Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Attributes

Lease Type Modified Gross
Lease Expiration 2029-05-01
Remaining Term 8 years, 4 months
Tenant Option Care Health Inc
Building Area
Land Area ()

Property Description

JLL is pleased to exclusively offer the opportunity to acquire a single tenant medical office property leased to Option Care Health in Somers Point, NJ, a suburb of Atlantic City. Option Care, who is the largest independent home and alternate site infusion services provider in the United States, recently extended their lease by 7 years, showing a commitment to the location. Now, there are more than 8.5 years of remaining lease term and one (1), ten (10) year option still in place.

Investment Highlights

  • In August 2019, Option Care and BioScrip completed a merger to form Option Care Health. Now, the company is the largest independent home and alternate site infusion services provider in the United States. The company contains over 6,000 team members including 2,900 clinicians who work diligently to provide unmatched care for their patients in all 50 states.
  • Option Care Health recently executed an amendment, extending their lease for 7 years and demonstrating a commitment to the location. There are now more than 8.5 years remaining on the lease, with one (1), ten (10) year option period.
  • Notable medical facilities such as Shore Medical Center, AtlantiCare Urgent Care, CHOP Primary Care, Shore Vascular & Vein Center, and Med 4 Kids among others surround the premises, helping identify this section of Somers Point as a destination medical office location.
  • The Property is just a half mile from New Road (Route 9), the main retail corridor in the area that boasts 16,000 VPD and is home to nationally recognized retailers such as ACME, Big Lots, PetSmart, Wells Fargo, McDonald’s, Dunkin’ and more.
  • Somers Point, NJ, which is the oldest settlement in Atlantic County, is just 13 miles away from Atlantic City, NJ. Atlantic City is the gaming capital of the Northeast and one of America’s premier resort and entertainment destinations.
Last Updated Date: 02 Dec 2020
Steve Schrenk
Steve Schrenk
Director, Capital Markets
License details
NJ-1433421
Marc Mandel
Marc Mandel
Managing Director, Capital Markets
License details
PA - AB068236 DE - RS-0019936 NJ - 0894218

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Last Updated Date: 02 Dec 2020

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