Overview
CBRE’s U.S. Healthcare Capital Markets Group is pleased to exclusively offer the opportunity to acquire the Clearway Pain Solutions of Salisbury MOB (the “Property”) located in Salisbury, MD. The fee simple, single tenant medical outpatient building and surgery center is 100% leased and occupied by Clearway Pain Solutions, a leading pain management provider. Clearway Pain operates with two partnerships, The Center for Pain and Relievus, and together they form the largest pain management practice in the United States operating across six states with 140+ providers, 70 locations, and serving a patient base of over 130,000.
The Property is equipped to deliver exceptional clinical care and essential pain management services through the 6,500 square-foot surgery center and 3,500 square-foot clinical space, including 2 operating rooms and 8 recovery rooms, and cutting-edge technology and imaging systems. Within the space, Clearway Pain offers a range of services including Interventional Pain Management Procedures, Physical Therapy, EMG/NCS, Medication Management, Workers’ Comp Injury Programs, Motor Vehicle Injury Programs, and more.
Built in 2010, the location was strategically chosen to solve a gap in missing pain management services in the community. The Property serves as the primary pain management provider on the Maryland peninsula, catering to a rapidly aging demographic. The senior population accounts for more than 19% of the total population in the MSA and is expected to grow by 11% over the next 5 years, surpassing the growth rates of the nation.
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Investment Highlights
- NNN Lease Structure - The NNN lease provides investors with limited exposure to operating expenses, and predictable and growing cash flows.
- Scheduled Rent Escalations - The lease offers 3.0% annual rent escalations providing strong NOI growth throughout the term of the lease.
- Long-Term Commitment - Clearway Pain Solutions signed a 12-year lease term in 2021, demonstrating their commitment to the Property and community.
- Mission Critical Facility - Clearway Pain Solutions operates as the primary pain management provider in the region and the Property features a 2-operating room surgery center and 3,500 square-foot clinical space to provide their services.
- Robust Referral Network - The Property’s strategic location within the 5-property medical park creates a desirable referral system.
- Highly Accessible Location - Located along U.S. Route 50 and U.S. Route 13, the MOB is highly accessible and provides convenient access to more than 71,000 vehicles a day and 130,000 residents in the Salisbury, MD metropolitan area.
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