Singing River Cancer Center

3920 Peach St, Florence, AL, 35630, US

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present Singing River Cancer Center (“Singing River” or the “Property”), a 45,904 rentable square foot, single-story, purpose-built state-of-the-art and integrated cancer center. Singing River is in Florence, Alabama, within the Shoals region, less than a two-hour drive to Nashville, Memphis, Birmingham and Huntsville, and slightly further to Chattanooga and Atlanta.

Singing River is a comprehensive care center, serving over 150,000 residents across the Tennessee Valley with medical oncology, diagnostic imaging, chemotherapy, radiation oncology and infusion services. The tenant and sub tenants have invested over $15 million arming the building with infrastructure including PET/CT, MRI, X-Ray, and linear accelerator equipment.

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Attributes

Building area net

4,265 m²

Occupancy

100%

Year built

2020

WAULT

9.5 years

Media

Investment Highlights

45,904 square foot state-of-the-art outpatient cancer center
Purpose-built in 2020 to serve as the Tennessee Valley’s only “one-stop-shop” for diagnostic imaging, chemotherapy, radiation oncology, and infusion therapy; to date, tenancy has invested over $15 million in state-of-the-art oncology infrastructure and equipment
On-site equipment includes a Linnear Accelerator, PET/CT, MRI, X-Ray, Infusion Bays and more, offering a comprehensive care center and streamlined patient experience
100% NNN-leased to Alliance HealthCare Services (Akumin Inc.), with 9.5 years of remaining lease term, 2.5% annual base rent increases, and two 10-year renewal options
In-place rent is a significant discount to replacement, coupled with the enormous cost and complexity of transporting the equipment implies a near certainty of lease renewal
Medical properties within a 5-mile radius of the asset boast 97% average occupancy, 4.7% above average occupancies in Top50 metros, per Revista