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JLL is pleased to offer for sale the fee simple interest in a medical office property located in Noblesville, Indiana. The property is leased to Community Health Network, one of the largest healthcare systems in Indiana with $2.6 billion in annual revenue and over 1,000 hospital beds. Community Health Network is operating on a double-net lease structure with minimal landlord responsibilities, annual rental increases, and more than eight years of remaining lease term. The property serves as an otolaryngology office and is one of only two otolaryngology offices within a five-mile radius, providing it with significant market share. This offering presents the opportunity to acquire a medical office leased to an investment grade tenant with a high margin medical practice and limited competition.
- Double-net lease with 8+ years of term remaining and minimal landlord responsibilities
- High margin medical practice with significant market share
- 2%annual rental increases
- Investment grade tenancy from Community Health Network Inc. (Moody's: A2)
- Adjacent to $53 million development project
- 108.5% population growth within 5-mile radius since 2000