Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Key facts

Building Area Net
Land Area Net ()
Occupancy 100.0 %

Property description

Brendan McArthur -

NV

 RE license #

S.0188046

JLL is pleased to offer the fee-simple interest in the Centennial Surgery Center Sale-Leaseback, consisting of a high-performing medical treatment and surgery center location in Las Vegas, NV (the “Property”). Through strategic positioning on a high-traffic commuter thoroughfare, an extremely in-demand service offering catering towards chronic and acute pain management, and the highly-regarded on-site surgery center, Centennial Medical Group (“CMG” or “Tenant”) has established itself as a preeminent medical treatment provider in Las Vegas. Founded in 2001, the company is led by a Board Certified and Fellowship Trained Pain Management Physicians team that boasts a premier educational background and over 100 years of combined experience. The Property houses the Tenant’s high-margin surgery center, which contributed over 76% of the corporate EBITDA in 2020, providing highly sought-after procedures such as radiofrequency ablation, trigger point injections, and more.

The Tenant will sign a 15-year absolute triple-net master lease, commencing upon transaction closing, guaranteeing $330,000 in Year 1 rent, with highly attractive increases of 2% every annum. This offering represents an opportunity to own a property with incredible real estate fundamentals while providing secure and passive long-term income from an established medical tenant in the growing Las Vegas MSA.

Investment highlights

  • 5-YEAR ABSOLUTE NNN SALE-LEASEBACK WITH 2% ANNUAL ESCALATIONS
  • IMPRESSIVE TENANCY FROM A LEADING MEDICAL GROUP IN LAS VEGAS
  • LEADING ACUTE AND CHRONIC PAIN MANAGEMENT PRACTICE WITH A HIGH-GROSSING SURGERY CENTER
  • EXCEPTIONAL 2020 CORPORATE EBITDAR/RENT COVERAGE OF 8.57x, PROVIDING LONG-TERM SURETY OF RENTAL INCOME 
  • BOOMING LAS VEGAS METRO AND IMMEDIATELY SURROUNDING LOCATION POPULATION GROWTH
  • OUTSTANDING LOCATION IN A HIGHLY TRAFFICKED CORRIDOR IN NORTH LAS VEGAS – SEEING OVER 67,000 VPD
Last Updated Date: 30 Sep 2021
Brendan McArthur
Brendan McArthur
Senior Director, Capital Markets
Broker Licenses
CA- 01185335

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Last Updated Date: 30 Sep 2021

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