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<div style="display: flex; flex-direction: column; margin-top: 0.15rem; width: 200px; height: fit-content; align-items: left;
 justify-content: center; font-family: Inter,sans-serif; ">
 <img src="https://cf.reverecre.com/cdn-cgi/image/w=200,h=undefined,fit=scale-down/https://storage.googleapis.com/revere-user-uploads/project%2F433cff66-639e-49a2-a840-ca3fb6886ec7%2Fd3fed3ca-1653-4cfb-8b27-b90ba15fbd94" onerror="this.style.display='none'" alt="State Of Vermont Office Building Portfolio Image" style="object-fit: cover; width: 200px;" />
 Office 
 
 State Of Vermont Office Building Portfolio
 
 Barre, VT 
 By IPA (Institutional Property Advisors)

 <a href="/user/851711b9-b507-4279-9811-d32b0cbaf89e" style="margin-top: 0.5rem; font-size: 10px; text-decoration: underline;">Joe Massa</a>
 
 Senior Managing Director
 
 
 <a href="tel: (615) 997-2848" style="margin-top: 0.25rem; font-size: 10px; text-decoration: underline;"> (615) 997-2848</a>
 

 <a href="https://platform.reverecre.com/project/433cff66-639e-49a2-a840-ca3fb6886ec7" target="_blank" style="text-decoration: underline; color: #2E74B3; text-align: left; margin-top: 0.5rem">
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 </a>
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<div style="display: flex; flex-direction: column; margin-top: 0.15rem; width: 200px; height: fit-content; align-items: left;
 justify-content: center; font-family: Inter,sans-serif; ">
 <img src="https://cf.reverecre.com/cdn-cgi/image/w=200,h=undefined,fit=scale-down/https://storage.googleapis.com/revere-user-uploads/project%2F433cff66-639e-49a2-a840-ca3fb6886ec7%2Fd3fed3ca-1653-4cfb-8b27-b90ba15fbd94" onerror="this.style.display='none'" alt="State Of Vermont Office Building Portfolio Image" style="object-fit: cover; width: 200px;" />
 Office 
 
 State Of Vermont Office Building Portfolio
 
 Rutland, VT 
 By IPA (Institutional Property Advisors)

 <a href="/user/851711b9-b507-4279-9811-d32b0cbaf89e" style="margin-top: 0.5rem; font-size: 10px; text-decoration: underline;">Joe Massa</a>
 
 Senior Managing Director
 
 
 <a href="tel: (615) 997-2848" style="margin-top: 0.25rem; font-size: 10px; text-decoration: underline;"> (615) 997-2848</a>
 

 <a href="https://platform.reverecre.com/project/433cff66-639e-49a2-a840-ca3fb6886ec7" target="_blank" style="text-decoration: underline; color: #2E74B3; text-align: left; margin-top: 0.5rem">
 View Listing
 </a>
 </div>

<div style="display: flex; flex-direction: column; margin-top: 0.15rem; width: 200px; height: fit-content; align-items: left;
 justify-content: center; font-family: Inter,sans-serif; ">
 <img src="https://cf.reverecre.com/cdn-cgi/image/w=200,h=undefined,fit=scale-down/https://storage.googleapis.com/revere-user-uploads/project%2F433cff66-639e-49a2-a840-ca3fb6886ec7%2Fd3fed3ca-1653-4cfb-8b27-b90ba15fbd94" onerror="this.style.display='none'" alt="State Of Vermont Office Building Portfolio Image" style="object-fit: cover; width: 200px;" />
 Office 
 
 State Of Vermont Office Building Portfolio
 
 White River Junction, VT 
 By IPA (Institutional Property Advisors)

 <a href="/user/851711b9-b507-4279-9811-d32b0cbaf89e" style="margin-top: 0.5rem; font-size: 10px; text-decoration: underline;">Joe Massa</a>
 
 Senior Managing Director
 
 
 <a href="tel: (615) 997-2848" style="margin-top: 0.25rem; font-size: 10px; text-decoration: underline;"> (615) 997-2848</a>
 

 <a href="https://platform.reverecre.com/project/433cff66-639e-49a2-a840-ca3fb6886ec7" target="_blank" style="text-decoration: underline; color: #2E74B3; text-align: left; margin-top: 0.5rem">
 View Listing
 </a>
 </div>

Institutional Property Advisors (IPA), a division of Marcus & Millichap, is a leading commercial real estate services firm. IPA’s real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer investors customized solutions for the acquisition, disposition and financing of properties and portfolios across the United States and Canada.

Senior Managing Director

Director & First Vice President

Investment Associate

Senior Director Investments

• OFFERING PRICE: $31,685,068
• CAP RATE: 7.41%
• TOTAL AREA: 156,158 SF Across 3 Buildings | 143,256 SF (92% of the GLA) Leased to State of Vermont – Fitch AA+

• AVAILABILITY: As a Portfolio or Individually
• MARKETS: Barre, Rutland & White River Junction
• TENANT CREDIT: 4 of 5 tenants feature strong government or institutional credit
• CONSTRUCTION: Three modern office buildings, all built after 2010
• LEASE PROFILE: Multiple long-term leases with state and government agencies
• MARKET POSITIONING: Strategically located assets with limited direct competition

PORTFOLIO OVERVIEW & PRICING

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Institutional Property Advisors is pleased to exclusively present for sale the State of Vermont Office Portfolio, consisting of three Class-A office buildings totaling 155,964 square feet in Barre, Rutland, and White River Junction.”

The portfolio is leased to a diversified mix of State of Vermont government agencies, healthcare, and education tenants, including the Vermont Department of Transportation (VTrans), Agency of Human Services, Department of Labor, Veterans Affairs, and the Community College of Vermont (CCV – Rutland).

All five tenants have occupied their respective facilities for 10+ years, with anchor tenants carrying minimum remaining lease terms of approximately 8.5 years. The properties support essential state functions and provide durable tenancy backed by government and institutional users.

Joe Massa is an industry leader in investment advisory services for clients focused on medical office and office properties, with over a decade of experience executing deals coast to coast. Prior to joining IPA, he was an executive managing director for another national firm, where he focused exclusively on office and medical office investment real estate. During his tenure, Mr. Massa consistently ranked in the top ten percent of brokers in the United States, Latin America and Canada. He received his BA in business from the Kelley School of Business at Indiana University. Mr. Massa obtained his CCIM designation in 2010 and served as the CCIM Nashville Chapter President in 2014. He received his SIOR designation in 2014.

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PORTFOLIO OVERVIEW & PRICING

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