KB Exchange Trust is pleased to offer this Class-A, multi-tenant Medical Office Building (MOB) structured as a Delaware Statutory Trust (DST). Built in 2017, Centennial Hills Medical Center is a triple-net leased property located in Las Vegas, Nevada, and consists of approximately 57,156 rentable square feet. This property is strategically located in Northwestern Las Vegas in proximity to Centennial Hills Hospital, and in a trade area with approximately 267,000 residents. The $76,446 median household income, within a five-mile radius, is 11% above the national average. The Centennial Hills Medical Center is 100% leased to seven tenants with an average remaining lease term of roughly 7.5 years. The three tenants comprising the largest Percentage of Gross Rent (PGR) at the property are Abby Connect, Health Care Partners, and Thomas Dermatology.
Centennial Hills Medical Center is located in the Montecito Town Center master planned community in Northwest Las Vegas. This is an affluent neighborhood with incredibly low crime, making it one of the safest areas of the city. Las Vegas has experienced above average growth over the past decade as people have left higher-priced areas, particularly Southern California. Industry professionals state this shift has accelerated during the pandemic as exiled office staffers have come to Southern Nevada to work remotely and buy bigger, more affordable homes.
The property is less than ten minutes away from two major freeways, I-215 and I-95. It is 15 miles Northwest of downtown Las Vegas and 8 miles Northeast of Summerlin, another affluent suburb.
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