UPMC ($29B) | Class "A" MOB | Signaled Corner | Somerset, PA
UPMC ($29B) | Class "A" MOB Facility | 3.74 Acre Signaled Corner | PATP Inter. @ Somerset Hospital
Marketing description
CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE the UPMC backed Community LIFE building in Somerset, Pennsylvania. Delivered new in 2020 and situated on an oversized 3.74-acre parcel, this 13,300 SF Class “A” healthcare facility was purpose-built to support Community LIFE’s integrated senior care model, enabling older adults to age in place with dignity, independence, and a high quality of life. Strategically located within a concentrated medical hub including UPMC Somerset Hospital less than 2 miles away and the PA Turnpike Somerset interchange allowing for easy regional access.
Investment highlights
LONG-TERM LEASE WITH STRONG NONPROFIT GUARANTOR
The property is leased to and guaranteed by Pittsburgh Care Partnership/Community LIFE, a mission-driven nonprofit backed by UPMC and Presbyterian Senior Care Network. UPMC, the leader in specialty care and the #1 ranked medical provider across Central and Western Pennsylvania, executed a new 15-yr. NNN* lease that has over 8.5 years remaining on the initial term, with two 5-year renewal options thereafter.
NEW CONSTRUCTION CLASS “A” HEALTHCARE FACILITY
Delivered new in 2020, this 13,300 SF facility was specifically designed to support Community LIFE’s integrated healthcare model and offers the landlord little to no deferred maintenance. Additionally, the subject property is located on an oversized 3.74-acre parcel that allows for numerous redevelopments and/or re-tenanting of the existing building if ever necessary in the future.
PASSIVE OWNERSHIP
The NNN lease offers a passive ownership experience with minimal landlord responsibilities (roof & structure) or expenses. Community LIFE reimburses the landlord for real estate taxes, insurance, and common area maintenance (see lease abstract on page 8).
PROXIMITY TO MAJOR UPMC MEDICAL FACILITIES
The subject property is located within a concentrated medical hub including UPMC Somerset Hospital less than 2 miles away, UPMC-GoHealth Urgent Care directly across North Center Ave., and is surrounded by numerous other specialty medical providers including: cancer centers, primary care physicians, mental health clinics, OB/GYN, outpatient surgery, neurology, orthopedics, urology, cardiology, dialysis, prosthetics, and physical therapy, to name a few. Community LIFE operates as part of UPMC’s broader continuum of care, receiving referrals from UPMC Somerset and collaborating with specialists, hospitals, and nursing homes across the region.
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