This Property consists of a 30,844 square foot, single-story hospital (“Hospital”) and an attached 45,526 square foot, three-story medical office building (“MOB”). The Hospital will be master-leased, on a triple-net basis, to Oceans Healthcare for an initial term of 20 years. Oceans Healthcare is a nationally recognized provider of behavioral health services. Oceans will operate the Hospital as a 40-bed, inpatient behavioral hospital.
Oceans Healthcare will also lease 5,292 square feet in the MOB for an initial term of 20 years for the use of outpatient therapy. Two additional tenants that will move in post-closing and occupy 20,301 square feet for Capital Area Human Services and Open Health. The building is currently 80.8 percent pre-leased.
The property is located in North Baton Rouge within designated Opportunity and Enterprise Zones, and in the northwest quadrant of Howell Place, a 200-acre plot of land that is being developed into a mixed-use park located ten minutes north of downtown Baton Rouge.