INVESTMENT HIGHLIGHTS
STRONG TENANT - 60% PHYSICIAN OWNED / 40% SURGERY PARTNERS, INC, (NASDAQ: SGRY)
The Tenant is Skyway Surgery Center, LLC which is 60% physician owned. The remaining 40% is owned by Surgery Partners, Inc, (NASDAQ: SGRY), boasting over 7,000 employees across 180 locations in 31 states and over 600,000 annual patients.
+3% ANNUAL RENT INCREASES
The contracted +3% annual rent increases provides strong, contracted NOI growth. Year 3 Cap Rate: 6.91%, Year 5 Cap Rate: 7.37% Cap Rate.
STRONG HISTORICAL OCCUPANCY
The Property was a build to suit for the current tenant who has occupied the building since 2004, boasting over 18 years of successful operating history at this location.
LARGE 1.93 ACRE LOT WITH ROOM TO EXPAND THE FACILITY
The Property features a large, 1.93 acre lot with sufficient room to construct a limited addition onto the Property, if needed in the future.
SINGLE TENANT NNN LEASE/EASE OF MANAGEMENT
The Property operates under a modified NNN lease requiring minimal landlord management responsibility.
AFFLUENT, RAPIDLY GROWING DEMOGRAPHICS
The average household income within a 3 mile radius of the subject Property is $93,803. Since 2010, the population of Chico has increased by roughly 50%.
SIGNIFICANT RESIDENTIAL GROWTH WITHIN A 2-MILE RADIUS
Within a 2-mile radius of the subject Property, their was a total of 4,383 housing units built from 2014-2021 with another 3,000+ units currently planned or under construction.
Listing Agents:
CLAYTON J. BROWN
