The South Bend Clinic: New Carlisle, IN
Office | 6.40% CAP | 7,037 SqFt
Marketing description
Situated 14 miles west of South Bend, The South Bend Clinic is positioned along County Line Road (2,214 VPD), where it is feet from the intersection with US-20 (5,980 VPD) and 2 miles north of IN-2 (18,380 VPD). Commenced in 2021, the absolute NNN lease features ±15.3 years of primary term remaining with 2% annual rent increases throughout the term and in the five, 5-year renewal options. Rent in the fourth and fifth options is initially set to Fair Market Rental Value. South Bend Clinic is adjacent to Northwest Medical Group and is across from CVS, New Carlisle Animal Clinic, 1st Source Bank, and Dollar General Market.
Investment highlights
PREMIER HEALTHCARE BRAND
The South Bend Clinic is a dominant, physician-led multi-specialty group that has served the Michiana region for over a century. Operating as the area’s premier “one-stop” healthcare provider with over 170 providers and 12 locations, the clinic entered into a transformational partnership with Duly Health and Care in June 2021. This agreement united the largest physician-owned groups in Indiana and Illinois, respectively, and established The South Bend Clinic as one of the three major medical groups under the Duly brand. It now serves as a key hub for Duly’s regional expansion, integrating its local expertise with Duly’s extensive network to accelerate the progression toward value-based care.
GREAT LAKES PHYSICIAN ADMINISTRATIVE SERVICES, LLC
Tenant under the lease—Great Lakes Physician Administrative Services, LLC—is South Bend Clinic’s primary operating entity. DMG Illinois Investments II, LLC (Guarantor) operates all Duly Health and Care locations, except for one surgery center in Naperville.
ESSENTIAL MEDICAL REAL ESTATE IN AN ECONOMICALLY DRIVEN SECTOR
The subject property is a critical, recession-resistant asset providing essential family medicine and primary care services in New Carlisle, IN, making it a vital piece of the region’s top economic driver: healthcare.
AFFLUENT DEMOGRAPHICS
South Bend Clinic benefits from affluent demographics with a population of 8,245 and average household income of $101,946 within a 5-mile radius.
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