VA HEALTHCARE CENTER

Price

Unstated

NOI

Unstated

Building Size

86,363 SQ FT

Tenant

Veterans Affairs

Occupancy

100%

Property Type

Medical Office

Year Built

2017

Lot Size

14.88 Acres

Status

Sold

Lease Term

15 Years

Property Contacts:

Travis Trautvetter

Vice Chairman

858 558 5609 | Email

SINGLE-TENANT FEDERAL GOVERNMENT FACILITY
Property is 100% leased to the United States Federal Government.

Aaa CREDIT TENANCY
Lease is guaranteed by the United States of America, which has a credit rating of Aaa from Moody’s Investor Services.

NEW 15-YEAR LEASE
Property is leased via a new 15-year lease term, providing the owner with long-term, secure, and consistent cash flow.

BUILD-TO-SUIT CONSTRUCTION FOR VETERANS AFFAIRS
New, state-of-the-art, build-to-suit healthcare facility for Veterans Affairs.

DESIGNED TO ACHIEVE LEED HEALTHCARE SILVER CERTIFICATION
Designed to achieve LEED Healthcare Silver Certification requirements upon completion.

EXPANSION AND RELOCATION OF EXISTING SOUTH BEND VA OUTPATIENT CLINIC
VA is relocating their South Bend clinic to this new build-to-suit facility, which will be approximately four times as large as the existing clinic.

MAJOR VETERAN POPULATION
South Bend VA Outpatient Clinic serves Elkhart County (Veteran population of approximately 14,000) and St. Joseph County (Veteran population of approximately 18,000).

IMMEDIATE PROXIMITY TO SAINT JOSEPH REGIONAL MEDICAL CENTER
The new South Bend VA facility is located in immediate proximity to the recently constructed, $350 million, 254-bed Saint Joseph Regional Medical Center.

The Veterans Affairs Saint Joseph County Health Care Center is a new, state-of-the-art, 86,363 square foot Veteran’s Affairs medical facility that will be completed and delivered to the VA in the third quarter of 2017. This new facility will serve as a relocation of the existing VA clinic in South Bend, and is approximately four times larger than the current VA clinic. The Veterans Affairs Saint Joseph County Health Care Center is located in an area with a significant population of Veterans, serving both Elkhart County with a population of approximately 14,000 Veterans and St. Joseph County, with a Veteran population of approximately 18,000.

Construction has commenced on the facility, which is leased to the U.S. Federal Government for a 15-year firm lease term, and is guaranteed by the United States of America, which has a credit rating of Aaa from Moody’s Investor Services. The lease was awarded in July of 2015, and the term will commence upon completion of the facility and acceptance by the VA. The project is designed to achieve LEED Healthcare Silver certification, evidencing the sustainability of this development.

The subject property is exceptionally located in Mishawaka, Indiana, in immediate proximity to the Saint Joseph Regional Medical Center, a recently constructed, $350 million, 254-bed hospital in an area that has become a hub for health care. The site is also located by major national retailers including Whole Foods, Walmart Supercenter, Lowe’s Home Improvement, and numerous others.