Grants Pass, OR - Doctor's Court

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in Doctor’s Court, a 75% occupied, NNN leased, two-building, medical office project, located in Grants Pass, Oregon. The property has five tenants with the majority having leases that feature scheduled rental increases and renewal options. The tenant Asante Inc., (affiliated with the adjacent Asante Medical Center) occupies 26% of the property and accounts for 22% of the base rent. Lastly, the tenant Siskiyou Pediatric, which signed a 10 year lease in 2022, occupies 22% of the GLA and accounts for 19% of the base rent. The subject property is on an a large 5.86 acre parcel with excess land and the possibility for future 3rd phase medical office building expansion.

The subject property is strategically located adjacent to the Asante Three Rivers Medical Center, a 125-bed general acute care hospital. The immediate trade area serves a medical cluster, promoting collaboration between the hospital, medical offices and medical retailers. The property is conveniently located less than a half mile from on/off ramp access to Redwood Highway (U.S. Highway 199), averaging 32,000 vehicles passing by daily. Redwood Highway is the primary route through Grant’s Pass and the surrounding trade area. Redwood Highway runs through Grants Pass to the Oregon Coast and is the main route from northern CA and southern OR coastal cities to the I-5 corridor. The subject property is less than a half mile from the Allen Creek Commercial Center, a 80,000 SF neighborhood shopping center with tenants that include: Albertsons (anchor tenant), State Farm, McDonald’s, Great Clips, Subway, Dutch Bros., Taco Bell, and The Vine Restaurant. The 5-mile trade area is supported by nearly 57,000 residents and more than 25,000 daytime employees with an average household income of $74,747.