PA DEP Bureau of Laboratories 2575 Interstate Dr

The Ficke Team of Colliers is pleased to present to qualified investors the opportunity to purchase the Commonwealth of Pennsylvania Department of Environmental Protection (DEP) Bureau of Laboratories Headquarters located at 2575 Interstate Drive in Harrisburg, PA. Originally built in 1997 and fully renovated to suit in 2007, the DEP operates their Bureau of Laboratories Headquarters from this location. The subject property is 100% leased on a long-term lease through December 31st, 2031 and is fully guaranteed by the Commonwealth of Pennsylvania (Moody’s Aa3) with a 7.4-year lease term remaining.
Investors will benefit from the long-term cash flow secured by this mission-critical state agency with operating expense reimbursement offered by the attractive modified net lease structure. An assumable loan is available and provides qualified borrowers a below-market interest rate of 5.97% with a current loan balance of approximately $17MM and maturity date of December 15th 2031. Supplemental income is available through the electricity profit sharing and demand response agreements in place with Grid Power Direct and NuEnergen.
The Bureau of Laboratories mission is to protect deliver timely, accurate analytical information in support of Pennsylvania’s environmental protection programs and to help assure the quality of statewide laboratory services through laboratory accreditation and improvement activities. This location is the primary lab for state testing, providing a higher barrier to relocation. The Bureau provides a variety of services including testing of inorganic, organic, bacteriological, and radioactive substances present in air, drinking water, non-potable water, and solid environmental samples.