Jones Lang LaSalle Americas, Inc. (“JLL”), as the exclusive representative for the Owner, is pleased to present the offering of Omega Medical Center (the "Property"), a 77,511 RSF newly repositioned Class A medical office building, adjacent to the market leading Adventist Healthcare Shady Grove Medical Center in Rockville, Maryland. The Property is 76% leased to 9 tenants with over 6 years of weighted average remaining lease term. Omega Medical Center offers strong medical tenancy backed by attractive demographics in Shady Grove - average household incomes within a 5-mile radius of the Property are in excess of $150,000. The Property recently underwent a $1.9 MM repositioning, and over the course of 2020, had 3 medical tenants expand their premises. The asset offers attractive physical characteristics for immediate conversion of existing vacancy to lab, as well as go-forward conversion to lab as tenants' leases expire, in the heart of Shady Grove - the undisputed epicenter of Maryland's life sciences market.
Accordingly, Omega Medical Center is a rare and coveted opportunity to acquire a newly repositioned, Class A medical office building with stable, in-place cash flow and outstanding business plan optionality via growth of in-place medical tenants or lab conversion in the heart of Maryland's booming life sciences market.
- 77,511 RSF, NEWLY REPOSITIONED CLASS A MEDICAL OFFICE BUILDING ADJACENT TO THE MARKET LEADING ADVENTIST HEALTHCARE SHADY GROVE MEDICAL CENTER
- 76% LEASED TO 9 TENANTS WITHOVER 6 YEARS OF WEIGHTED AVERAGE REMAINING LEASE TERM
- STRONG MEDICAL TENANCY BACKED BY ATTRACTIVE DEMOGRAPHICS: 5-MILE AVERAGE HOUSEHOLD INCOMES ARE IN EXCESS OF $150,000
- GROWING TENANCY: 3 TENANTS EXPANDED OVER THE COURSE OF 2020 AND ANCHOR TENANT POTOMAC PEDIATRICS HAS EXPANDED 3 TIMES SINCE INITIAL OCCUPANCY IN 2012
- NEWLY REPOSITIONED WITH $1.9 MM IN RECENT CAPITAL IMPROVEMENTS
- LOCATED AT THE EPICENTER OF THE MARYLAND LIFE SCIENCES MARKET → OUTSTANDING PHYSICAL ATTRIBUTES FOR LAB CONVERSION
- OUTSTANDING BUSINESS PLAN OPTIONALITY VIA CONTINUED GROWTH OF MEDICAL TENANCY AND/OR LAB CONVERSION
- FREE & CLEAR OF EXISTING DEBT