Leesburg, FL - Optum Health

Description:

• The tenant currently has 3 years remaining on their initial lease with 1 (5-year) option to extend, demonstrating their commitment to the site
• The lease features 3% annual rental increases throughout the initial term and options thereafter, growing NOI and hedging against inflation
• Pivotal Health Care purchased the business from the owner in 2023 - The doctor has been at the location for 10 years and continues to work under their umbrella of doctors
• Below Market Rent of $21 PSF vs $27 PSF
• The doctor’s wife is occupying 2,000 SF of the location where she runs her practice and will be signing a lease at closing for 3 years with 1 (5-year) option to renew with a personal guarantee on that commitment
• The second tenant will be paying $2,000/month flat rent for the 3-year term with one option to renew

• The asset is ideally located in a dense retail corridor, with numerous nearby national/credit tenants including Publix, Walgreens, Circle K, Planet Fitness, Bank of America, NAPA, and many more
• Furthermore, the subject property is near Leesburg High School (1,774 students) and UF Health Leesburg Hospital (350-bed), and a 264-unit multifamily develoopment further increasing consumer traffic to the immediate trade area