Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Net Leased Dialysis Center Trades in Washington Heights
The Boulder Group has completed the sale of a single-tenant net leased Fresenius Medical Care property at 9924 So. Vincennes Ave. in Chicago’s Washington Heights for $4,377,898. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based real estate development company. The buyer was a West Coast-based real estate investment firm.
Fresenius’ newly signed lease is for 15 years, and features 10% rental escalations every five years throughout the primary term and three five-year renewal option periods. The investment grade-rated tenant provides renal services to hundreds of thousands of people through more than 2,200 dialysis facilities nationwide.
“Medical-related properties, featuring long-term leases with multiple rental escalations, continue to be highly sought after among the investor community, as they provide an inflationary hedge,” said Blankstein.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
Get Chicago News in 150 Words