Pinnacle Center – 7900 Airways Boulevard Southaven, Mississippi
Investment Summary
- Square Footage: 73,859
- Year Built: 2002-2003
- Occupancy: 94.2%
- Net Operating Income: $876,373
The Offering
CB Richard Ellis Memphis, LLC is pleased to present for sale the Pinnacle Center located in Southaven, Mississippi. Constructed from 2002 to 2003, the Pinnacle Center consists of three (3) office buildings containing approximately 73,859 square feet.
The Property, at 94.2% leased, has evolved into the preferred off campus medical office complex for the area, underscored by its strong representation of medical office tenants which include Concorde Career College, Boston Baskin Cancer Foundation (Baptist Medical Group), Memphis Obstetrics & Gynecology, Carnahan Clinic (Methodist Healthcare), and Physiotherapy Associates.
Pinnacle Center represents an excellent opportunity to acquire the preferred off campus medical office building within an established and growing regional medical corridor.
Investment Highlights
- Regional Medical Corridor Location: Anchored by Baptist Memorial Hospital-DeSoto, the area immediately surrounding Pinnacle Center has evolved into the preferred location for medical service providers in Northwest Mississippi.
- Established Medical Tenancy: Pinnacle Center is supported by a strong credit medical tenancy which includes regional and local medical service providers who maintain affiliations with the Memphis MSA’s largest hospital systems, Baptist Memorial Health Care and Methodist Le Bonheur Healthcare. Additionally, Concorde Career College, with an emphasis in medical career training programs, maintains a large and high performing campus within Pinnacle Center.
- Strong Annual Cash Flows: With an approximate weighted average remaining lease term of six (6) years and 94.2% leased, Pinnacle Center provides strong cash flow and robust equity returns.
- Positive Demographic Trends: Southaven, Mississippi, is a thriving suburb of the Memphis MSA and the fourth largest city in the State of Mississippi. Experiencing a 75% population increase since 2000, Southaven has emerged as the regional retail, medical, and employment hub for Northwest Mississippi.
For More Information:
- Johnny Lamberson
CBRE Memphis Investment Properties
+1 901 260 1060
john.lamberson@cbrememphis.com
- Terry Radford
CBRE Memphis Investment Properties
+1 901 260 1022
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE
Comments are closed, but trackbacks and pingbacks are open.