The Boulder Group has completed the sale of a single tenant Mercy Health medical office building located at 325 South 6th Place in Lowell, AR for $4,900,000. The Boulder Group’s Zach Wright and Brandon Wright exclusively represented the seller in the transaction. The seller was a Midwest-based real estate investment firm and the purchaser was a local investor in a 1031 exchange.
The 15,000 square foot Mercy Health property is a family medicine and pediatric doctor’s office. The property is strategically located along Interstate 49 with visibility to 90,000 vehicles per day. The immediate area is rapidly growing with almost 4% projected annual population growth within a mile. The property is adjacent to the headquarters of J.B. Hunt, one of the world’s largest trucking companies and ranked 316 on the Fortune 500 list. The surrounding area is extremely affluent with average annual household income of $132,000 within three miles
Mercy Health has successfully operated at this property for approximately twenty years and recently signed a new long-term lease extension. The triple net lease includes 2% annual rental increases. Mercy Health is one of the largest health systems in the U.S. and the tenant is a wholly owned subsidiary.
“Well-located STNL medical properties are becoming highly sought after amongst private investors and private 1031 exchange buyers. We continue to see a “retailization” of medical investment properties. Due to the strong demand for STNL medical properties and properties in Northwest Arkansas, we were able to generate ten offers,” stated Zach Wright, Vice President.
“Investors are paying premiums for single tenant medical properties with proven successful operating histories and new lease extensions, such as the Mercy Health doctor’s office,” added Brandon Wright, Associate.
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high-net-worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $9 billion of single tenant net lease real estate transactions. From 2013-2024, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
For additional information, please visit www.BoulderGroup.com
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html
