Edison Lakes Medical Center
Investment Opportunity: Edison Lakes Medical Center, Mishawaka, IN.
Marketing description
Edison Lakes Medical Center (“ELMC”)is a multi-tenant medical outpatient condominium property totaling 49,020 square feet, locate ddirectly along Day Road within the Edison Lakes medical community in Mishawaka, Indiana. The property is campus-adjacent to Saint Joseph Regional Medical Center, positioning it within one of the area’s most established healthcare corridors. ELMC is part of an approximately 80,000 square foot healthcare-oriented development, with St. Joseph occupying approximately 22,600 square feet at the front of the project. This strategic placement supports strong referral patterns, consistent patient traffic, and convenient access throughout the South Bend–Mishawaka metropolitan area.
The property is currently leased to a diverse mix of eight healthcare providers, including nationally recognized operators such as LabCorp and Fresenius-affiliated FMS Nephrology, alongside a complementary group of specialty practices spanning sleep medicine, nephrology, allergy and immunology, behavioral health, diagnostics, and outpatient clinical care. This tenant mix supports a stable and resilient income stream driven by essential-service providers with consistent demand across economic cycles
Investment highlights
Essential-Service Healthcare Providers
Edison Lakes Medical Center is fully occupied by eight operators delivering recurring, high-demand medical services—including sleep medicine, nephrology, allergy/immunology, behavioral health, clinical diagnostics, and outpatient care. This diversified composition supports consistent utilization and stable long-term occupancy.
NNN Lease Structures With Minimal Landlord Obligations
All tenants operate under true NNN leases. This structure significantly reduces operational oversight and ensures predictable, durable net operating income for ownership.
Diversified Rent Roll Across Eight Distinct Medical Specialties
No single tenant represents more than 20.7% of the GLA, and the building’s tenant roster spans a broad range of specialty sectors. This diversification minimizes income concentration risk and enhances the resiliency of cash flow.
LabCorp Credit (NYSE: LH)
LabCorp, one of the nation’s largest diagnostic laboratory operators, provides institutional-grade credit and daily clinical activity that reinforces the property’s overall stability and strengthens investor confidence.
Built-In Contractual Rent Growth
The building benefits from a weighted average annual escalation of 2.19%, supporting consistent NOI growth and providing a natural inflation hedge throughout the investment hold period.
High Tenant Stickiness Driven by Specialized Medical Buildouts
Tenants occupy spaces designed for medically regulated and equipment-intensive uses, including dialysis treatment centers, sleep study labs, allergy testing facilities, and diagnostic suites. These environments require material capital investment and certification standards, reducing relocation probability and increasing tenant retention.
Strategic Positioning Within a Mature Healthcare Corridor
Located adjacent to St. Joseph Regional Medical Center and surrounded by complementary providers, the property benefits from entrenched referral patterns, dense patient populations, and sustained healthcare demand within the broader South Bend–Mishawaka region.
Recession-Resistant Utilization and Demand Drivers
Core specialties such as nephrology, allergy/immunology, laboratory testing, and sleep medicine maintain high utilization irrespective of macroeconomic conditions. This essential-service profile aligns with investor demand for stable, cycle-resistant medical real estate.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
