Memorial Medical Office Park

Overview

Ackerman & Co. exclusively presents for sale the Memorial Medical Office Park and billboard located in Decatur, GA. Uniquely positioned at the northeast quadrant of Memorial Drive and Interstate I-285, the offering contains four buildings totaling 27,324 SF and a two-sided billboard on I-285 visible to 200,000 VPD and over 42,000 VPD on Memorial Drive. Genesis Alliance for Mental Wellness occupies the entire medical office park.

Sales price: $2,975,000

Investment highlights:

• Occupied by a single tenant, Genesis Alliance for Mental Health, which has operated at the property since 2007 and has grown to lease the entire office park, recently signing a 7-year lease extension.
• Below market rental rate of $7.86 per SF
• Approximately 3.5% annual rental rate escalations – upside to protect against inflation
• CAPex Items have been completed with newer roofs and brand new parking lot, curb and gutter, and striping
• Billboard visible to 200,000 vehicles per day along I-285
• The billboard has a lease that can be terminated, providing a buyer control over the signage and usage
• The property is strategically located at the northeast corner of Memorial Drive and Interstate I-285, adjacent to the Memorial Drive Shopping Center and fronts the entrance ramp onto Interstate I-285
• It is also directly across the street from the DeKalb County government complex