Shreveport, LA - CenterWell Senior Primary Care

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NNN leased, freestanding, CenterWell Primary Care Center investment property located in Shreveport, Lousiana. The tenant, HUM Provider Holdings, LLC (S&P: BBB+ | NYSE: HUM), recently signed a brand new 10-year lease term with 2 (5-year) options, demonstrating their commitment to the site. The lease features a 15.90% rental increase at the beginning of year 6, as well as 12% increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is NNN leased with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. CenterWell Primary Care Centers are wholly owned by Humana (NYSE: HUM).

The subject property is strategically located nearby State Highway 3132, averaging 53,900 vehicles passing by daily. The asset is located 15 minutes away from downtown Shreveport, making this an ideal, centralized location with easy commutes for both employees and customers. The property benefits from nearby on/off ramp access onto U.S. Highway 171 (37,700 VPD), a major north/south traveling interstate. The asset is ideally located within a dense retail corridor with numerous surrounding national/credit tenants including a Walmart Supercenter, The Home Depot, Lowe’s Home Improvement, Dollar Tree, Family Dollar, among many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, the medical office property is near Willis-Knighton South & the Center for Women’s Health, a major local hospital in Shreveport with more than 775 beds. The 5-mile trade area is supported by over 96,200 residents and 50,000 daytime employees, with a healthy annual average household income of $73,111.