Seventh Avenue Medical Center and Surgery Center

Project Overview

PRECAP’s managing principal represented a partnership of physicians affiliated with Chardon Surgery Center and Precision Orthopaedics. At close of escrow, the anchor tenants in the building signed new ten-year leases with annual rent escalations. Prior to going to market, ownership was consulted on how various lease terms and structures will impact the value of the building. This process allowed the physician partnership to determine a satisfactory lease term and rental rate that maximized the value of the building while also reducing the long-term occupancy costs of the tenants. The buyer was a private equity firm with a concentration on healthcare assets.