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Views: 56 DOM: 59 Updated: 08.24.24 Posted: 07.10.24 Status: Active

Summary

Price $2,675,000
Built/Renov 2008/2023
Tenant UPMC
Cap Rate 6.50%
Lease Type Double NN
Guarantor Corp Rated
Size/SF 8,000
Lease Start 02-01-2024
#Units 840
Price/SF $334.38
Expiration 01-31-2034
Tenant Type Medical/Health
NOI $173,873
R. Term 9.4
Ownership Fee Simple
Rent/SF $21.73
Increases 10.0%/5/yrs
Pop 5Mi 6,573
Lot/AC 2.68
Options 1/5yrs/10%
AHHI 5Mi $69,804

Lease Highlights

  • UPMC has 9+ years remaining on the current lease term with 1 (5-year) option to extend
  • The lease features 10% rental escalations throughout the initial term an option periods
  • Corporate guaranteed lease

Location Description

UPMC is strategically located on Raystown Road, with access to 3,800 vehicles passing by daily. The property is regionally accessible due to its proximity to major interstates and highways, specifically U.S. Route 30, I-99, which connects to State College, PA and Penn State University’s main campus, and the PA Turnpike (I-76), which sees 36,543 VPD. Additionally, many retail amenities surround...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: UPMC
  • Guarantor:Corp Rated
  • Company:UPMC
  • # Units:840
  • Tenant S&P: A
  • Moody’s: A1
  • Stock:Private

About Tenant

University of Pittsburgh Medical Center, known as UPMC, is a world-renowned, nonprofit healthcare provider and insurer committed to delivering exceptional, people-centered care and community...


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Listing Broker

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