77% OCCUPIED MOB - ANCHORED BY FOREFRONT DERMATOLOGY
One of Forefront Dermatology’s Top-Producing Clinics Serving All of Mobile County and South MS
Marketing description
Cook Commercial Partners is pleased to present the Forefront Dermatology facility (dba Advanced Dermatology & Skin Care Centre) located in Mobile, Alabama. This two-story, 21,012-square-foot medical office building was built-to-suit in 2015 for Advanced Dermatology & Skin Care Centre and features high-quality construction tailored for medical use. The property is currently 77% occupied, with Forefront Management, LLC leasing approximately 74% of the space and Advanced Care Pharmacy occupying an additional 3%.
Forefront Dermatology recently expanded into 4,330 additional square feet and extended its lease through January 31, 2032. The lease includes attractive 1.50% annual rental increases and one 5-year renewal option, providing stable long-term income growth. This offering presents investors with a well-located, cash-flowing medical asset anchored by a strong tenant, along with value-add upside through the lease-up of the remaining 5,039 square feet (23%) of vacant space.
Forefront is the largest, most diversified dermatology group practice in the US, with over 250+ clinic locations across 26 states. Forefront Dermatology enables its partner physicians to enjoy the financial and personal rewards of private practice, along with the professional support of a large, successful, physician-led dermatology practice.
Investment highlights
• 77% Occupied By Forefront Management, LLC dba Advanced Dermatology & Skin Care Centre and Advanced Care Pharmacy
• Value-Add Opportunity Through Build-Out and Lease-Up of Remaining Vacant Space
• The Forefront Lease Is Guaranteed by Forefront Dermatology –Forefront Is The Largest, Most Diversified Dermatology Group Practice In The US, With Over 250+ Clinic Locations Across 26 States
• Established Operating History – Operator, Advanced Dermatology, Has Successfully Grown The Practice To 6 Local Locations Throughout Alabama and Florida
• NNN Lease Structure – Limited Landlord Responsibilities
• Attractive 1.5% Annual Rental Increases with One 5-year Renewal Option - The Forefront Lease Includes a ±10% Market-Correction Clause at Renewal, Providing a Fair Rent Reset While Protecting The Landlord From Significant Reductions
• Built-To-Suit Facility for Tenant in 2015 and Expansion of Additional Space in 2025
• Property Is Strategically Located Next To Ascension Providence Hospital: A 349-Bed Hospital With 24/7 Emergency Care Level III Trauma Center
• Strong Population Demographics With Over 137,000+ People Within A 5-Mile Radius
• Main Hub for Advanced Dermatology & Skin Care Centre – One of Forefront Dermatology’s Top-Producing Clinics Serving All of Mobile County and South Mississippi
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