137 W 2nd St, Erie, PA 16507

Investment Grade Credit Tenant: Commonwealth of Pennsylvania, Department of Corrections has a AA credit rating from Fitch and Aa3 credit rating from Moody’s.

Long-Term Occupancy: The tenant has operated at this facility for over 20 years and recently signed a long-term 15-year lease extension showing their strong commitment to this location.

Inflation Resistant: 2.50% annual rent increases provide a great hedge against inflation.

Additional Parking Lot Income: UPMC Hamot Medical Center leased and maintains a majority portion of the parking lot since 2004 and recently extended their lease through 2029.

Additional Laundry Income: The landlord receives income from laundry services at the property

State DOC Bureau: Bureau of Community Corrections (BCC) was established in the early 1970s to operate community corrections centers for actively serving inmates who are nearing their release from state prison.

State-Operated Facility: A state-operated correction facility aiming to provide a safe and disciplined environment while focusing on reformation programs to aid in the transition to life after incarceration.

Limited Competition: One of ±12 community correction centers in the state of Pennsylvania. The nearest CCC facility is over 77 miles away.

Dense Population: Over 140,000 people in a 5-mile radius — Located in downtown Erie, PA.

Budget Friendly: Studies have found that Pennsylvania’s Community Corrections Centers save the PA Department of Corrections money annually by reducing the number of repeat offenders.