Interra Realty brokered the $2.9-million sale of a 5,891-square-foot DaVita Dialysis Clinic at 816 119th St. in Whiting, IN. The single-tenant net-leased property, completed last year, is in the first year of a 15-year lease and was purchased through a 1031 exchange.
“We continue to see strong demand for net-leased medical facilities, especially those that have long-term leases in place with creditworthy tenants like DaVita,” said Interra’s Colin O’Malley. “It also shows how some owners are using like-kind exchanges to pivot from management-intensive assets, such as an apartment community, to more passive investments that offer steady, predictable returns.”
O’Malley represented the buyer, Talcott Terrace LLC. The seller was Dayton Street Partners, represented by Boulder Group.
“With the need for dialysis services expected to grow in the coming years, centers like this are considered strong investments that are more internet- and recession-resistant than net-leased retail,” O’Malley added.
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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).