Connecticut Children’s Medical Center

191 Post Road West, Westport, CT
Deal Type:
Net Lease
Price:
$22,194,362
Cap Rate:
5.25%
Current Rent:
$1,165,204
Lease Type:
Triple Net
Lease Term:
13 years
Landlord Responsibilities:
Structural Elements
Renewal Options:
Three, 5 year options
Building Sq. Ft.:
31,492 SF
Rent Increases:
2% increases annually, beginning in 2025
Site Size:
1.47 Acres

Investment Highlights

  • CREDIT: Fully guaranteed by Connecticut Children’s Medical Center with no termination options or ability to assign to an inferior tenant: CCMC is a nationally recognized children’s hospital with a staff of more than 1,000 in more than 30 specialties, a history of over 100 years, operates over 40 locations and also serves as the primary pediatric teaching hospital for the UConn School of Medicine.
  • COMMITMENT: The tenant has signed a 13 year* lease expiring in 2035 for the entire 191 Post Road facility. They have been seeking a location within Fairfield County for over 10 years and this commitment provides an investor a long-term cash flow stream with an excellent credit healthcare provider.
  • LOCATION: High barrier to entry market in Fairfield County, CT. Westport zoning has a moratorium over any property that is in excess of 30,000 sq. ft. The approved medical use along Connecticut’s highly desirable Gold Coast for the 31,482 sq. ft. facility allows an investor to realize substantial residual value benefits. This state-of-the-art facility will have long term intrinsic value stemming from medical tenant demand seeking to take advantage of this sought-after payer base.
  • DEMOGRAPHICS: Average Household incomes are $287,228, $213,831 and $201,861 within 1, 3 and 5 mile radius’s of the subject location. The tenant specifically sought out this payer base when looking to open a state-of-the-art facility in Fairfield County.

Listing Agents

Sasha Dominguez

Vice President
786 443 4960
Sasha@stream-cp.com

Phil DiGennaro

Managing Director
203 610 1541
phil@stream-cp.com

Taylor Trepinski

Vice President
786 684 1975
Taylor@stream-cp.com
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