55,127 Square Foot, Class A Medical Outpatient Building Offering Lease-Up Potential

• 2005 contemporary construction with an attractive tan stucco exterior with covered entry drop-off.
• Situated on a 3.93-acre leasehold parcel under a ground lease running through 2080, plus one ten-year extension option; the land is owned by Sacred Heart along with the adjacent parcel, demonstrating commitment to the location.
• Ample on-site, surface parking on all four sides with a parking ratio of 5.0 spaces per 1,000 square feet, ideal for high-traffic specialties within the building.
• Currently, four suites are vacant, offering new ownership the ability to cater to rising demand for clinical healthcare space in a high-growth Florida market.
• Two second-generation suites offer both clinical and ambulatory surgery center buildouts that can be adapted for new tenants within the market or built out speculatively given there is no competing Class A space offering 1,000 to 3,000 square foot suites.

Investment-Grade Rated Hospital System Tenancy

• Sacred Heart has been in occupancy since 2005 and occupies 52.3% of the building, or approximately 90% of the leased space.
• The Sacred Heart leases mature from November 2028 through February 2030 with three expiration dates providing ownership diversification within the rent roll and the ability to extend long-term.
• Ascension, the parent of Sacred Heart carries investment-grade ratings of AA (Fitch), AA+ (S&P Global), and Aa3 (Moody’s).
• Sacred Heart is a leading hospital system in the market with over 100 total locations around Pensacola in addition to Ascension Sacred Heart Pensacola, a 566-bed hospital that is the only level I trauma center in the region.
• The building includes leading specialties, including primary care, obstetrics and gynecology, cardiology, podiatry, and audiology.

Strategic Off-Campus Location on Hospital Land

• The location within Pace is adjacent to a growing residential pocket and serves as a spoke around the community for the Sacred Heart Hospital hub.
• Three major hospitals are between 6 and 9 miles away, making this a sought-after location for many primary and specialty care services all in one location.
• US Highway 90 has an average daily traffic count of 37,500 cars, providing excellent visibility for Sacred Heart and the other providers.
• Total population of 159.8K within the zip codes within 10 miles of the Property with above average median household income of $88.1K, notably higher than Florida ($77.8K) and national ($83.9K) benchmarks.
• Commercial payer coverage of 48.8% in the market, 3.2 percentage points above the Florida state average (45.6%).