10 Jolley Dr
Bloomfield, CT 06002

The subject property is a medical office building leased to Hartford Hospital starting on January 1st, 2020 and expires March 31st, 2035. This 15-year triple net (NNN) lease includes 7% rent increases every five years and three five-year renewal options at market rent. The property is situated on 1.56 acres along Route 218, which has over 24,000 vehicles passing the site per day. The tenant is backed by an investment grade credit with a corporate guarantee (S&P Credit Rating: A). The lease is a triple net lease with the tenant responsible for taxes, insurance, maintenance (including roof and parking lot maintenance), and replacing/repairing HVAC. The landlord is responsible for replacement of the structure, roof, and parking lot. This is an excellent opportunity for an investor to acquire a newly renovated medical office building as the landlord is investing over two million dollars into the property and delivering to the tenant in shell condition. The tenant is building an ambulatory surgery center (endoscopy/GI) and a digestive clinic. Their investment ill be very significant over and above the site, shell, and utility work the landlord is doing. Also included in these renovations is a brand new roof. This is a long-term lease with increases throughout the base term and option periods along with minimal landlord responsibilities. Other retailers in the market include McDonald’s, Burger King, Subway, IHOP, Starbucks, Boston Market, GameStop, AT&T, Sprint, Stop & Shop, Lowe’s, Home Depot, Goodwill, Habitat for Humanity Restore, Firestone Complete Auto Care, The Good Dog Spot, and others.