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INVESTMENT HIGHLIGHTS
THE ASSET: Eastview Place consists of three (3), well-maintained attractive two-story medical and professional office buildings. 2416 Airport Road contains 10,980 rentable square feet and is leased to two tenants, Gifford Health Care and Montshire Endodontics, and has one 2,600 square foot vacant unit. 58 E View Lane contains 11,712 rentable square feet and is leased to three tenants, University of Vermont Health Network (formerly Fletcher Allen Healthcare), HearingLife (formerly Audiology Services Company), and USA Risk Group of Vermont, and has one (1) 3,072 square foot vacant unit. 82 E View Lane contains 12,000 rentable square feet and is leased to two tenants, Gifford Medical Center, and Central Vermont Medical Center. Several of the in-place leases call for scheduled rent increases in the base term and renewal options providing a steady increase in income and an attractive hedge against inflation.
UPSIDE POTENTIAL: Eastview Place is currently 83.65% occupied and offers significant upside through the lease-up of the 5,672 square feet of vacant space. The vacant space consists of two units, a 3,072 square foot unit (Suites 58 A & B) and a 2,600 square foot unit (Suite 2418 A). The highly desirable space is ideally suited for medical or professional uses.
STRATEGIC LOCATION: The Property benefits from its central location just off VT Route 62, with close and convenient access to US Route 302 and Interstate 89. The Property is across the street from the Edward F Knapp State Airport. The Property is strategically positioned in between downtown Montpellier and downtown Barre, both approximately 5-miles away. The Property also offers convenient access to northern Vermont’s other cities including Burlington and St Johnsbury, as well as Lebanon, NH at the confluence of Interstates 89 and 91.
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