FOR IMMEDIATE RELEASE
MYRTLE BEACH, SC., February 13, 2023 – Chicago-based Walz Capital today announced their acquisition of a 9,546 square foot Medical Office Building in Myrtle Beach, SC. The two-story building, which is located at 1945 Glenns Bay Road, is master leased by South Strand Internists, with a 1,600 square foot sublease LabCorp.
This marks Walz Capital’s first acquisition in South Carolina. Population growth in the area has increased by approximately 45 percent from 2010-2022, much of which is attributed to the migration of retirees drawn to the area’s mild weather, low-cost of living, and relaxed lifestyle. Additionally, U.S. News and World Report’s ranked Myrtle Beach as the 2022-2023, #1 Fastest Growing City in the US by net migration, making demand for primary care and internal medicine needs inevitable.
“Robust population growth and the subsequent need for primary care and internal medicine due to the aging population in Myrtle Beach, makes this acquisition ideal for long-term viability,” said Collin Kraft, partner and vice president of acquisitions for Walz Capital. “We look forward to building more relationships in the area and growing our geographic footprint in South Carolina. It was a pleasure to work with Coastal Vision Properties and South Strand on this transaction.”
South Strand consists of two board certified internal medicine doctors specializing in women’s wellness, physicals, blood work, urinalysis, and skin biopsies. On-site services at South Strand also include x-ray, lab services, and addiction treatment.
South Strand specializes in routine check-ups and urgent care, with the resources to handle a variety of conditions including fever, minor trauma, ear infections, flu-like symptoms, and more.
“This acquisition is exciting in many ways as it expands Walz Capital’s footprint in the Southeast,” said Corey Walz, president of Walz Capital. “It is also a testament to our consistently strong debt relationships and acquisition strategy despite interest rate headwinds.”
Rick Snyder of Coastal Vision Properties represented the Seller. No Broker represented Walz Capital on the transaction.
About Walz Capital
Walz Capital is a Chicago based real estate investment firm that acquires, owns, and manages primarily medical office buildings throughout target markets of the United States.
Walz Capital has acquired approximately 150,000 square feet of net leased property over the last two years throughout Georgia, Texas, Indiana, South Carolina, Iowa, and Tennessee.
For more information, please visit www.walzcapital.com.
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