This property is being offered using a Call for Offers method with the Call for Offers Date of September 15, 2021. Moreland Medical Office Building located at 615 Wesley Drive is a three story, 30,677 RSF medical office building built in 2002. The building is 96 leased to Roper St Francis Physicians Network which is 51 owned by Bon Secours Mercy Health, one of the 20 largest healthcare systems in the country. Mercy Health had $1.032 Billion in revenue in 2019. The Medical Society of South Carolina owns the remaining 49 . The Roper St. Francis renewal leases will commence on March 1, 2022 and run for 7 years to February 28, 2029. The estimated first year NOI effective as of March 1, 2022 is $659,617. Call for details.
| Acres | 1.88 |
| Area | West of the Ashley Inside I-526 to Ashley River |
| City Name | Charleston |
| County | Charleston |
| State | SC |
| Property Type | Office |
| Postal Code | 29407 |
| Square Feet | 30677 SF |
| Date Modified | 2021-11-18T07:53:56 |
| Property Status | Existing |
| Status | Pending/Contingent |
| Title | Moreland Medical Office Building |
| Zoning | GB |
Listed by: CBRE, Inc | 843-577-0702
Our investment team does ongoing market research and site analysis to determine the best locations geared towards our investment strategy.
We perform site inspections and consult with general contractors and architects to identify property improvement opportunities and cost estimates.
We do extensive property analysis including underwriting property historical cash flow, three tiered income modeling, future cash flow projections and IRR and cash on cash return profitability models.
Our team underwrites the current tenants and reviews all current lease agreements to determine an appropriate credit grade of the property and identify opportunities for improvement.
