Offers Requested By Tuesday, March 20th 2018 – 5:00 Pm PST
The Offering
CBRE’s U.S. Healthcare Capital Markets Group is pleased to exclusively offer the opportunity to acquire the NorthBay VacaValley Medical Center (the “Property”). The Property is a 3-story medical office building and wellness center that totals 110,260-rentable square feet and is 100% leased by NorthBay Healthcare (S&P ‘BBB-’), Solano County’s only locally based, not-for-profit healthcare system. The health system leases the Property on a long-term lease with 2.50% annual escalations and an average remaining lease term of 18.2 years, providing an investor with strong cash flow for the foreseeable future.
The NorthBay VacaValley Medical Center is an innovative facility that combines outpatient clinical services and physician practices with an integrated medical fitness center. The Property was constructed in 2016 as part of the continued expansion of NorthBay Healthcare System in Solano County. The facility’s outpatient occupants include the NorthBay Cancer Center, NorthBay Diabetes & Endocrinology, Integrative Medicine, Cardiac Rehabilitation and Solano Diagnostics Imaging. It also includes NorthBay Health Spring Fitness, a 56,000-square foot medical wellness center that provides the community with an aquatics center, an indoor track, strength and conditioning training, health classes, massage therapy, and physical training coaching. The wellness center currently has approximately 6,000 members.
Investment Highlight
- 100% Leased With 18.2 Years of Remaining Lease Term
- Anchored by Investment Grade Health System
- Favorable Triple-Net (NNN) Lease Structure with Rent Escalations
- Newly Constructed with Minimal Capital Exposure
- Community Oriented, Unique Purpose
- Attractive Location in High Traffic Retail Corridor
- Appealing Aging Trends Drive Demand for Healthcare
- Existing Assumable Debt or Seller to Deliver Debt-Free
Contact Information:
CBRE U.S. Healthcare Capital Markets Group
| Chris Bodnar Vice Chairman +1 303 628 1711 chris.bodnar@cbre.com CA Lic. 01892501 |
Lee Asher Vice Chairman +1 404 504 5965 lee.asher@cbre.com
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Ryan Lindsley Senior Director +1 303 628 1745 ryan.lindsley@cbre.com
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