TNP's Sponsored DST Acquires New Class A Office Building, SAIC, In Beavercreek, Ohio
IRVINE, Calif., Aug. 1, 2012 /PRNewswire/ -- Thompson National Properties, LLC (TNP) announced today the acquisition of 3745 Pentagon Blvd., an 86,928-square-foot Class A office building in the Beavercreek submarket of Dayton, Ohio, on behalf of 1031 exchange investors. TNP has successfully sponsored 10 Delaware statutory trust (DST) programs on behalf of approximately 500 DST investors since late 2008. The acquisition was financed by American National Insurance Company. The loan was originated by Wally Reid and Kelly Layne of HFF's Houston office.
A grand opening ribbon cutting ceremony took place on July 26 at 1:30 p.m. with speakers that included Ohio Lieutenant Governor Mary Taylor, Senator Chris Widener and Stu Shea, SAIC Chief Operating Officer. "The new facility in Beavercreek will enable SAIC to expand our existing capabilities to align with the Air Force's UAS research and development and testing vision," said Shea. "This expansion will continue to bring new jobs to the region within the next few years."
Science Applications International Corporation ( SAIC) has an S&P rating of A-, a $4.3 billion market cap (NYSE: SAI), and annual revenues of approximately $11 billion for its fiscal year ended January 31, 2011. SIAC opened this regional office to support innovation focused on aeronautics, human performance, logistics and manned and unmanned aircraft systems (UAS or "drones"). The property is located across from Wright Patterson Air Force Base in Beavercreek, Ohio, and is easily accessible via Interstate 675. The three-story, state-of-the-art building was completed in late June of 2012 exclusively for SAIC, a FORTUNE 500® scientific, engineering and technology applications company that uses its deep knowledge to solve problems of vital importance in national security, energy and environment, health, and cybersecurity. The company's approximately 41,000 employees serve customers in the U.S. Department of Defense, the intelligence community, the U.S. Department of Homeland Security, other U.S. Government civil agencies. For more information, see www.saic.com.
"TNP sponsors DST programs for exchange investors seeking tax-deferral under Section 1031 of the Internal Revenue Code as well as regular cash investors. TNP's DST programs invest in single credit tenant properties and multi-family, apartment communities. This latest acquisition of a credit tenant leased property is designed to satisfy investor demand for stable cash flow from an investment grade tenant," said Louis Rogers, TNP's managing director of private programs.About Thompson National Properties, LLC
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