| PRICE : | $8,135,000 |
|---|---|
| CAP RATE: | 6.2% |
| PROPERTY TYPE: | Office |
| SITE SIZE: | 3.22 Acres |
| BUILDING SIZE: | 15,242 SF |
| YEAR BUILT: | 2009 |
Highlights
- • ±15,242 SF Medical Office Building located in rapidly growing Loganville, GA
- • With two years remaining on the initial lease term, the tenant is not yet prepared to discuss the lease renewal
- • Satellite MOB to Piedmont Walton Hospital
- • Endoscopy Component is grandfathered under HOPD designation (Hospital Outpatient Procedure Department)
- • Available for sale for $8,135,000 at a 6.75% cap rate
Description
Bull Realty is pleased to present the opportunity to acquire a Piedmont Healthcare Medical Center in Loganville, GA. Clearview Regional Medical Center was established in this market in 1959 and was acquired by Piedmont Healthcare on March 31, 2018 and was renamed Piedmont Walton Hospital, Inc. The practices at this location were included in that transaction.
Piedmont operates a Women’s Healthcare Clinic and a Gastroenterology Clinic which includes an Endoscopy Surgery Center at this location.
The single tenant lease is NNN with 2% annual escalations, two (2) x five (5) year options to extend at the continuing rate and continuing escalation and a Corporate Guarantee from Piedmont Healthcare. Moody’s Credit Rating on Piedmont is currently AA3 and the S&P Rating is AA-. Piedmont currently operates 19 hospitals, 57 Urgent Care Centers, 25 QuickCare locations, 1,875 Piedmont Clinic physician practice locations and more than 2,800 Piedmont Clinic members.
The property itself is ±3.22 Acres which is flat and lends itself well to expansion.
