1541 Florida Ave
Modesto, CA 95350

The McHenry Medical Building is a ±54,810 rentable square foot medical office building located in Modesto, California on the Doctors Medical Center campus. The Property is currently 100% leased to a variety of medical tenants, most notably the anchor tenant First Choice Physician Partners (“FCPP”), a California non-profit medical Foundation subsidiary of Tenet California with over 65 physicians representing 17 specialties serving California’s Central Valley, Central Coast, Orange County and Coachella Valley. FCPP currently leases 73.4% of the Property and recently renewed its lease for a new 12-year, 8-month term. The Property was constructed in 1990 and was recently renovated in 2016-2017 with improvements made by the current owners. Over $823,000 in capital has been injected into the Property for common area finish upgrades, mechanical systems, a new roof, exterior and interior signage – including a new monument sign, elevator modernization, fire panel, HVAC RTU and access controls, and landscaping. The recent capital improvements have attracted excellent new tenants with new lease terms that recently commenced and an average remaining lease term of 9.6 years. The Property is located on the northeast corner of the campus of Doctors Medical Center at the intersection of West Granger Avenue and Florida Avenue. The Property is subject to a ground lease that expires January 31, 2050, but has four additional extension option terms of 10 years each, providing a full extended term through January 2090. The Property has 157 parking spaces on-site, and additional paid parking is available for patients and physicians in the adjacent campus parking garage.