Fully leased multi-tenant investment property, high 8.7% cap rate, with American Renal Associates, Inc. (ARA) as the anchor tenant. 100% Occupied.
ARA is a leading owner and operator of outpatient kidney dialysis facilities with over 200 locations. ARA dialysis clinic occupies 68% of the property on a NN lease with a corporate guarantee. In the near future, ARA will likely exercise an option to extend the lease to 3/31/30.
The rest of the property is occupied by tenants Meyer Laboratory and LH Concessions, on full service leases (tenants reimburse LL for taxes).
Tenants pay below-market weighted average rent of $9.87/SF. Renovated in 2021 and strategically positioned to benefit from the high traffic volume of over 60,000 views per day and a population of 395,000 within a five-mile radius.
At $105/SF, asking price is well below replacement cost.
Contact troy@goldengroupinc.com for more information.