JLL is pleased to offer the fee simple interest in a build-to-suit, single tenant healthcare facility representing the only pediatric specialty clinic in North County, St. Louis. Purpose-built for the Tenant in 2019, this 14,655 square foot pediatric center is 100% leased to SSM Cardinal Glennon Children's Hospital (“Tenant”), a major operating division of investment-grade Parent SSM Health Care (A1; stable outlook). Among St. Louis’ largest hospital systems, the Tenant is operating on a long-term net lease with 11.4 years of primary lease term remaining, 2.0% annual rent increases, and minimal landlord responsibilities.
Positioned in a highly accessible commercial node approximately 14 miles north of downtown St. Louis, this opportunity offers investors a best-in-class medical facility leased to a one of the largest local hospital systems who has operated in St. Louis for over 150 years.
INVESTMENT-GRADE HEALTHCARE SYSTEM WITH MAJOR LOCAL PRESENCE
- Headquartered in St. Louis, SSM Health is a Top 10 major employer and has grown into one of the largest integrated delivery systems in the region.
- Exceptional A1 credit Parent boasting revenues in excess of $8.6Bn, generating revenue and EBITDA CAGRs of 8.5% and 8.1% since 2017, respectively.
- Lease Guarantor is a major operating division of SSM Health Care and operates eight hospitals and employs over 2,500 physicians.
NEWLY CONSTRUCTED, STATE-OF-THE-ART MEDICAL FACILITY
- Purpose-built for Tenant in 2019 and home to SSM Health Cardinal Glennon Pediatric Specialty Services and SSM Health Medical Group Pediatrics.
- First and only pediatric specialty clinic in North County providing a wide array of medical services by St. Louis University’s dedicated healthcare professionals.
ROBUST ST. LOUIS HEALTHCARE MARKET WITH STRONG LOCAL DEMOGRAPHICS
- Strategically located adjacent to Interstate-270 (141,000 VPD) in a dense trade area containing over 246,000 residents within a 5-mile radius.
- Largest healthcare market in Missouri and among the largest in the Midwest.
LONG-TERM NET LEASE WITH MINIMAL LANDLORD RESPONSIBILITIES
- 11.4 years of lease term remaining with 2.0% annual escalations and two, ten-year renewal options offers a secure and growing income stream to hedge against inflation.
- Limited landlord responsibilities materially diminished by the Property’s recent 2019 construction.