Locust Grove Physician Center is a newly-constructed 40,000 square foot outpatient medical office, which is 100% leased to a credit worthy tenant. The building is a Class A purpose-built medical office which will provide limited capital expenditure over the hold period.
As a 100% leased building to investment grade tenancy with over 6.5 years of term and 2.5% annual rent escalations, the property is well positioned for growth.
Located at the highly visible I-75 / Bill Garner Parkway interchange, the property is well positioned at the midway point of travel between Atlanta and Macon. As growth continues to move south from Atlanta and north from Macon, the key growth areas are converging in Locust Grove. Within a 10-mile radius of the subject property, the population is expected to grow at roughly 1.25 times that of the overall Atlanta MSA.
As a 100% leased building to investment grade tenancy with over 6.5 years of term and 2.5% annual rent escalations, the property is well positioned for growth.
Located at the highly visible I-75 / Bill Garner Parkway interchange, the property is well positioned at the midway point of travel between Atlanta and Macon. As growth continues to move south from Atlanta and north from Macon, the key growth areas are converging in Locust Grove. Within a 10-mile radius of the subject property, the population is expected to grow at roughly 1.25 times that of the overall Atlanta MSA.
The high-quality, healthcare-system-anchored asset profile is consistent with our investment thesis of capturing the demand tailwind for outpatient facilities that provide affordable and convenient access to ambulatory outpatient medicine, versus high-cost inpatient care.
Further information
- Atlanta is well positioned for fiscal recovery from COVID largely due to its strong net migration rate for 2020, low projected unemployment rate, low concentration of small business employment, and its relatively stable fiscal outlook.
- The global headquarters of 15 Fortune 500 companies are in Atlanta, including Coca-Cola, The Home Depot, and Delta Air Lines.
- Emory University and Georgia Tech comprise more than 41,000 undergraduate and graduate students, giving a large student presence in Atlanta.
- High-tech employment in Atlanta grew at least 3% per year from 2011-2016.
- 38% of the population has achieved a bachelor’s, graduate, or professional degree.
- Hartsfield-Jackson Atlanta International Airport has served more than 100 million passengers per year since 2015.
