Globalstar Headquarters
Office | 66,000 SqFt
Marketing description
Opportunity to acquire the Globalstar (NASDAQ: GSAT) Headquarters in Covington, Louisiana. This Class A, three-story office building, constructed in 2018, is situated on 4.35 acres. The tenant currently occupies the first and second floors, with a lease in place for the entire building. The third floor remains in shell condition, providing an excellent opportunity for custom build-out and future expansion for an owner-occupant.
Located in Covington, Louisiana, within a premier Northshore business corridor, this property offers excellent access to a major regional market just 41 miles from New Orleans. The area is supported by strong surrounding demographics, including above-average household incomes and home values, making it an attractive location for businesses and professionals alike. Tenants benefit from an ideal balance of a high-quality professional environment, convenient accessibility, and the desirable quality of life the Northshore is known for.
Investment highlights
- Owner Occupant Opportunity to Purchase the Building & Occupy the Third Floor
- Single-Tenant Lease with Globalstar, Inc., a Publicly Traded Satellite Communications Company
- Tenant Occupies 100% of the 66,000 SF Building as Corporate Headquarters
- 10-Year Initial Lease Term: February 1, 2019 – January 31, 2029
- Tenant Responsible for Taxes, Insurance, Utilities, Maintenance, and all Operating Costs
- Globalstar Willing to Extend Beyond its Current Lease Term for the Majority of its Current Occupied Footprint
- Third Floor Shell Space can be Configured for Multiple Tenants
- Fitness Center with Locker Rooms and Showers
- Fully Equipped Kitchens and Break Areas
- Multiple Training Rooms, Conference Rooms, and Collaboration Spaces
- Outdoor Gathering Area for Employees and Visitors
- After-hours Card Key Access Control System
- 600 kW Full-building Backup Generator
- Roll-up Door Supporting Operational and Technical Users
- 100% Sprinklered Facility
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