Advanced Surgery Center of Central Iowa- West Des Moines, IA

Long-term NNN Lease With Built-In Hedge Against Inflation – The tenant operates under a NNN lease with minimal landlord responsibilities, providing investors with a stable, passive income stream. Current term remaining is just under 10 years, with two 5-year renewal options and CPI-based rent increases every other year.
Defensive Healthcare Asset Class – Healthcare real estate remains highly attractive due to its resilience during economic downturns and consistent demand for essential services. Ambulatory surgery centers (ASCs) are a particularly strong subsector, driven by ongoing trends toward outpatient care, cost efficiency, and an aging population.
Limited Competition Due to Certificate of Need (CON) – Iowa is a Certificate of Need (CON) state for surgery centers. This regulatory structure restricts new competition by requiring state approval to demonstrate market need. As a result, tenants with existing CONs benefit from reduced competitive risk and enhanced tenant stickiness, given the cost and complexity of obtaining such approval.
Surgical Services With Tenant Investment – The Advanced Surgery Center of Central Iowa, located in West Des Moines, is a specialized outpatient surgical facility delivering high-quality, patient-centered care in a modern, non-hospital setting. Since its full renovation in 2018, the center has offered services including ENT, total joint replacement, sports medicine, and trauma care. The tenant’s significant capital investment and continued commitment to this location underscore its strategic value within the Des Moines metro healthcare landscape.

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Adam Marek