Memorial Hospital Medical Office | Gulfport, MS
Sands Investment Group is Pleased to Present For Sale the Memorial Hospital Medical Office Located in Gulfport, Mississippi. Currently, 82% Occupied, This Opportunity Provides a New Owner a Desirable Mix of Stable Income With Immediate Upside Potential Through the Lease-Up of the Existing Vacant Spaces. Featuring Recent Commitments From Memorial Health System and LabCorp, These Creditworthy Tenants Anchor the Building and Represent More Than 90% of the Income Stream at the Property.
- EXCELLENT HOSPITAL ANCHOR: Memorial Health System is One of the Largest Healthcare Organizations in Southern Mississippi With 5,000 Employees and Over 400 Physicians; Highlighted By the Memorial Hospital at Gulfport, Memorial Health System Supports Over 190 Specialty Practices
- MEMORIAL HOSPITAL AT GULFPORT: Memorial Hospital at Gulfport is a 328- Bed Acute Care Hospital and Medical Campus That Encompasses Nearly 30 Acres in Downtown Gulfport; Memorial Hospital is Currently Ranked as a Best Hospital in Mississippi By U.S. News & World Report, Ranking 1st in Coastal Mississippi and 3rd in the State of Mississippi; In 2022, Total Revenue For the Hospital Reached Nearly $800 Million; Memorial Hospital is Located Within Walking Distance From the Property
- INSTITUTIONAL GRADE TENANCY: Highlighted By Memorial Health and Labcorp (NYSE:LH) More Than 90% of the Income From the Property is Generated From These Credit/Creditworthy Tenants; in August 2022, LabCorp Received a Baa2 Rating From Moody’s and a Rating of BBB From S&P; Memorial Hospital is Currently Rated BBB- By Fitch Ratings
- VALUE-ADD OPPORTUNITY: Currently 82% Occupied, the Property Provides a New Owner the Opportunity to Capture Immediate Upside Through the Lease-Up of the Existing Vacant Spaces of 1,500 SF and 2,530 SF, Respectively
- RECENT TENANT COMMITMENT: Showing Its Commitment to the Location, Memorial Health Recently Renewed Its Largest Leased Space of 5,600 SF For an Additional Five Years; Labcorp Also Extended Its 3,861 Second Floor Suite in February For an Additional Five Years; These Renewals Represent Nearly 40% of the Rentable Area in the Property
- STRONG ECONOMIC DRIVERS: Aside From Memorial Hospital, Other Notable Economic Drivers Within the Trade Area Include: Naval Construction Battalion Center – 1,100 Acre U.S. Navy Industrial Complex; Island View Casino Resort – 800,000 SF Resort and Gaming Facility With Two Hotel Towers Containing 974 Rooms; Mississippi State Port Authority at Gulfport – 250 Acre Facility With 400,000 SF of Warehouse Space That Employs More Than 400 Skilled Workers
In Cooperation With Sands Investment Group Mississippi, LLC – Lic. #22675 BoR: Andrew Ackerman – Lic. MS #22616
View Similar Investment Opportunities
Read Additional Thought Leadership Content From SIG, Specializing in Absolute Triple Net Lease Opportunities
