U.S. Department of Veterans Affairs

The Ficke Team of Colliers is pleased to present to qualified investors the opportunity to acquire the Department of Veterans Affairs – Community Based Outpatient Clinic (CBOC) located at 1106 Military Blvd in Decorah, Iowa. The subject property is a 2025 build-to-suit development designed specifically to meet the U.S. Department of Veterans Affairs’ rigorous specifications. This first-generation lease includes a 10-year lease term with no termination options, offering long-term cash flow backed by an investment-grade federal tenant (S&P AA+). The VA has invested substantial capital into this mission-critical facility, which ensures high-quality healthcare access for the growing veteran population in northeast Iowa.
Decorah is the county seat of Winneshiek County, nestled in the scenic Upper Iowa River Valley and home to a robust and aging population. Decorah’s regional medical hub status makes it a natural location for an expanded VA presence. The 16,879-square-foot facility sits on a large 3.18-acre parcel, offering significant space for parking and future growth. The VA’s expanded Decorah CBOC is aligned with its broader federal healthcare initiative to enhance services in rural America.
As of Fiscal Year 2025, the U.S. Department of Veterans Affairs (VA) is operating under a proposed budget of $369.3 billion, reflecting a 10% increase over the FY 2024 budget. This funding supports critical improvements to VA medical facilities and enhances services to veterans, caregivers, and their families.
The Decorah CBOC will provide a wide range of medical services, including primary care, behavioral health, women’s health, and lab services. The facility replaces a smaller existing clinic and greatly expands the VA’s footprint in the region. The development incorporates the latest federal guidelines for energy efficiency, sustainability, and accessibility.

Available