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1817 Frederick BlvdPortsmouth, VA 23707
Humana | Portsmouth, VA | 6.00% Cap
Asset ClassRetail, Healthcare Facility
Cap Rate5.75%
Humana | Portsmouth, VA | 5.75% Cap
overview of deal

Overview

Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of Humana | Portsmouth, VA. Humana has recently signed a 10 year lease at the newly constructed premises. The Asset is located within a multi-tenant retail development with ingress and egress on two main commuter thoroughfares, Turnpike Rd and Frederick Blvd.

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Investment Highlights

Strong Corporate Guaranty

  • Humana is a public company with a market cap of $57.67B
  • S&P Rating of BBB+
  • Over 220 locations

Positioned in a Retail Hub

  • Over 1.1MSF of retail space in a 1-mile radius
  • Nearby major retailers include Kroger, Walmart Supercenter, TJ Maxx, Chipotle, an Starbucks

Highly Accessible Location

  • Apart of retail development that provides cross access to Chipotle and Starbucks
  • Ingress and egress on Turnpike Rd (6,700 VPD) and Frederick Blvd (19,000 VPD)
  • Direct access to Seaboard Square, a 234 unit complex

High Growth MedTail Asset Category

  • MedTail (medical retail) continues on a high growth trajectory in the United States
  • Over 17.6MSF of medical space is under construction with another 19.7MSF planned

Attractive Lease Fundamentals

  • Humana signed a 10 year, NNN deal providing minimal landlord responsibilities
  • 10% rental increases every 5 years and option periods

New Construction

  • New building is built to suit tenant’s operations
  • Warranties will be assigned to new owner
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1817 Frederick BlvdPortsmouth, VA 23707

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Listing provided by Revere CRE