11 BUILDINGS
1,118,221 SF
11-Property MOB Portfolio Adjacent to Long Island’s Largest Hospital – Long Island Jewish Medical Center
Long Island Jewish Medical Center
LAKE SUCCESS MEDICAL OUTPATIENT CAMPUS
LONG ISLAND
CBRE
TOTAL SIZE: 1,118,221 RSF
WEIGHTED AVERAGE LEASE TERM: 4.4 YEARS
BELOW MARKET AVERAGE RENT PSF: $37.17/SF/YR MG
OWNERSHIP: LEASED FEE (93 Years Remaining)
OCCUPANCY: 85%
YEAR 1 NOI: $22,480,662
CBRE U.S. Healthcare Capital Markets is pleased to exclusively offer the opportunity to acquire the Lake Success Medical Outpatient Campus (the “Portfolio” or the “Properties”), a rare opportunity to acquire significant scale within the Long Island medical market. The Portfolio consists of 11 buildings totaling 1,118,221 square feet strategically located immediately adjacent to Northwell Health’s 1,004-bed Long Island Jewish Medical Center Campus, featuring the largest hospital on Long Island with 50% inpatient market share in the local area, and North Shore University Hospital. Well positioned to attract medical tenancy with the most prominent and desirable medical options in the marketplace, a new owner has the opportunity to significantly improve their yield by converting the remaining buildings with office uses into medical, given the shorter weighted average remaining lease term. The Portfolio is 85% leased and includes a roster of high caliber tenants including 47% leased to health systems and investment grade tenants – Northwell Health (Moody’s: A3), Optum (Moody’s: A2), Catholic Health (S&P: A-), and NYU Langone Health (Moody’s: A1). These tenants have a weighted average length of occupancy of 26 years, highlighting their long term commitment to the campus.
Lake Success Medical Outpatient Campus presents unparalleled access for physicians and their patients due to its proximity to the Long Island Expressway, Cross Island Parkway, and Northern State Parkway, providing connection from the North and South Shores of Long Island and Eastern Queens.
The Portfolio provides an excellent opportunity for an investor to acquire an irreplaceable medical campus located in an extremely supply-constrained market adjacent to the leading hospital on Long Island.
CBRE U.S. Healthcare Capital Markets
INVESTMENT SALES
Brannan Knott
+1 443 983 6039
brannan.knott@cbre.com
Chris Bodnar
+1 720 635 2653
chris.bodnar@cbre.com
Mindy Berman
+1 617 899 0657
mindy.berman@cbre.com
Cole Reethof
+1 404 504 7864
cole.reethof@cbre.com
DEBT & STRUCTURED FINANCE
Zack Holderman
+1 858 337 9412
zack.holderman@cbre.com
Jesse Greshin
+1 860 808 4810
jesse.greshin@cbre.com
CBRE Local Market Experts
LEASING BROKERAGE
Robert Seidenberg
+1 631 370 6090
robert.seidenberg@cbre.com
Daniel Brandel
+1 631 370 6096
daniel.brandel@cbre.com
INVESTMENT SALES
Jeffrey Dunne
1+ 201 712 5841
jeff.dunne@cbre.com
Steven Bardlsey
1+ 203 352 8933
steven.bardsley@cbre.com
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