Social Security taxes on their earnings; the claimants benefits are based on the wage earners contributions. SSA is headquartered in Woodlawn, Maryland, just to the west of Baltimore, at what is known as Central Office. The agency includes 10 regional offices, eight processing centers, approximately 1,300 field offices, and 37 Teleservice Centers. As of 2007, about 62,000 people were employed by SSA. Social Security is the largest social welfare program in the United States. The Social Security Administration has been named the sixth best place to work in the federal government.

Rome is the largest city in and the county seat of Floyd County, Georgia, United States. Located in the foothills of the Appalachian Mountains, it is the principal city of the Rome, Georgia, Metropolitan Statistical Area, which encompasses all of Floyd County. At the 2010 census, the city had a population of 36,303. It is the largest city in Northwest Georgia and the 19th largest city in the state.

Investment Highlights

• New 10-Year Lease, 5-Years Firm
• U.S Government Guarantee (AAA Credit Rating, Moodys)
• Recent 2008 Construction
• Property Sits on 2.53 Acres Allowing Investor Opportunity for Future Expansion

Facilities

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Contact Agent

Geoff Ficke

First Vice President Investments Director, Net Leased Properties National Office and Industrial Properties

License: TX 0593051

Zack Ficke

Government Specialist

License: TX 688207