HC Government Realty Trust, Inc. Announces the Acquisition of a Community-Based Outpatient Clinic in Benton Harbor, Michigan
Photograph of the VA CBOC Facility in Benton Harbor, MI
WINSTON-SALEM, NC – HCGRT is pleased to announce the acquisition of a 22,731 square-foot facility renovated-to-suit for a Community-Based Outpatient Clinic (CBOC) located in Benton Harbor, Michigan. The facility is leased to the U.S. Department of Veterans Affairs which is utilizing the space to provide primary care and specialty health services. The clinic offers mental health services, nutritional counseling, laboratory services, and PTSD treatment to U.S. veterans. The lease commenced in October 2022 with a total lease term of 15 years.
HCGRT Chief Operating Officer John W. Braswell added the following statement to today’s announcement:
“Our closing of the VA CBOC in Q4 of 2022 is our first property in the State of Michigan and augments our business plan to strengthen and diversify our portfolio characteristics by investing in newly constructed or renovated to suit buildings with long lease terms to agencies that provide mission-critical services to the public. This modernized facility is designed to improve access for disabled veterans, to treat an additional 1,000 veterans, and to provide specialized services not previously available. We are honored to help facilitate VA’s needs as part of their care for our country’s veterans.”
HCGRT’s real estate portfolio currently includes 33 properties representing approximately 613,000 rentable square feet across 12 different agencies located in 21 states.
About HC Government Realty Trust, Inc.
HC Government Realty Trust, Inc. was formed in 2016 with the purpose of acquiring and operating GSA properties, which are full-faith credit obligations of the U.S. Government. GSA and VA -leased real estate asset classes typically possess a highly stable tenant base, long-term lease structures and low risk of tenant turnover. The Company’s initial portfolio consists of U.S. Government tenant agencies, including a number of the U.S. Government’s largest and most essential agencies, such as the Drug Enforcement Administration, the Federal Bureau of Investigation, the Social Security Administration and the Department of Veterans Affairs. For more information, please visit our corporate website at www.hcgovtrust.com.
Released April 4, 2023