State of Ohio | Enviro. Protection Agency 347 N Dunbridge Rd 40,592 SF Office Building Bowling Green, OH 43402 $3,816,800 ($94.03/SF) 10.50% Cap Rate

Northmarq, on behalf of Ownership, is pleased to offer the opportunity to acquire the leasehold ownership in the Ohio Environmental Protection Agency office property located at 347 North Dunbridge Road in Bowling Green, OH 43402 (the “Property”). The Property comprises a 2-story, 40,592 square-foot office building positioned upon a ground lease with the State of Ohio through 6/30/2027.
The Property is 100% leased to The State of Ohio ("Tenant"), which carries an investment grade credit rating of AAA by S&P Global. The State is operating out of the facility as the northwest district office for the Ohio Environmental Protection Agency ("EPA"). Tenant has exhibited long-term commitment to the facility by recently exercising its third 2-year renewal option, a continuation of over 21 years of historic occupancy. The facility is located adjacent to Bowling Green State University - one of the nation's top public universities with an active enrollment of 18,793 students. The Property is well-positioned within the market at the interchange of I-75 and Wooster Street, which accrues an average combined traffic count of 66,118 vehicles per day.
The Property is offered with two years of remaining term and one consecutive option to renew for one more year at a 3% rent increase. The Offering comprises an attractive, recently renovated office property leased to an investment grade tenant with long-term historic occupancy and incentive for continued renewal. In Association With Jeff McKinney, OH Lic.#BRK.2016002560.