•	Brand new 10-year lease with 2 (5-year) options to extend, demonstrating their long-term commitment to the site
•	The lease is signed by MD Now Medical Centers, Inc., Florida’s largest and fastest growing urgent care provider with more than 60 locations
•	The parent entity, HCA Healthcare, currently serves 6.4 million patients each year at more than 400 affiliated sites of care across Florida
•	The lease features 10% rental increases every five years and at the beginning of each option period, generating NOI and hedging against inflation
•	The subject property has below market rents with similar new construction properties now at $50/SF+ in this submarket
•	Building has a functional, reusable footprint which allows for an easy tenant backfill if needed in the future and can accommodate many retail, medical and office users
•	Tenant pays for CAM, taxes, insurance, and maintains most aspects of the premises
•	Landlord responsibilities limited to roof and structure. New roof will have a 15+ year transferrable warranty
•	Investor benefits from fee-simple ownership of the building & land
•	Ideal low-management investment for a passive investor in a state with no state income tax

Offering Memorandum

•	The subject property is ideally positioned as an outparcel at Woods Walk Plaza, an 88,000 SF Publix anchored shopping center
•	The asset is located at the signalized, hard corner intersection of Lake Worth Road and US Highway 441 with a combined 106,900 VPD
•	The site is located across from the Marketplace at Wycliffe, a 1M+ SF Walmart Supercenter anchored shopping center
•	Several national/credit tenants support the trade area including Walgreens, Burger King, Chase, Publix, and UPS
•	The asset has excellent visibility via significant street sign frontage
•	More than 195,000 residents and 53,000 employees support the trade area
•	$115,913 average household income
•	Lake Worth’s population has increased 21% since 2010, which marked the seventh-highest increase among Palm Beach County’s 39 municipalities and substantially exceeded the county’s overall growth of 13%
•	DiVosta Homes wants to rezone the adjacent 36.9-acre agricultural site
to build 113 single family homes, adding 1,130 daily vehicle trips to the immediate trade area
•	DiVosta also unveiled three models at Windsong Estates, a new single-family home community 1.5 miles from the subject property along Lake Worth Road; sales have also commenced for a limited inventory of 93 homesites

Lake Worth, FL - MD Now Urgent Care

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<p>Lana Caravello joined SRS&#39; Washington D.C. office in 2020 as a transaction coordinator. Lana has more than 15 years experience in real estate, property and transactional management, customer acquisition, IT, and marketing. Most recently with Calkain, Lana provided transactional support for a team of top producing investment sales brokers and agents. She worked directly with senior producers and assisted with transactional management working to move acquisition and disposition transactions through to closing. </p><p>Lana is a graduate of the University of Central Florida.</p>

Investment Offering

Lake Worth, FL - MD Now Urgent Care

Description

Location

Contact

William Wamble

Patrick Nutt