Myrtle Beach, FL - Grifols

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate guaranteed, Grifols Plasma investment property located in Myrtle Beach, SC. The tenant, Biomat USA, Inc. (dba Grifols Plasma) has over 7 years of firm term remaining with an additional 4 (5-year) option periods left to extend. The lease features 10% rental increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is guaranteed by Grifols Shared Services North America, Inc. and is NNN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor.

Grifols Plasma is strategically located along Mr. Joe White Avenue with clear visibility and access to an average of 16,200 vehicles passing by daily. The property also benefits from nearby access onto U.S. Highway 501 (65,600 VPD) and Robert M Grissom Parkway (28,000 VPD), making it a centralized location with easy commutes. The asset is ideally situated within a dense retail trade area as it lies adjacent to Seaboard Commons (354K+ SF) and is near Broadway at the Beach (447K+ SF) and Coastal Grand Mall (1.38M+ SF). The surrounding national/credit tenants include Target, Lowe’s, T.J. Maxx, HomeGoods, The Home Depot, Walmart Supercenter, Costco Wholesale, and others. The strong tenant synergy drives a loyal, local consumer base to the area, promoting crossover exposure and contributing to the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including Sandygate Village (104 units), Carolina Breeze (168 units), Monticello Park (192 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 98,900 residents and 55,200 daytime employees, with a healthy average household income of $91,193.