Healthcare

Park Place Medical - 1761 Broadway (2020)

1761 Broadway Street Vallejo, California United States 94589
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Key Facts

Year Built 1990
Building Area
Occupancy 99.0 %

Property Description

-Institutional Outpatient Healthcare Center Predominantly Leased by Kaiser Permanente (FITCH: AA-) -Value-Add Opportunity to Market In-Place Rents that are Below Market -Significant Discount to Replacement Cost -Significant Tailwinds for Growth in Behavioral Health Market

Investment Highlights

JLL is pleased to present the opportunity to acquire Park Place Medical (the “Property” or “PPM”), a 99% occupied 56,991 SF outpatient medical office building and adjacent 4-acre development parcel, that may be acquired in addition to the current offering. PPM is anchored by Kaiser Permanente (82% Net Rentable Area / Fitch: AA -), who has expanded and extended within the Property numerous times since its original construction in 1990, including a newly exercised lease extension. Located within the San Francisco Bay Area, Park Place Medical is strategically located less than a quarter-mile from the 248-bed Kaiser Permanente Vallejo Medical Center and one mile from the 102-bed Sutter Solano Medical Center. PPM provides an investor with stable and dependable cash flow, as well as future income enhancement via below market in-place rents, resulting in an anticipated value that is well below replacement cost.
Last Updated Date: 08 Sep 2020
Evan Kovac
Evan Kovac
Managing Director, Capital Markets
License details
CA-01750736
Andrew Milne
Andrew Milne
Managing Director, Capital Markets
License details
CA-01868031

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Last Updated Date: 08 Sep 2020

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