JLL is pleased to offer the opportunity to acquire The Surgery Center at Cranberry, a mission-critical single-tenant medical center located at 105 Brandt Drive in Cranberry Township, PA. The facility is led by its founder and highly trained, board-certified ophthalmologist, William Christie, MD, and houses a multi-specialty ophthalmology clinic with a dedicated surgery center that performs over 2,015 procedures annually.
The Asset is 100% leased to EyeSouth Partners (“EyeSouth” or the “Tenant”), one of the nation’s largest eyecare services providers and is operating on a 12-year absolute triple net lease with 9.2 years of term remaining, zero landlord responsibilities and two, five-year renewal options.
The Tenant’s medical practice benefits considerably from being steps to UPMC Passavant Medical Center’s campus and only four miles north from AHN Wexford Hospital. Located just 20 miles north of downtown Pittsburgh in the highly affluent township of Cranberry whose average household income is over $170,000, the Property is positioned in a dense healthcare and commercial corridor that accesses over 74,000 residents in a five-mile radius.
This unique opportunity offers investors the ability to acquire a mission-critical healthcare asset located in a fundamentally strong and growing trade area. The asset offers secure, long-term cash flow backed by a leading healthcare network and a local clinical practice with 20+ years of occupancy that is accredited through the American Association for Accreditation of Ambulatory Surgery Facilities (AAAASF).
NATIONAL HEALTHCARE NETWORK WITH PREMIER PRIVATE EQUITY SPONSOR
MISSION-CRITICAL MEDICAL & SURGICAL CENTER
HIGH GROWTH MARKET WITH STRONG HEALTHCARE CONCENTRATION
RAPIDLY GROWING HEALTHCARE SERVICES INDUSTRY
OPTIMAL LONG-TERM NET LEASE WITH ZERO LANDLORD RESPONSIBILITIES