Central Vermont Medical Center

Horvath & Tremblay is pleased to present the opportunity to purchase the Central Vermont Medical Center located at 244 Granger Road in Barre, Vermont (the “Property”).​ The Property is comprised of two freestanding medical buildings, both leased to Central Vermont Medical Center, that contain a total of 26,492 square feet on a well-maintained and well parked 4.0-acre parcel of land.​ The Central Vermont Medical Center has been at this location (in both buildings) since 2009, and recently exercised their renewal options, demonstrating their commitment to the site and the market.​ Central Vermont Medical Center has 4+ years remaining on both double net leases with one (1), 5-year renewal option remaining for each.​

The Property benefits from its central location just off VT Route 62, with close and convenient access to US Route 302 and Interstate 89.​ The Property is approximately 0.25-miles from the Edward F Knapp State Airport.​ The Central Vermont Medical Center is strategically positioned in between downtown Montpellier and downtown Barre, both approximately 5-miles away.​ The Properties also offer convenient access to northern Vermont’s other cities including Burlington and St Johnsbury, as well as Lebanon, NH at the confluence of Interstates 89 and 91.​

LONG TERM LEASE: Central Vermont Medical Center has occupied both buildings on the Property since 2009 and recently exercised their renewal options, demonstrating their commitment to the site and the market. Central Vermont Medical Center has 4+ years remaining on both double net leases with one (1), 5-year renewal option remaining for each lease.

DYNAMIC TENANT: The Property is leased to the University of Vermont Medical Center, Inc, which owns and operates Central Vermont Medical Center, Inc. The Central Vermont Medical Center, Inc is the primary health care provider for 66,000 people who live and work in the 26 communities of central Vermont. It provides 24-hour emergency care, with a full spectrum of inpatient and outpatient services. Their professional staff includes over 200 physicians and 70 advanced practice providers representing 25 medical specialties. Care is not only provided at the hospital, but also at CVMC’s 27 community-based medical group clinics and local physician practices.

SCHEDULED RENT INCREASES: Both Central Vermont Medical Center leases call for attractive 10% rent increases at the start of each renewal option providing a steady increase in income and an attractive hedge against inflation.

MINIMAL LANDLORD RESPONSIBILITIES: The Tenants reimburse 100% of real estate taxes, insurance, and common area maintenance, protecting against rising costs and making this an attractive investment for the passive investor.

STRATEGIC LOCATION: The Property benefits from its central location just off VT Route 62, with close and convenient access to US Route 302 and Interstate 89. The Property is approximately 0.25-miles from the Edward F Knapp State Airport. The Property is strategically positioned in between downtown Montpellier and downtown Barre, both approximately 5-miles away. The Property also offers convenient access to northern Vermont’s other cities including Burlington and St Johnsbury, as well as Lebanon, NH at the confluence of Interstates 89 and 91.

AREA ECONOMIC DRIVERS: The Property is well positioned within the area’s commercial district. The immediate area along Granger Road is home to several industrial/warehouse facilities, and the area’s primary retailers are within 1-mile of the Property, including, the Berlin Mall, Walmart Supercenter, Shaw’s, and Kohl’s. Additionally, the Property is less than 1.5-miles from the Central Vermont Medical Center Hospital, Vermont Psychiatric Care Hospital, Berlin Health & Rehab Center, and several UVM Health Network facilities. The US Route 302 corridor also features additional retailers including Price Chopper, TJ Maxx, CVS, Panera Bread, Starbucks, McDonald’s, Burger King, and KFC.

E-COMMERCE RESISTANT INVESTMENT: With an Aging baby-boomer population, and strong area demographics, the need for brick and mortar medical office buildings will continue to increase. This industry is unaffected by recessions and the need for personal interaction and specific medical aids can not be satisfied through e-commerce.

DEMOGRAPHICS: More than 27,400 people live within 5-miles of the Property with an average household income of $101,436 and approximately 46,900 people live within 10-miles of the Property with an average household income of $103,075.