United States Department of Veterans Affairs
Department of Veterans Affairs | 20yr Firm Term | Relocation & Expansion | On Campus
Marketing description
Colliers is pleased to present the opportunity to acquire a 26,919 square-foot United States Department of Veterans Affairs (VA) medical clinic located in Cincinnati, Ohio. The property is a 2026 build-to-suit facility on the campus of Cincinnati Children's Hospital Eastgate, with the tenant funding $4.607 million in improvements that were not amortized into the rental income stream. The clinic will serve as the relocated Clermont County CBOC, significantly expanding both the size of the facility and range of outpatient services offered.
The lease is backed by the full faith and credit of the U.S. government and features a 20-year firm term with no termination options and escalations of 7% every five years. Additionally, the lease provides 3% annual escalations to the OpEx Reimbursement, allowing it to cover the vast majority of operating expenses. The property benefits from its strategic location on the campus of a new full-service outpatient medical center that offers a comprehensive range of pediatric medical and surgical specialty clinics and services.
Investment highlights
- 20-Year Firm Term Lease - Long-term lease with no termination options and escalations of 7% every five years. Additionally, the lease provide 3% annual escalations to the OpEx Reimbursement, allowing it cover the majority of operating expenses.
- 2026 Build to Suit with Significant Unamortized Improvements - The Subject Property is a 2026 build-to-suit for the Department of Veterans Affairs. The tenant funded $4.61 million in improvements that were not amortized into the rental income stream.
- On Campus of Cincinnati Children's Hospital Eastgate - The subject property sits on the campus of the Cincinnati Children's Hospital Eastgate. The facility is a new full service outpatient medical center that offers a comprehensive range of pediatric medical and surgical specialty clinics and services.
- US Government Guaranty - The property is leased to the United States Department of Veterans Affairs, an agency of the federal government, and backed by the full faith and credit of the U.S. government.
- Relocation & Expansion - The clinic will serve as the relocated Clermont County CBOC, significantly expanding both the size of the facility and range of outpatient services offered.
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