Healthcare

Park Place Medical - 1761 Broadway (2020)

1761 Broadway Street Vallejo, California United States 94589
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1990
Building Area
Occupancy 99.0 %

Property Description

-Institutional Outpatient Healthcare Center Predominantly Leased by Kaiser Permanente (FITCH: AA-) -Value-Add Opportunity to Market In-Place Rents that are Below Market -Significant Discount to Replacement Cost -Significant Tailwinds for Growth in Behavioral Health Market

Investment Highlights

JLL is pleased to present the opportunity to acquire Park Place Medical (the “Property” or “PPM”), a 99% occupied 56,991 SF outpatient medical office building and adjacent 4-acre development parcel, that may be acquired in addition to the current offering. PPM is anchored by Kaiser Permanente (82% Net Rentable Area / Fitch: AA -), who has expanded and extended within the Property numerous times since its original construction in 1990, including a newly exercised lease extension. Located within the San Francisco Bay Area, Park Place Medical is strategically located less than a quarter-mile from the 248-bed Kaiser Permanente Vallejo Medical Center and one mile from the 102-bed Sutter Solano Medical Center. PPM provides an investor with stable and dependable cash flow, as well as future income enhancement via below market in-place rents, resulting in an anticipated value that is well below replacement cost.
Last Updated Date: 08 Sep 2020
Evan Kovac
Evan Kovac
Managing Director, Capital Markets
License details
CA-01750736
Andrew Milne
Andrew Milne
Managing Director, Capital Markets
License details
CA-01868031

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Last Updated Date: 08 Sep 2020