The United States Department of Agriculture (USDA) building is located at 8 Thacher Lane in Wareham, Massachusetts. The 8,400-square foot building was built in June 2018 and is situated on 3.4 acres, which includes 1.6 acres for the building and an additional 1.8 acres of excess land which could be demised and sold separately as a pad site. This USDA building presents an opportunity for an investor to acquire a new, custom-designed building for this mission critical government agency. This new construction 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.
USDA, is the U.S. federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food. It aims to meet the needs of farmers and ranchers, promote agricultural trade and production, work to assure food safety, protect natural resources, foster rural communities and end hunger in the United States and abroad. The USDA is headquartered in Washington, D.C. The agency has a 2018 budget of approximately $140 billion, of which 82 percent, or $117 billion, is associated with mandatory programs required by law. The U.S. Department of Agriculture has over 100,000 employees staffing approximately 33 separate agencies and offices. The employees are located in every U.S. state, U.S. territories, and in many foreign countries.
Wareham is a town in Plymouth County, Massachusetts, United States. As of the 2010 census, the town had a population of 21,822. Wareham has a number of distinct recognized subsections including Onset, Wareham Center, West Wareham, East Wareham, and Weweantic. Historically, the cranberry industry has dominated Wareham’s economy, as evidenced by the fact that the main local road is known as Cranberry Highway (Route 28) and one of the world’s largest cranberry growers, the A.D. Makepeace Company (a founder of the Ocean Spray growers’ cooperative), is headquartered in Wareham. The University of Massachusetts Cranberry Research Station is also located in Wareham, as is the U.S. Department of Agriculture’s Cranberry Marketing Committee.
- New 10-Year Lease to USDA Through October of 2028
- U.S. Government Guarantee (AA+ Credit Rating, S&P)
- Build-to-Suit for USDA
- USDA had a 2018 budget of $140 Billion
- Two (2) Five-Year Options Each with 10% Shell Rent Increases
- Close Proximity/Access to Interstates 195 and 495