Atrium Health - Shelby, NC

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the fee simple interest in a single tenant medical imaging center located at 315 Weathers St. (the “Property” or “Asset”) in Shelby, NC. The Asset features exceptional credit-rated tenancy from Atrium Health (S&P: AA-; Moody’s: Aa3) (the “Tenant”), the leading integrated healthcare provider in North Carolina, on a brand new 10-year lease. The facility offers a range of advanced diagnostic imaging services and state-of-the-art radiology equipment and techniques, including MRIs, CT scans, nuclear medicine and PET scans, ultrasound, X-rays, and pediatric imaging tests and services. Atrium imaging operations at the Asset have a highly-sought after Certificate of Need, creating a barrier to entry for new competitive imaging nearby. The Property is across the street from the Atrium Health Cleveland Hospital, a 241-bed hospital, and is situated by 11 other medical offices in the immediate area. The Tenant recently announced a massive merger with Chicago-based Advocate Aurora Health in May 2022. The combined organization will become one of the country’s largest health systems and will serve 5.5 million patients, operate 67 hospitals, and generate over $27 billion in revenue. The Asset presents a rare opportunity to acquire highly sought-after medical office space in a Sun Belt state with a long-term lease and an investment-grade tenant. 

Alex Sharrin, Alex Geanakos, and Jeffrey Cicurel are limited nonresident commercial real estate brokers.

BEST-IN-CLASS HEALTHCARE TENANCY

• Atrium Health (S&P: AA-) has been a leading health system in North Carolina for 90+ years. The group recently announced a merger with Advocate Aurora Health, increasing the network’s scale to 67 hospitals and $27B+ in revenue.

STRATEGIC REAL ESTATE POSITIONING

• The Property is in a dense healthcare corridor with 11 nearby medical offices and sits directly across the street from the Atrium Heath Cleveland Hospital, a 241-bed facility.

LONG-TERM LEASE WITH ATTRACTIVE INCREASES

• The Tenant is signing a brand new, 10-year lease with limited landlord responsibilities and 2.5% annual rental increases.

STATE-OF-THE-ART MEDICAL OFFICE FACILITY

• The Asset, a leading advanced diagnostic imaging center, provides outpatient services such as MRI, digital mammography, advanced CT technology, ultrasound, fluoroscopy, bone densitometry, and x-ray.

• Atrium imaging operations at the Asset enjoy a Certificate of Need from the State of North Carolina which acts as a barrier to entry for new competitive imaging services.