For Sale: Offering Memorandum Available – Granger Medical Clinic | 94,834 SF, Class A+, State-of-the-Art Medical Office Building

The Offering

Jones Lang LaSalle, Inc. (“JLL”) Capital Markets, as exclusive advisor, is pleased to present to qualified investors the opportunity to acquire the fee simple interest in Granger Medical Clinic (“Property”), a four-story, 94,834 square foot Class A+, new construction, state-of-the-art built-to-suit medical office building located in an infill Salt Lake City MSA location in West Valley City, Utah. The Property was purpose built for, and 100% leased to, Granger Medical Clinic ($100M+ annual revenue), one of the largest independent, physician-owned medical clinic groups in Utah, on a 15-year triple-net lease with 13.4 years of term remaining. The Property offers a qualified healthcare real estate investor the opportunity to acquire the trophy medical office asset and form a long-term relationship with the Granger Medical Clinic as the tenant. Completed in 2020, the Granger Medical Clinic features the highest architectural and building standards with standout finishes including terrazzo flooring, a terracotta exterior, ample natural light, and state of the art medical equipment programmed by Envision Planning which has worked with hospitals around the nation.

Granger Medical Clinic subleases approximately 12,000 square feet for various uses including oncology, physical therapy and pharmacy. Utah Cancer Specialists, which comprises more than half of the total sublease space, is the largest community based oncology and hematology treatment practice in Utah with physicians providing medical oncology, hematology, radiation oncology and imaging services and whose cancer specialists are experts in every type of cancer, including rare malignancies.

Investment Highlights

• Rare Opportunity to Acquire a Brand New, Trophy, Class A+ Medical Outpatient Facility of Scale

• Establish Long-Term Relationship with a Growing Premier Physician Practice

• Optimal Infill Salt Lake City Location

• Located in the Fairbourne Station Mixed-Use Development with Light Rail Stop

• Attractive Lease Terms Offering Consistent Cash Yields

• Favorable Rent Basis Compared to Similar New Construction

Executive Summary

Confidentiality Agreement

Local Market Sales & Healthcare Leasing

Philip Brierley
Senior Director
JLL
(312) 965 2753
phil.brierley@am.jll.com
UT Lic. #10385788-PB00

Jami Marsh
Vice President
JLL
(801) 456-9514
jami.marsh@am.jll.com
UT Lic. #5488712-SA00