New Haven, CT - Yale New Haven Hospital

Description:

The SRS Investment Properties Group is pleased to present the rare opportunity to acquire the leasehold interest in the Yale New Haven Hospital mixed-use development, a corporate guaranteed, absolute NNN leased, zero cash flow investment property located in New Haven, Connecticut. The tenant, investment grade (AA-) Yale New Haven Hospital System, has over 19 years remaining in its initial term with 2 (5-year) options and an additional 2 (7.5-year) options if it exercises its first two extensions. The property consists of 88,482 SF of rental space which includes the 26,396 SF Suites at Yale New Haven hotel, 46,587 SF of office space and residential housing, and 15,500 SF of street level retail with several local tenants.

The subject property is strategically located within a high density trade area with more than 258,000 residents ($72,600 AHHI) and 154,000 employees in a 5-mile radius. The site features excellent street frontage and access with combined traffic counts exceeding 44,000 vehicles per day. Yale New Haven Hospital has occupied this location since its redevelopment in 2009 and the site caters to the adjacent Yale New Haven Hospital campus. The adjacent hospital campus, which includes the flagship Yale New Haven Hospital, the Smillow Cancer Hospital, and the Yale New Haven Children’s Hospital, employs over 17,000 doctors and administrative staff, and treats 1.4+ million patients every year. In addition, the subject property is less than 1/2 mile away from Yale University, with over 16,700 students and 4,400 academic staff.