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Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale a newly renovated, single-tenant WellNow Urgent Care in Berea, OH (the “Property”). WellNow (the “Tenant”) is subject to a recently executed 10-year net lease, with three (3) five-year options and attractive 8% rent increases every 5 years. The Tenant is one of the fastest-growing urgent care providers in the country, having identified the Property's location as a strategic site in their expansion efforts in the state of Ohio. The Property’s location was attractive to the Tenant given the hard-corner, centralized positioning directly adjacent to Baldwin Wallace University.
The Offering presents the opportunity for attractive cash flow on a landlord friendly net lease structure with a corporate guaranty from one of the leading urgent care tenants in the country.
BROKER OF RECORD: BILL POFFENBERGER LICENSE #: OH - 352247
WELLNOW IS A LEADING URGENT CARE TENANT
- WellNow has been one of the top 10 urgent care providers in the U.S. with a rare Urgent Care Association accreditation.
BRAND NEW 10 YEAR NET LEASE
- The Property provides a newly renovated building and will be subject to a recently executed 10-year lease with WellNow, featuring three (3) five-year options and attractive 8% increases every five years.
ATTRACTIVE HARD-CORNER LOCATION NEAR THE UNIVERSITY
- The Property is situated on a hard-corner location in Berea, Ohio directly adjacent to the campus of Baldwin Wallace University, a four-year college with over 4,000 students and faculty.
TENANT HAS ESTABLISHED GROWTH PLANS IN THE OHIO MARKET
- Ohio is the fifth market that WellNow has expanded to, now having 32 established urgent care centers in the state. The subject Property’s location was highly sought-after by WellNow and fills an urgent care need in the market.