The Offering
Lakeview Medical Office Park and the St. Vincent Middletown Medical Office Building
The CBRE Healthcare Capital Markets Group is pleased to exclusively offer the Lakeview Medical Office Park and the St. Vincent Middletown Medical Office Building (“The Portfolio”) for purchase. The Portfolio consists of three (3) medical office assets totaling 165,825 square feet in the Indianapolis metropolitan area that is 87% leased with an average remaining term of 6 years. The portfolio’s appeal is evident in the quality and stability of its tenancy and strategic locations in Indiana.
The Lakeview Medical Office Park consists of two multi-tenant medical office assets totaling 162,025 rentable square feet and anchored by a world-renowned ophthalmology surgery center and the Urology of Indiana’s Center for Prostate Cancer.
The Middletown Medical Office Building is 100% leased on an absolute triple net basis through January, 2024 by St. Vincent Health, a subsidiary of Ascension Health (Fitch Ratings ‘AA+’, Moody’s ‘Aa2’).
Investment Highlights
Lakeview Medical Office Park
- Synergistic Tenant Mix
- Ophthalmology Concentration and Surgery Center
- Close Hospital Proximity
- Significant Tenant Investment
- Recent Capital Upgrades
- Long-Term Leases with Low Near-Term Rollover
- Delivered Free and Clear of Existing Debt
St. Vincent Middletown Medical Office Building
- 100% Leased to St. Vincent Health Through 2024
- Ascension Health Credit (Fitch Ratings ‘AA+’)
- Absolute Triple Net Lease
- Delivered Free and Clear of Existing Debt
OFFERING INFORMATION
| OFFERING PRICE: |
BEST OFFER |
| PORTFOLIO SF: |
165,825 RSF |
| OCCUPANCY: |
87% |
| YEAR BUILT: |
1988 & 2004 |
| IN PLACE NOI: |
$1,702,922 |
CBRE INVESTMENT CONTACTS
Lee Asher
Healthcare Capital Markets
+1 404 504 5965
lee.asher@cbre.com
Chris Bodnar
Healthcare Capital Markets
+1 303 628 1711
chris.bodnar@cbre.com
Dan Richardson
Indianapolis Investment Properties
+1 317 269 1043
dan.richardson@cbre.com
Andy Banister
Indianapolis Investment Properties
+1 317 269 1140
andy.banister@cbre.com
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