Fresenius Medical Care

Back to your search results

Fresenius Medical Care

2405 Ludington St Escanaba MI Delta County

Sales Price: $2,359,540

Cap Rate: 5.65%

Lease Expiration: 3/5/2035

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

Description:

CORPORATE GUARANTY

  • Subject lease is guaranteed by Fresenius Medical Care Holdings Inc. (NYSE: FMS), the world’s largest dialysis provider with over 4,000 locations and $20.5 Billion in revenue

NEW CONSTRUCTION 

  • The subject property has been completely renovated and repurposed including a new roof & new parking lot. In addition to the developer’s construction, Fresenius has a significant investment in the space.

LONG TERM LOCAL OPERATING HISTORY/NEW RE-LO

  • Fresenius has been operating in the Escanaba Market for 15+ years and just recently relocated to expand operations to a larger prototypical floor plate.

ANNUAL RENT INCREASES

  • $0.60/SF annual increases.

LACK OF FRESENIUS COMPETITION

  • The closest other Fresenius is 50 miles away, there are only 3 Fresenius locations in the Michigan Upper Peninsula

STRONG RETAIL CORRIDOR

  • Fresenius sits within the Western Upper Peninsula’s main commercial corridor surrounded by tenants such as Walmart, Meijer, ALDI, Marshalls, Hobby Lobby, Starbucks, Aspen Dental, Walgreens, O’Reilly’s, Advance Auto Parts, etc.

Building Size: 9,000 SF

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 5,860 12,964 17,194
Avg. HH Income: $47,262 $57,001 $63,712

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.