Atria at Foster Square
707 Thayer Lane, Foster City, CA, 94404, US
16,372 m²
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present qualified investors the opportunity to acquire WelbeHealth Carson Center (the “Facility” or “Property”), a newly built PACE medical facility located in Los Angeles, CA. The Property is 100% leased and occupied by WelbeHealth (“Welbe” or “Tenant”) with 20 years of initial primary term.
Welbe is one of the fastest growing operators of PACE (Program of All-Inclusive Care for the Elderly) facilities in the United States with significant market share across California. PACE is a community-based, comprehensive care program providing high-cost seniors with their unique complex medical needs and nursing-home level of care. The Facility contains a medical clinic, full dental care, rehabilitation gym, recreation space and a separate space for dementia care.
Located within Los Angeles County, Carson is a thriving city with a densely populated area of over 150,000 residents within a 3-mile radius of the Property. This prime location positions Carson to benefit from its strategic proximity to the economic powerhouse and largest city in California—Los Angeles. The property’s location in Carson also offers excellent visibility and access to other key Southern California markets through major highways, including the I-405 (272,000 VPD), I-110 (244,000 VPD), and Highway 91 (189,000 VPD). Also, site is within a thriving retail corridor that includes renowned national retailers like IKEA, Target, Walmart, and Big 5.
This offering provides investors the ability to acquire purpose-built real estate in an attractive Southern California market secured by an optimal long-term net lease with minimal landlord responsibilities and a high-growth, committed healthcare tenant that is providing recession-resistant, critical services for California’s senior community.