Property Highlights
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of Humana | Portsmouth, VA. Humana has recently signed a 10 year lease at the newly constructed premises. The Asset is located within a multi-tenant retail development with ingress and egress on two main commuter thoroughfares, Turnpike Rd and Frederick Blvd.
- Strong Corporate Guaranty
- Humana is a public company with a market cap of $57.67B | S&P Rating of BBB+ | Over 220 locations
- Positioned in a Retail Hub
- Over 1.1M SF of retail space in a 1-mile radius | Nearby major retailers include Kroger, Walmart Supercenter, TJ Maxx, Chipotle, and Starbucks
- Highly Accessible Location
- Apart of retail development that provides cross access to Chipotle and Starbucks | Ingress and Egress on Turnpike Rd (6,700 VPD) and Frederick Blvd (19,000 VPD) | Direct access to Seaboard Square a 234 unit complex
- High Growth MedTail Asset Category
- MedTail (medical retail) continues on a high growth trajectory in the United States | Over 17.6MSF of medical space is under construction with another 19.7MSF planned
- Attractive Lease Fundamentals
- Humana signed a 10 year, NNN deal providing minimal landlord responsibilities | 10% rental increases every 5 years and option periods
- New Construction in Opportunity Zone
- New building is built to suit tenant’s operations | Warranties will be assigned to new owner | Opportunity Zone provides next owner tax benefits
(please consult a tax advisor on what tax benefits you may receive)
- New building is built to suit tenant’s operations | Warranties will be assigned to new owner | Opportunity Zone provides next owner tax benefits