JLL is pleased to offer for sale the fee simple interest in a 62,701-rentable-square-foot outpatient health center, Carroll Hospital Mount Airy (the “Property”) in Mount Airy, Maryland. Carroll Hospital Mount Airy is 100 percent leased to Mount Airy Med-Services, LLC, a joint venture between Carroll County Health Services Corporation (“CCHSC”) and Frederick Regional Health System. Carroll Hospital, rated A1 and CCHSC, part of the A1 rated LifeBridge Health system, jointly and severally guarantee the obligations of Mount Airy Med-Services, LLC.
The Property is currently undergoing an extensive renovation with over $10,000,000 being invested by the tenant to provide comprehensive outpatient care to Mount Airy and surrounding communities. The Property will feature medical imagining, urgent care, laboratory, a community center, wellness center, multiple physician suites and physical therapy suites.
Investment Highlights
- 15-year single tenant net lease with 10% rental escalations every five years
- Affordable triple net rent offering an attractive price point
- Approximately 14.5 years remaining term on an original 15-year lease
- Complete gut renovation underway to be completed in 2016 creating an attractive facade, spacious lobby and new clinical spaces
- Property provides easy access and visible signage from Interstate 70 with ample parking to attract patients within the community
- Fee simple, offered free and clear of debt
Contact:
Steve Leathers
Senior Vice President
+1 212 812 5867
steve.leathers@am.jll.com
Mindy Berman
Managing Director
+1 617 316 6539
mindy.berman@am.jll.com
Daniel Turley
Senior Vice President
+1 617 316 6521
daniel.turley@am.jll.com
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