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Village Medical Park
A mixed-use project comprised of 19 buildings totaling approximately 94,928 square feet. Built in phases between 1995 and 2003. The property combines medical, office and related uses with complementary retail uses within one planned environment. The majority of tenants are medical professionals or healthcare services firms.
Intrinsic Value
Purchase price below replacement cost and above-market capitalization rate.
Property Fundamentals
Desirable Asset Class – Attractive attributes of medical office asset class: recession resistance, projected growth due to an aging population, high tenant retention, general tenant creditworthiness and premium pricing relative to conventional office.
Proximity to Hospital – Located less than two miles from The Regional Medical Center, the county’s third-largest employer, an acute care medical center owned by Orangeburg and Calhoun counties.
Diverse Tenant Roster – 32 tenants, the largest occupying only 8.3% of GLA.
Solid Construction – Brick construction with asphalt shingle roofs minimizes capital expenditures.
Market Fundamentals
Market Growth – Orangeburg is expected to experience sustained growth due, in part, to numerous corporate relocations to the area and the continued expansion of the Charleston market as a key port.