Marcus & Millichap presents the U.S. Customs and Border Protection (CBP) building located at 933 Lapeer Avenue in Port Huron, Michigan. The 5,500-square-foot building was constructed in 1981 and is situated 1.22 acres of land. This Customs and Border Protection 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.
With more than 60,000 employees, U.S. Customs and Border Protection (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.
Port Huron is a city in the U.S. state of Michigan and the county seat of St. Clair County, about 62 miles northeast of Detroit. In 2017, the city had an estimated population of 29,051, according to the United State Census. Located along the St. Clair River, it is connected to Point Edward, Ontario in Canada via the Blue Water Bridge. The city is home to an international port that supports many local businesses in the region. Port Huron is also home to two paper mills and many businesses related to tourism and the automotive industry. The city features a historic downtown area,
boardwalk, marina, museum, lighthouse, and the McMorran Place arena and entertainment complex.
- 5,500-square-foot building constructed in 1981
- Leased to U.S. Customs and Border Protection through November 2023
- United States government guarantee (AA+ credit rating, S&P)
- First-generation lease
- Port Huron is about 62 miles northeast of Detroit and home to an international port