The Offering
CBRE’s Healthcare Capital Markets Group and the Carolinas Institutional Properties Group are pleased to exclusively offer Doctor’s Center of Spartanburg (the “Property”) for purchase. Doctor’s Center of Spartanburg is located in Spartanburg, South Carolina, approximately 75 miles west of Charlotte and 31 miles east of Greenville. The Property is positioned adjacent to Spartanburg Medical Center, a 540-bed, acute-care facility with more than 500 physicians on staff. Built in 1988, the five-story, 65,143-rentable square foot facility is one of the only medical office buildings in the submarket not owned by the hospital.
The Property is currently 85.1% leased with 22% leased to Spartanburg Regional Healthcare System (Moody’s ‘A2’), an integrated healthcare delivery system that includes four hospitals, a nursing center, in-home hospice services and the Medical Group of the Carolinas. In addition, the Property is 37% leased to the Urology Center of Spartanburg (UCS), the largest urology practice in the Upstate region of South Carolina. UCS currently employs 13 physicians and provides an onsite diagnostic lab, state-of-the-art imaging capabilities including X-ray and CT scans, and pathology lab. Doctor’s Center of Spartanburg is also home to Spartanburg Surgery Center, which features four operating rooms and two procedure rooms and is outfitted with state of the art equipment. Operating under a Certificate of Need (CON), the Surgery Center has a significant degree of market share protection.
Investment Highlight
- Investment-Grade Health System Tenancy
- Adjacent to Spartanburg Regional Medical Center and Attached to the Hospital’s Restorative Care Center
- 37% Leased to Dominant Regional Urology Practice
- Easily Accessible, Well-Traveled Location
- Value-Add Opportunity Through Lease-Up
- Heavy CON Protections in South Carolina
- Property Offered Fee Simple
- Appealing Aging Trends
- Delivered Free and Clear of Existing Debt
Contact Information
CBRE U.S. Healthcare Capital Markets Group
| Lee Asher Executive Vice President +1 404 504 5965 lee.asher@cbre.com |
Chris Bodnar Vice Chairman +1 303 628 1711 chris.bodnar@cbre.com |
Sabrina Solomiany Senior Director +1 404 536 5054 sabrina.solomiany@cbre.com |
CBRE Carolinas Institutional Properties
| Patrick Gildea Executive Vice President +1 704 331 1217 patrick.gildea@cbre.com |
Matt Smith Senior Associate +1 704 331 1286 matthew.smith@cbre.com |
CBRE Debt & Structured Finance
| Charles Gouch Senior Vice President +1 864 5276035 charles.gouch@cbre.com |
CBRE Debt & Structured Finance
| Greg Greene Senior Vice President +1 214 979 5617 greg.greene@cbre.com |
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