OFFERS REQUESTED BY FRIDAY, NOVEMBER 18TH, 2016 – 5:00 PM CST
The Offering
CBRE’s Healthcare Capital Markets Group is pleased to exclusively offer the CityPlace 5 Medical Office Building (“CityPlace 5” or alternatively, the “Property”) for purchase. CityPlace 5 is a Class A, suburban medical office building consisting of 82,280 rentable square feet across three floors and a lower level. Built in 2006, the facility is situated on a ±2.08-acre site and offers 291 of the 573 parking spaces in the attached five-level parking structure which is shared by CityPlace Four office users. The Property is 91.1% leased to medical tenants offering a variety of services, including orthopedics, dentistry, plastic surgery, orthotics & prosthetics, internal medicine, nutrition and weight loss and multi-specialty medicine. In addition, the Property is 16.9% leased to City Place Surgery Center, a privately owned, ambulatory surgery center equipped with four operating rooms featuring the latest in surgical technology. Meridian Surgical Partners (MSP), based in Brentwood, Tennessee, acquired City Place Surgery Center in 2010. MSP is currently partnered with 10 physician-owned ASCs across the country.
CityPlace 5 is located within CityPlace, a 1.2 million-square foot campus consisting of Class A office, retail and residential space. The Property is located within four miles of three major area hospitals, including Mercy Hospital St. Louis, Barnes-Jewish West County Hospital, and Missouri Baptist Medical Center. The Property is also proximate to two other major hospitals, St. Luke’s Hospital and SSM Health DePaul Hospital – St. Louis.
Investment Highlights
- Surgery Center-Anchored
- Only Trophy Medical Office Building in the Market
- Located Within the Mixed-Use City Place Campus
- Create Value Through Lease-Up of Currently Vacant Space
- Diverse, Synergistic Tenant Mix
- Easily Accessible, High Traffic Location
- Appealing Aging and Demographic Trends
- Offered Free and Clear of Existing Debt
- Proximity to Major Medical Institutions
Investment Summary
| Price | Best Offer |
| Address | 845 N New Ballas Court, Creve Coeur, MO 63141 |
| Building Size | 82,280 RSF |
| Year Built | 2006 |
| Occupancy | 91.10% |
| In Place NOI | $1,651,088 |
Contact Information
CBRE U.S. Healthcare Capital Markets Group
Lee Asher
Executive Vice President
+1 404 504 5965
lee.asher@cbre.com
Chris Bodnar
Executive Vice President
+1 303 628 1711
chris.bodnar@cbre.com
Sabrina Solomiany
Director
+1 404 812 5109
sabrina.solomiany@cbre.com
CBRE Healthcare Services
Ann Dulle
Senior Associate
+1 314 655 6064
ann.dulle@cbre.com
CBRE Debt & Structured Finance
Greg Greene
Senior Vice President
+1 214 979 5617
greg.greene@cbre.com
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