Investment Offering 2 Office Properties Offered at $9,250,000 in Bakersfield, CA

Colliers International, along with Robertson & Associates Commercial Real Estate, is pleased to present a unique investment opportunity to acquire 5100 Young Street. 5100 Young Street is a two-building single story office building development containing 37,680 square feet, which is 94.62% lease to the State of California. The meticulously maintained project is situated on 3.35 acres located in Southwest Bakersfield in the Gosford Business Park. Ownership has maintained a vacancy of 2,027 square feet in Building B to accommodate expansion for one of the existing tenants, who has expressed a desire to expand into this space in the near future.
Building A was constructed in 2009 and is leased to three State of California agencies, Fish & Game, Office of the Inspector General, and CDRC Office of Financial Services. Building B was constructed in 2014, as a Silver “LEED” certified development, and is leased to the California Department of Corrections and Rehabilitation. A secure parking area is located on the east side of building B for the Office of Inspector General’s use (a tenant in Building A).
5100 Young Street provides an investor with the opportunity to acquire a high-quality asset, with strong credit tenants at a price that is well below replacement costs. The increasing costs of new construction, along with the lack of available land, both barriers to entering the market with competing product at competitive rates, make this an excellent opportunity to acquire. The offering represents a compelling reason for investors seeking an occupied office building with under market rents, providing upside in the future as leases mature.