Marketing Description
Furman Capital Advisors is pleased to offer the opportunity to purchase a fee simple interest in a STNL Medical Office Building in Greer, SC.
Investment Highlights
• Long-Term Lease: Sale-leaseback with a new 15-year initial lease term and four 5-year options.
• Attractive Lease Structure: The Sale-Leaseback structure is Absolute Net providing a buyer with true mailbox money.
• Favorable Rent Growth: The Sale-leaseback includes 2.50% annual rent increases to hedge against inflation and provide long-term value creation.
• Class A+ Construction: The property was recently renovated to provide patients with a best-in-class healthcare experience.
• Seasoned Healthcare Provider: The Tenant, Tribe513, is a partnership between Parkside Pediatrics and Brio Internal Medicine consisting of 12 locations, 72 physicians, 375+ team members, and over 60,000 patients. Tribe513 has an MSO partnership with the Medical University of South Carolina (MUSC is not a party to the sale-leaseback).
• Award Winning Healthcare Provider: Parkside Pediatrics has been voted by the community as the “Best Pediatrician in the Upstate” and Brio has been voted “Best Primary Practice in the Upstate.”
• Abundant Market Healthcare Growth: The healthcare job market in the Upstate has grown 8.9% over the past 5-years and is expected to grow an additional 12.2% in the next 5-years.
• Highly Desirable Submarket: The property is located in one of the most desirable submarkets in the Upstate of South Carolina providing access to population density and a strong patient base.
• Booming Greater Market: The “Upstate” of South Carolina is one of America’s hottest emerging destinations and fastest growing MSA’s. Centered along the intersection of two major interstates (I-26 & I-85), the area has become host to more than 110 international firms, including BMW, Michelin, GE, Lockheed Martin Aircraft, and many more. Greenville’s revitalized downtown is ranked among “America’s Ten Best” and Spartanburg is the home of more per capita international investment than anywhere else in the country.
• High Demand Growth Market: South Carolina is a popular market for real estate investors looking to profit from the State’s rapid appreciation rates and strong economy due to the low cost of living, business friendly environment, right-to-work policies, abundant workforce, and overall high quality of life.