For Sale: A Hospital Anchored, On-Campus Medical Office Investment Opportunity

The Offering

  • Offering Price: Best Offer
  • Building Size: 52,128 RSF
  • Address: 1912 Alabama Highway 157, Cullman, Alabama
  • Year Built: 2010
  • Occupancy: 100%
  • In-Place NOI: $1,129,585

CBRE’s U.S. Healthcare Capital Markets Group is pleased to offer the exclusive opportunity to acquire the Cullman Professional Office Building III (the “Property”). The Property is currently 100% leased and is located on the campus of the Cullman Regional Medical Center (“CRMC” or the “Hospital”), a 145-bed, community based, not-for-profit hospital located in Cullman, Alabama. Cullman is owned and operated by the Health Care Authority of Cullman County and is a full-service, acute care hospital with a Level III trauma center. The hospital is the only acute care hospital in the market and serves more than 150,000 residents in a six-county area.

The Property is a three-story, multi-tenant medical office building that is connected to the Cullman Regional Medical Center. The property was purpose-built in 2010 to further the relationship between the hospital and Cullman Primary Care (“CPC”), a multi-specialty private physician group that since 1975 has been providing care to its patients. CPC currently has over 70,000 active patients in the practice and is a leading provider of healthcare services in Cullman County and the surrounding area.

CRMC leases 30.4% of the building and CPC leases 69.6% of this strategic Property. The medical campus serves as the center of medical activity for Cullman County and the surrounding area and provides a strong referral network for the healthcare providers located there. The Property is subject to a long term ground lease with the hospital and has a remaining term of approximately 91 years.

Executive Summary

Confidentiality Agreement

Investment Highlights

  • Strategic On Campus Location
  • Fully Leased by Cullman Regional Medical Center and Cullman Primary Care
  • Serves as CPC’s Primary Service Location
  • Allows for Collaboration between the Hospital and CPC
  • Long Term Ground Lease
  • Synergistic Medical Submarket with Strong Referral Patterns
  • Excellent Market Demographics
  • Delivered Free and Clear of Any Debt

Contact Information

CBRE U.S. Healthcare Capital Markets Group

Lee Asher
Executive Vice President
+1 404 504 5965

Chris Bodnar
Executive Vice President
+1 303 628 1711

CBRE Investment Properties

Morgan Hillenmeyer
Vice President
+1 615 248 5930

The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE

Existing Users Log In