Erie Community Corrections Center

Investment Grade Credit Tenant: Commonwealth of Pennsylvania, Department of Corrections has a AA credit rating from Fitch and Aa3 credit rating from Moody’s.
Long-Term Occupancy: The tenant has operated at this facility for over 20 years and recently signed a long-term 15-year lease extension showing their strong commitment to this location.
Inflation Resistant: 2.50% annual rent increases provide a great hedge against inflation.
Additional Parking Lot Income: UPMC Hamot Medical Center leased and maintains a majority portion of the parking lot since 2004 and recently extended their lease through 2029.
Additional Laundry Income: The landlord receives income from laundry services at the property
State-Operated Facility: The Commonwealth of Pennsylvania Department of Corrections (DOC) Bureau of Community Corrections (BCC) was established in the early 1970s to operate community corrections centers for actively serving inmates who are nearing their release from state prison.
Reformation Focus: Erie Community Corrections Center is a state-operated correction facility aiming to provide a safe and disciplined environment while focusing on reformation programs to aid in the transition to life after incarceration.
Limited Competition: Erie Community Corrections Center is one of ±12 community correction centers in the state of Pennsylvania. The nearest CCC facility is over 77 miles away.
Strong Demographics: Over 140,000 people in a 5-mile radius — located in downtown Erie, PA.
Budget Friendly: Studies have found that Pennsylvania’s Community Corrections Centers save the PA Department of Corrections money annually by reducing the number of repeat offenders.

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Kyle Matthews