Marcus & Millichap proudly presents the Amsurg & LiveWell Medical Office Building, strategically located in affluent Johnson County, just 1,000 feet from the I-435 exit in Shawnee, Kansas. This investment features a 100% occupied, two-tenant, NNN medical office building with strong tenants in rapidly growing medical sectors. The property is nestled within the WestGlen shopping center, which underwent a multi-million-dollar remodel in 2017, enhancing various offices, retail shops, and restaurants with a 25-year operating history. Within a 1-mile radius, the average household income stands at $123,586.
Situated on a 0.61-acre plot, the building offers 6,772 square feet of gross leasable area (GLA). Amsurg, occupying 70% of the GLA, has been a tenant since the property's construction in 1998. LiveWell, occupying the remaining 30%, signed a new lease in January 2025.
Amsurg is a prominent multibillion-dollar ambulatory surgery company with over 250 locations across the nation. It merged with Envision Healthcare (NYSE: EVHC) in 2016 for nearly $10 billion and was subsequently acquired by KKR (NYSE: KKR) in an all-cash deal in 2018. The U.S. market for ambulatory surgery centers was valued at USD 40.41 billion in 2023, with an anticipated compound annual growth rate (CAGR) of 6.02% from 2024 to 2030.
LiveWell specializes in home-based care, providing services like skilled nursing with approximately 500 employees. The U.S. home healthcare market, valued at $142.9 billion in 2022, is set to continue its robust growth with a projected CAGR of 7.48% from 2023 to 2030.
Lease terms for the building include a triple-net lease for Amsurg (70% of GLA) and a gross lease for LiveWell (30% of GLA), with the landlord being responsible for the roof and structure maintenance.