AFC URGENT CARE – MAULDIN, SC (GREENVILLE MSA)

HIGHLIGHTS:

• Bon Secours Mercy Health Guaranty|$10.8 Billion in ‘21 Revenue – Bon Secours Mercy Health is one of the top 20 largest health systems in the country and 5th largest catholic health system in the U.S. Bon Secours has 48 Hospitals and over 3,000 providers in seven states and also five locations in Ireland. The health system includes hospitals, emergency departments, specialty and primary care centers, lab facilities and imaging centers. Bon Secours operates 18 urgent cares in Upstate South Carolina in partnership with AFC Urgent Care, the second largest urgent care provider by location in the country.
• Brand New 2023 Construction – 10 Year Lease – The property will operate under a new 10 year lease that will feature minimal landlord responsibilities. The lease includes annual 2% increases in rent, helping a landlord grow net operating income and hedge against inflation. In addition to the 10 year base lease term, the tenant has two, five-year option periods, subject to the same 2% annual increases.
• Greenville MSA – Explosive Growth Metro – Mauldin is located in the Greenville-Anderson-Mauldin MSA which has the largest metropolitan population in South Carolina, encompassing over 930,000 people. Site Selection Magazine’s March ’23 report named the Greenville-Anderson-Mauldin MSA as the number one metro for populations under 1,000,000 people for corporate facility investment, with a total of 48 projects ongoing. South Carolina had the 4th highest net domestic migration and population increase in the United States in 2022. The subject property is located just eight miles from Downtown Greenville and Greenville Downtown Airport and 12 miles from Greenville-Spartanburg International Airport.
• Urgent Care – Essential and Recession Proof Tenant – The ongoing need for affordable and convenient healthcare, coupled with the aging baby boomer population, provides an investor with a phenomenal alternative to the traditional sectors of net leased properties. According to Grand View Research, the urgent care market size was valued at $52.7B in 2022 and is expected to expand at an annual rate of 10.9% through 2030. Experity Health has concluded that in December 2022, urgent care visits were up 47% over pre-pandemic volume.

EXCLUSIVELY LISTED BY:

DOMINIC SULO
Senior Managing Director Investments
Senior Director, Net Lease Properties Division
(630) 570-2171
dominic.sulo@marcusmillichap.com

BEN BACH
Associate
(630) 570-2181
ben.bach@marcusmillichap.com

SOUTH CAROLINA BOR
Ben Yelm
Lic #86628