Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to acquire the fee simple interest in 5 Inverness Center Parkway (“The Property”), located in the affluent Birmingham, Alabama submarket of Hoover. Built in 2005, the property is a 15,851 SF, three-story office building supported by well-appointed common areas, state of the art conference rooms, a country club-grade gym, podcast studio and luxury finishes. The building is 100 percent occupied by Birmingham based, eQRP Inc. ("The Company"), the number one self-directed 401k company in the nation. The company was founded in 2012 and has amassed a client base of over 2,300 companies. The staff of 20 runs all corporate and operational activity out of the Birmingham HQ. The company will sign a 7-year, NNN lease with 3% escalations, and two (2), three (3)-year options at closing. Recently, the company has begun a $300k building renovation which will include the replacement of all nine HVAC units. Rationale behind the five-year lease is purely precautionary in the event company growth outpaces projections. Revenue increased 20% YoY to $2.9 million in 2022 with an additional 25% increase projected for 2023. The lease will be personally guaranteed by CEO Damion Lupo. Conveniently positioned right off US Hwy 280 in Hoover, Alabama (80,000+ vpd), The Property is located two miles from Grandview Medical Center, a 372-bed hospital that provides comprehensive healthcare services to patients in Birmingham and surrounding communities. The Property is surrounded by medical office, new hotels, senior housing, credit-tenant commercial properties, luxury neighborhood retail centers, and high-end residential subdivision and apartments. Within a five-mile radius of The Property average household incomes exceed $130,000. This opportunity provides investors with stable cash from a tenant in growth mode that is currently investing significantly in their corporate HQ for years to come.