 |
| Fesenius Medical Care dialysis facility, 450 South Gilbert Road, Phoenix, AZ |
The dialysis
facility is located at 450 South Gilbert Road in Phoenix, Arizona. An
individual 1031 exchange buyer based in New Jersey purchased the asset for $9.5
million, reflecting a 5.01 percent cap rate.
The buyer was
represented by Jason Maier of Stan Johnson Company. The seller was a
Southlake, Texas-based developer.
“The buyer was putting together a portfolio and was seeking
diversification,” said Maier, Senior Director in
Stan Johnson Company’s New York office.
“Arizona is a
tremendous growth market with a significant amount of medical office
development. And while there are some great operators in the medical space,
very few have investment grade credit.
Jason Maier
"We were able to justify the compressed cap rate
due to the strong lease guarantee combined with the property’s new construction
and overall quality of the real estate.”
The build-to-suit facility was constructed on 2.01 acres in
2019 and is in close proximity to three major hospitals including Mercy Gilbert
Medical Center. The asset features a long-term net lease with annual increases.
CONTACT:
David
Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
No comments:
Post a Comment