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INVESTMENT HIGHLIGHTS
Absolute NNN Lease with No Landlord Obligations - The Property is subject to an absolute triple net lease with no Landlord maintenance obligations of any nature. All operating expenses are paid directly by the Tenant.
Rare 2.5% Annual Rental Increases – The typical WellNow lease features 8-10% annual increases every 5 years. This outstanding lease offers annual rental escalations of 2.50% throughout the original term and during the two (2), ten (10) year renewal options, providing bolstered returns and a hedge against future inflation.
Rare 10-Year Option Periods – The typical WellNow lease features two 5-year renewal options. The subject property's lease benefits from having two 10-year renewal options.
Attractive Rental Rate Below National Average - The Lease features an annual rent of $17.33 PSF, well below the national average for WellNow leases. WellNow Urgent Care rents have ranged from $38.75 PSF to as high as $54.47 PSF.
Healthy Historic Profitability and Operational Success - The Lease features unit level financial reporting, rare to WellNow leases, which allows investors transparency to how this location is doing.
Trusted Regional Operator – Over the past 30 years, Physicians Immediate Care has grown into an established operator, serving over one million patients at its 42 locations in Illinois and Indiana. In 2022, WellNow Urgent Care completed its strategic acquisition of Physicians Immediate Care. Together they have over 200 locations.
Joint Venture with OSF Healthcare System – In November 2017, PIC and OSF HealthCare formed a joint venture to operate five clinics in the Rockford area. The Property benefits from the consumer trust and recognition of the dominant health system, and the significant investment OSF made in the operation.
