Investment Overview

Marcus & Millichap is pleased to present 325 Charles H. Dimmock Parkway, Suite 100, in Colonial Heights, Virginia located in the TriCities Submarket with excellent access and visibility located on a signalized corner of Charles H. Dimmock Parkway and Jennick Drive with a traffic counts of 12,586 vehicles per day. The property benefits from robust, dense demographics; the population within five miles of the site is over 97,691 with nearly 34,473 households and an average household income of over $70,334 within five miles. The VCU Health Orthopaedics occupies a 21,354-square-foot condominium unit and operates under a triple-net lease structure, with 3% annual rental increases and automatic renewal options. There are three, three-year renewal options remaining. VCU Health is an experienced regional operator with 72 locations across Virginia. As a sign of confidence in VCU Health, credit rating agencies continued to award strong ratings. This fall, Moody's awarded the health system a rating of Aa3. Standard & Poor's gave it an AA-. Both ratings are considered high and signify VCU Health as a low-risk investment. VCU Medical Center has been recognized as the No. 1 hospital in the Richmond metro area and the No. 2 hospital in the commonwealth by U.S. News & World Report in its 2023-2024 Best Hospitals rankings. Virginia Commonwealth University is a major urban public research university with national and international rankings in sponsored research. Located in downtown Richmond, VCU enrolls more than 30,000 students in 233 degree and certificate programs in the arts, sciences, and humanities. Twenty-two of the programs are unique in Virginia, many of them crossing the disciplines of VCU’s 11 schools and three colleges. The VCU Health brand represents the VCU health sciences academic programs, the VCU Massey Cancer Center and the VCU Health System, which comprises VCU Medical Center (the only academic medical center in the region), Community Memorial Hospital, Children’s Hospital of Richmond at VCU, and MCV Physicians. The clinical enterprise includes a collaboration with Sheltering Arms Institute for physical rehabilitation services.