Milestone Medical Office Building Portfolio
Category: Medical Office Buildings
The Milestone Medical Office Building Portfolio is comprised of five medical office buildings, Benton Home Health Medical Office Building, Benton Medical Plaza I & II, Jersey City Medical Office Building, and Bryant Medical Office Building.
Located on the campus of Saline Memorial, Home Health Medical Complex is a two-story medical office building of approximately 10,000 square feet, completely leased to the hospital under a triple net lease agreement expiring in 2024.
Medical Park Place I & II is a four-story, two-tower medical office complex totaling approximately 79,000 square feet on the campus of Saline Memorial Hospital in Benton, an affluent suburb of Little Rock. Built in 1992 and 1999, the medical office buildings are connected to each other and the hospital via sky bridges. Saline Hospital is a full-service, 167 bed acute care facility that has served the region for more than 50 years.
Jersey City Medical Office Building is a five-story, 68,000-square-foot Class A facility built in 2010 on the campus of Jersey City Medical Center, a 332-bed community hospital with full inpatient and outpatient services.
The medical center, located on a 15-acre campus overlooking New York Harbor and Liberty State Park, serves as a regional referral and teaching hospital, offering services including cardiology, endocrinology, gastroenterology, oncology, infectious diseases, neurology, pediatrics, geriatric care and pulmonary medicine and critical care. The hospital leases 50 percent of the medical office building, which has no significant lease rollover until 2020.
Bryant Medical Office Building, a high-quality, single-story medical office building built in 1993 and fully renovated in 2006, comprises approximately 22,000 square feet of rentable space. The building is located adjacent to Interstate 30 in Bryant, roughly 10 miles southwest of downtown Little Rock and nine miles northeast of Saline Memorial Hospital, which leases 86 percent of the facility via two leases that expire in 2024 and 2025.