CBRE, Inc. has been retained as the exclusive advisor in the sale of the 31,713 square feet condominium interest in the Barns Medical Center (“The Barns”). The Barns, a four building complex, is a 42,000± SF office complex at 667 Stoneleigh Avenue in Carmel, NY located within minutes of two major interstate highways, Interstate 84 and Interstate 684. The Barns provides a prospective investor the opportunity to capitalize on a well-positioned, stable income producing property with long-term tenant history.
Close Proximity to Putnam Hospital Center
The Barns’ location, directly across the street from Putnam Hospital Center (“PHC”), is a one-of-a-kind advantage appealing to current and prospective medical office tenants. PHC is a 164 bed facility that recently won the 2014 Women’s Choice Award for America’s Best Hospital for Orthopedics.
Significant Barriers to Entry
The buildings’ tenants are 100% medical. Medical office tenants typically occupy space in buildings for longer periods of time due to the cost associated with equipment and tenant improvements. In addition, the property is located directly across from the PHC increasing the demand for out-patient office space.
Stable Investment
Currently the property is 97% occupied, providing an investor the opportunity to acquire a stable income producing property with tenants who have been at the Property for more than ten years.
Superb Demographics
The Barns is located in the town of Carmel, New York. More than 25% of Carmel households have income of $150,000 or higher with approximately 35% of all residents having obtained a bachelor’s degree or higher.
Excellent Access
The Barns is in an easily accessible location for Putnam and Northern Westchester County residents. The property is within 4.5 miles of both Interstate 684 and 84, which is attractive to medical office tenants and patients.
Conveniently Located Retail
JNR Pharmacy is a tenant located within the Barns Medical Center complex. In addition to being in close proximity to the various medical office tenants located in The Barns, JNR is the only pharmacy located within a 4± mile radius of Putnam Hospital Center. Their location subsequently drives demand for prescriptions and over the counter medication, vitamins, and supplements.
Barns Medical Center is in an easily accessible location for Putnam and Northern Westchester County residents “Barns” is within 4.5 miles of both interstate I-684 and -84, which is attractive to medical office tenants and patients.
Property Highlights
Property Size: 5± acres; 123,127± – four builidings
Building Size: 42,000 SF; advising on the sale of 31,713 SF
Zoning: C – Commercial
Parking: 216 Spaces
Real Estate Taxes: $165,817 as of most recent year
The Barns Medical Center
667 Stoneleigh Avenue, Carmel, New York
For more information or to arrange a property tour, please contact
Patrick Colwell
Senior Vice President
+1 203 352 8929
patrick.colwell@cbre.com
Devon Warren
Associate
+1 203 352 8955
devon.warren@cbre.com
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