Marcus & Millichap presents the U.S. Customs and Border Protection (CBP) building located at 1700-1800 NE 7th Avenue in Dania Beach, Florida. The 40,502-square-foot building was constructed in 2008 and is situated on 4.37 acres of land. The CBP building presents the opportunity for an investor to acquire a building tailored for this government agency. The 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.
With more than 60,000 employees, CBP is one of the world’s largest law enforcement organizations and is charged with keeping terrorists and their weapons out of the U.S. while facilitating lawful international travel and trade. As the United States’ first unified border entity, CBP takes a comprehensive approach to border management and control, combining customs, immigration, border security, and agricultural protection into one coordinated and supportive activity. The men and women of CBP are responsible for enforcing hundreds of U.S. laws and regulations. On a typical day, CBP welcomes nearly one million visitors, screens more than 67,000 cargo containers, arrests more than 1,100 individuals, and seizes nearly six tons of illicit drugs. Annually, CBP facilitates an average of more than $3 trillion in legitimate trade while enforcing U.S. trade laws.
Dania Beach is a city in Broward County, Florida. According to the United States Census Bureau, the city’s population was 32,030 in 2017. It is part of the South Florida metropolitan area, which was home to 6,158,824 people in 2017. Dania Beach is situated between Fort Lauderdale and Hollywood, adjacent to Fort Lauderdale/Hollywood International Airport and Port Everglades Seaport. Highway accessibility in the city is provided by Interstates 595 and 95. In recent years, the city’s economy has experienced a boost from maritime-related industries because of the presence of institutions and firms such as Bass Pro Shops Outdoor World, Florida Atlantic University’s SeaTech, and the American Maritime Officers training and research center.
- 40,502-square-foot building constructed in 2008
- Leased to U.S. Customs and Border Protection through December 2023
- United States government guarantee (AA+ credit rating, S&P)
- First-generation lease
- Located in Dania Beach in the South Florida MSA, between Fort Lauderdale and Hollywood