Fresenius Medical Care – St Johns, MI

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Fresenius Medical Care – St Johns, MI

975 E Townsend Rd St Johns MI Clinton County

Sales Price: $3,097,420

Cap Rate: 5.00%

Lease Expiration: 4/30/2029

Contact Person(s): Maxwell Lippitt
Daniel Kukes
Jason Greenspan

Description:

ESSENTIAL TENANT:

  • Fresenius Medical Care (NYSE: FMS) is the world’s largest dialysis provider with 4,000 global locations, an annual revenue over $10.41B and 120,000+ employees.

CORPORATE GUARANTY TO FRESENIUS MEDICAL CARE HOLDINGS INC

2014 CONSTRUCTION–BUILD-TO-SUIT FOR FRESENIUS

HIGH PERFORMING CLINIC:

  • Location is open six days a week and has 18 dialysis stations

NEW LEASE RENEWAL:

  • In Fall of 2021, tenant signed a new 5-year renewal (beginning in 2024) with annual 1.00% rent increases.

NN LEASE:

  • Landlord only responsible for Roof and Parking Lot replacement. Tenant handles all maintenance and repair.

STRONG COMMERCIAL LOCATION:

  • Subject property is directly adjacent to a well-performing Walgreens and is surrounded by national retailers such as Walmart, Kroger, Tractor Supply Co, Applebee’s, Dunham’s, Wendy’s, Arby’s, McDonald’s, etc.

Building Size: 8,897 SF

Lot Size: 2.89 AC

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 3,222 10,300 12,614
Avg. HH Income: $68,562 $75,865 $78,686

LANDMARK INVESTMENT SALES – Licensed Real Estate Brokers. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs.