JLL is pleased to offer the opportunity to acquire Carolina Eyecare Physicians – West Ashley, a single-tenant eye care & surgery clinic located at 2060 Charlie Hall Blvd - Suite 201, Charleston, SC (the “Property” or “Asset”). The Asset is leased to Carolina Eyecare Physicians (the “Tenant”) who has occupied the sites since its construction in 2002 and is operating on a 15- year net lease with 11.5 years of term remaining, 2.75% annual rent increases, limited landlord responsibilities and two, five-year renewal options. The roof of the Property was replaced in October 2021, with a warranty extending through October 2031, one HVAC was replaced in 2023, with the other being replaced in 2018.

Carolina Eyecare Physicians is a highly reputable physician group operating in the Charleston area, boasting 18 locations and a 30-year operating history. This site acts as an eyecare and exam clinic, with 7 MDs & 1 OD, who also own and perform surgeries at the neighboring surgery center. In 2020, the Tenant strategically joined forces with US Eye, a renowned support provider for eyecare groups across the Southeastern U.S., with backing from Pamlico Capital, a private equity firm managing a substantial $4 billion in assets under management.

Situated within the Charleston MSA, the Property benefits from a thriving local economy. The MSA is home to 849,000 residents, experiencing a strong population growth rate three times higher than the national average. The MSA’s healthcare is fueled by the presence of over 2,000 physicians, driven by the comprehensive academic health system of The Medical University of South Carolina, with its extensive network of 16 hospitals.

The Asset sits adjacent to Bon Secours St. Francis Hospital, a 204-bed facility generating an impressive $305 million in annual net patient revenue. The demand for medical care in the area is evident in the expansion of the neighboring West Ashley Medical Pavilion completed in 2023, allowing for the accommodation of an additional 300 patients per day.

Furthermore, the property benefits from its strategic location near a thriving retail area featuring national tenants such as Home Depot, Lowe’s, McDonald's, and a top-performing Chick-fil-A, which ranks among the top 15% in the nation by visits (Placer.ai).