Colliers International is pleased to present an investment opportunity, for the Social Security Administration (SSA) office located at 2502 S 2nd St., Marshalltown, Iowa. This single-tenant office building is 4,936 square feet, sits on 0.58 acres, and was a build-to-suit for the SSA/General Services Administration (GSA) in 2005. The GSA just executed a new ten-year lease, with five years firm term and an additional five years non-firm term. The interior is in the process of being updated with new carpet and paint throughout.
The SSA is an independent agency of the U.S. federal government that administers Social Security, a social insurance program consisting of retirement,disability, and survivors’ benefits. To qualify for most of these benefits, most works pay Social Security taxes on their earnings; the claimants’ benefits are based on the wage earners contributions. The SSA is headquartered in Woodlawn, Maryland. The agency includes 10 regional offices, eight processing centers, and approximately 1,300 field office, and 37 Teleservice Centers. As of 2018, about 60,000 people were employed by the SSA, with a budget of $1.06 trillion.
Marshalltown Iowa is in western Iowa and approximately 50 miles from Des Moines. Marshalltown is a business-friendly community that supportsbusiness expansion. Since the early 1990’s, economic development has assisted companies in creating more than 2,000 jobs and has spurred capital investment of more than $1.2 billion. Major employers in Marshalltown include JBS Swift & Co., Emerson Process Management Fisher Division, Hy-Vee, Iowa Veterans Home, Lennox Manufacturing, Inc, and the new $700-million Alliant Energy Power Plant.
- The Ficke Team represented the Seller.