The Vara Group at Marcus & Millichap is pleased to present the
sale offering for the NVA Summit Veterinary Referral Center
located in Tacoma, WA. Built in 1999, this 27,199 SF facility
features the most extensive animal related emergency services
in Pierce County. This single tenant medical office is fully leased
to NVA Summit Veterinary Management LLC and is backed by
the largest private owner of freestanding veterinary hospitals
in the United States, National Veterinary Associates Inc. This
newly renewed 10-year, triple-net lease features strong annual
rental increases of 3.5%, providing an appealing return, a hedge
against inflation, and minimal landlord responsibilities. NVA
has invested heavily in the medical buildout of the hospital,
demonstrating their long-term commitment to the site.
NVA Summit sits on a generous 1.57-acre lot and includes
an ancillary parking lot that provides an additional 58 stalls.
The property is located just off I-5, providing great access for
employees and customers alike. Tacoma’s growing population
rate, combined with over 60% of Washington households
owning a pet, positions NVA Summit well for a continuation of
strong profit growth within the veterinary services industry.