1514 S Broad St
Mobile, AL 36605
Industrial Property For Sale

The Homeland Security and State Probation Office in Mobile, Alabama is a 20,700 square foot facility that is 100% leased to two tenants, the U.S. Federal Government and State of Alabama. This building was comprehensively renovated according to the specific needs of the tenants, including construction of new space for the federal government, with completion estimated for September 2018. This location is mission-critical to both tenants, housing two key divisions within the U.S. Department of Homeland Security (DHS) Immigration and Customs Enforcement (ICE), along with the State of Alabama Probation and Parole Mobile Field Office. Homeland Security is the anchor tenant within the building, occupying approximately 70% of the space via a new 12-year firm General Services Administration (GSA) lease, with no termination rights. The lease is guaranteed by the United States of America, which has a credit rating of Aaa from Moody’s Investor Service. GSA has a long-standing reputation as a tenant with one of the highest possible renewal probabilities, with historical data published by GSA reflecting a retention rate that typically exceeds 95% across their portfolio of over 8,000 leases nationwide. DHS is heavily invested in this location, as tenant improvement costs exceeded $2.7 million, creating space that is extremely difficult and cost prohibitive to replicate. DHS-ICE utilizes this facility for their Enforcement and Removal Operations (ERO) and Homeland Security Investigations (HSI) divisions. ERO is the division of ICE that is charged with the mission of identifying, arresting, and removing individuals that are a risk to national security or public safety. HSI is a critical investigative arm of the Department of Homeland Security and is a vital U.S. asset in combating criminal organizations illegally exploiting America’s travel, trade, financial, and immigration systems. The State of Alabama leases the remaining 30% of the square footage within the facility, with approximately 7 years remaining on a new 15-year lease term which commenced in 2010. This location serves as the State Probation and Parole Mobile Field Office, and is responsible for all probation and parole duties within the county of Mobile, which has over 3,400 parolees. The Homeland Security and State Probation Office in Mobile benefits from a strategic location within the city, situated one mile from the Mobile Downtown Airport, and in close proximity to other key government offices including Army National Guard and U.S. Coast Guard. The property is also located within 2.5 miles of the Port of Mobile, the 9th largest port in the United States ranked by tonnage in 2014.