Behaviorial Health Group - Portfolio Sale

Office: Medical/Dental

3329 University Ave SE, MinneapolisMN 55414

Property Details

Location

Address
3329 University Ave SE, MinneapolisMN 55414
County
Hennepin
Submarket
MN - Northeast

Building Size

Building Size
46,217 SF

Building Details

Type
 Office: Medical/Dental
Number of Buildings
3
Occupancy Type
Multi-tenant
Percent Occupied
100%
Building Class
B
Building Status
Portfolio
Floors
2
Year Built
1958
Sprinklers
Parking Ratio

Land & Utilities

Land (Acres)
0.49 Acres
Land (SF)
21,344 SF
Zoning
C1
Lot Depth
Lot Width

Contacts

Current Listings

3 Property Portfolio Sale

46,217 SF$16,143,800
Cap Rate: 6.25%

THIS SALE INCLUDES THE FOLLOWING ASSEMBLAGE:

•3329 University Ave SE Minneapolis, MN 55414

•11400 Julianne Ave N Stillwater, MN 55082

•1706 University Ave W St. Paul, MN 55104

-Portfolio of three Medical Treatment Centers in Minnesota. NNN leases

with annual CPI rent increases, ranging from 2.75% - 5.00%. (remainder

of CPI increase carried forward indefinitely)

-These locations have operated as Chemical Dependency Centers from

20 to 50 years. All properties have been leased to current tenant for

over 15 years. It is extremely challenging to receive zoning approval for

chemical dependency centers, making renewal highly likely due to these

barriers to entry.

-One property has a lease signed by BHG with a guaranty by BHG

Holdings LLC with 117 locations in 24 states. BHG is the largest network

of opioid treatment centers in the U.S.

-Two properties have a guaranty by Meridian Behavioral Health, LLC.

Meridian is one of over 150 companies owned by Audax Group which

has over $16 billion in assets.

-Meridian Behavioral Health is one of the fastest growing, leading

behavioral healthcare platforms in the country. Currently, there are 20

Meridian properties located throughout the Twin Cities metro and

surrounding communities.

THIS SALE INCLUDES THE FOLLOWING ASSEMBLAGE:

•3329 University Ave SE Minneapolis, MN 55414

•11400 Julianne Ave N Stillwater, MN 55082

•1706 University Ave W St. Paul, MN 55104

-Portfolio of three Medical Treatment Centers in Minnesota. NNN leases

with annual CPI rent increases, ranging from 2.75% - 5.00%. (remainder

of CPI increase carried forward indefinitely)

-These locations have operated as Chemical Dependency Centers from

20 to 50 years. All properties have been leased to current tenant for

over 15 years. It is extremely challenging to receive zoning approval for

chemical dependency centers, making renewal highly likely due to these

barriers to entry.

-One property has a lease signed by BHG with a guaranty by BHG

Holdings LLC with 117 locations in 24 states. BHG is the largest network

of opioid treatment centers in the U.S.

-Two properties have a guaranty by Meridian Behavioral Health, LLC.

Meridian is one of over 150 companies owned by Audax Group which

has over $16 billion in assets.

-Meridian Behavioral Health is one of the fastest growing, leading

behavioral healthcare platforms in the country. Currently, there are 20

Meridian properties located throughout the Twin Cities metro and

surrounding communities.

View Details
View Details

Commercial Location Score (CLS) is a scoring system developed by Moody's Analytics to help commercial real estate professionals gain a quick understanding of the major factors that affect the value of a location. It's designed as a means to consistently evaluate a location's suitability/desirability for a particular use based on a number of factors.

©Copyright 2001-2022 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Catylist Real Estate Software, Inc. does not assume any liability for errors or omissions.

Commercial Exchange is a national commercial real estate marketplace powered by Catylist.