DaVita | Long Term Lease w/ 10% Increases

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Available $3,940,000 - Office, Retail - Single Tenant, Healthcare
Cap Rate:  6.25%Size:  2.08 AcresTerm:  10 Print

 Investment Offering & Highlights

  • New 10 year net lease with 10% rent increases every 5 years with the next increase in 2022 (3 Years) and another in 2027 (8 Years)
  • Established location for DaVita with a newly exercised 10 year extension showing the tenant’s commitment to the facility
  • The 135-acre Greer Medical Campus is located less than five minutes away
  • DaVita, Inc. (NYSE:DVA) is one of the fastest growing companies on the Fortune 200 with a total stockholder’s equity of $3.70 billion and 2018 revenues of $11.41 billion
  • Greer is home to BMW’s largest manufacturing plant in the world – a 5.5 million square foot facility representing a $7.8 billion investment from the company
  • Located adjacent to the Mitsubishi Polyester Film manufacturing plant, the largest polyester film plant in the United States
  • DaVita treats 42% of all dialysis patients in the United States
  • Strong demographics with over 112,700 residents within five miles and an average household income of $90,143 within one mile
  • Warren Buffett’s Berkshire Hathaway owns a 23% stake in DaVita, it’s third largest holding by ownership percentage
  • Greer ranked 3rd among the most enterprise-friendly cities in South Carolina according to a survey by Palmetto Promise Institute
  • Located in the center of Greenville and Spartanburg, the two major cities in Upstate South Carolina, with easy access to Greenville-Spartanburg International Airport, the second largest airport in South Carolina
  • Greer’s central location on I-85, Inland port and progressive economic philosophy have attracted a world-class business community

Property Description

Cushman & Wakefield Net Lease Group is pleased to offer a 10,180± sq. ft. medical office building, with ample on-site parking, located in Greer, South Carolina (Greenville – Spartanburg MSA). The property is leased to TOTAL RENAL CARE, Inc., and guaranteed by DAVITA, INC.,  for 10 years until August 15th, 2029 with an annual rent of $246,260 which increases 10% every 5 years throughout the primary term and one five-year option period. The lease is net with the tenant responsible for taxes, insurance and maintenance of the premises, including HVAC and minor repair and patching of the parking area. The landlord is responsible for repairs and replacements to the exterior and structural portions of the premises, including the roof, structure, parking area and HVAC (replacement only).

 

Please use the following link to access the full offering memorandum for the DaVita Kidney Care located in Greer, SC. https://www.crexi.com/properties/223486/south-carolina-davita-long-term-net-lease-w-increase

Property Location