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.
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
lee.asher@cbre.com
Chris Bodnar
Executive Vice President
+1 303 628 1711
chris.bodnar@cbre.com
CBRE Investment Properties
Morgan Hillenmeyer
Vice President
+1 615 248 5930
morgan.hillenmeyer@cbre.com
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