March 5, 2021 – Chris King of Horvath & Tremblay has successfully completed the sale of Physicians Care in Chattanooga, Tennessee. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $450,000.
Physicians Care is located at 4747 Highway 58 in Chattanooga, Tennessee. The property consists of a 1,755 square foot, stand-alone building on a 0.93-acre lot. The Physicians Care lease term has three and a half years remaining and consecutive five-year renewal options. The lease also calls for a 1.25% annual rent increase throughout the base term and renewal options. The tenant is part of the Urgent Team family of urgent care centers, one of the largest independent operators of urgent care centers in the Southeast with 66 locations throughout Tennessee, Arkansas, Alabama, Georgia and Mississippi. The lease is guaranteed by Physicians Care, Inc., and Urgent Team Management, LLC. The stand-alone Property is strategically located along the primary retail corridor in a suburban-residential section of Chattanooga. The Property offers excellent visibility, two points of access and ample parking for area residents and passing motorists on heavily travelled Highway 58.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.