Spartanburg Cancer Center_Property for Sale
Spartanburg Cancer Center_Property for Sale
722 Hyatt Street, Gaffney, SC, 29341, US

Spartanburg Cancer Center

Asset Description

JLL is pleased to offer the opportunity to acquire the CMC – Center for Family Medicine – Peachview and Gibbs Cancer Center & Research Institute - Gaffney, a single-tenant medical center located at 722 Hyatt St, Gaffney, SC (the “Property” or “Asset”). The Asset is leased to Spartanburg Regional Healthcare System (the “Tenant” or “SRHS”) who recently extended their net lease with a fresh 10 years of term remaining, 2.50% annual bumps and one, five-year renewal option.


The Asset serves as a primary care and cancer center, providing day-to-day care and cancer treatments to the community through its 11 physicians. The center is a part of the Spartanburg Regional Healthcare System (SRHS), the second largest healthcare system in South Carolina with 166 total medical sites. The network is investment grade, receiving a A2 rating from Moody’s, with a recent upgrade in September 2023. SRHS generates a total patient revenue of $5.7 billion with strong profitability, generating $239.6 million of EBITDA, and a healthy balance sheet. 


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Attributes

Asking price
€7,657,000
Cap rate
6.25%
Tenant credit rating
A
Remaining lease term
9.4 years
Building area net
2,698 m²

Media

Investment Highlights

  • Spartanburg Regional Healthcare System (SRHS) is an investment-grade healthcare network with 166 facilities, generating $5.7 billion in patient revenue and $239.6 million in EBITDA.
  • SRHS recently renewed their lease for 10 years, demonstrating tenant commitment and the site's importance.
  • South Carolina is experiencing rapid growth, ranking as the fastest-growing state and the #2 state for business.
  • The U.S. healthcare industry is projected to grow at a 5.5% CAGR from 2022 to 2028, with a trend towards off-campus outpatient care.
  • The lease offers long-term stability with 9.4 years remaining, 2.50% annual rent escalations, and a five-year extension option.
Spartanburg Cancer Center 4_Property for Sale
Spartanburg Cancer Center 4_Property for Sale

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Spartanburg Cancer Center (0 Properties)

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Last updated
29 Oct 2024