NNN Office Properties
This is a selection of some of the most attractive Net Leased Office Properties currently available. If you would like more information about any of these properties, please call John Bremner, Bremner Real Estate - 415-234-6093.
Principals Only, Please.
1) Pace Care Medical Center - Warren MI: $1,720,000, 7.0% Cap Rate, 10 Year NNN Lease. The Pace Care Center (a subsidiary of the Henry Ford Health System) signed a new 10 year NNN lease in March, with increases every 5 years. The Henry Ford Health System guaranteed the tenant improvements and hard costs of nearly $600,000. Site has good visibility, with a traffic count of 30,000 VPD, and a population of 320,000 within a 5 mile radius. Offered at $1,720,000 with a 7.0% cap rate.
2) DaVita Dialysis - Fort Wayne IN: $1,950,000, 7.6% Cap Rate, 12 Year NNN Lease. Two tenant building - DaVita, and Indiana Bureau of Motor Vehicles (BMV) - with 12 Year NNN lease. DaVita has just invested $470,000+ in building improvements, and has requested a right of refusal if the BMV were to vacate their space. Strong location with over 150,000 within 5 mile radius. DaVita, a credit rated tenant, is guaranteeing it's lease. Offered at $1,950,000 with a 7.6% cap rate.
3) Social Security Administration - Middletown OH: $2,136,802, 7.8% Cap Rate, 6 Year GSA Lease. The SSA is operating under a 10 year primary lease term, 10 years firm, with six (6) years remaining of firm term. This lease is fully guaranteed by the US Federal Government (S&P rating of AA+) which qualifies as investment grade. This is a highly visible location at the intersection of I-75 and US Route 122. Offered at $2,136,802 at a 7.8% cap rate.
4) Resolute Pain Solutions - Port Saint Lucie FL: $2,200,000, 6.6% Cap Rate, 7 Year NNN Lease. Resolute Pain Solutions operates 29 locations in four states. This property is situated along a dense retail corridor with national retail including Wendy's, Staples, Walmart, Target, etc. Strong demographics, with over 110,000 within a 5 mile radius. 7 years remaining on 10 year lease, with 9% rent increase on 1/1/2018. Offered at $2,200,000 with a 6.6% cap rate.
5) Fresenius Dialysis - Palmetto GA: $2,658,000, 7.0% Cap Rate, 7 Year NNN Lease. This property was built to suit for Fresenius in 2007, with a new 15 year NNN Lease, with 2.25% annual increases. There are currently 7 years remaining, with three 5-yr options. Fresenius is the largest dialysis provider in the US. Offered at $2,658,000 with a 7.0% cap rate.
6) Liberty Energy - Keokuk IA: $2,873,250, 7.25% Cap Rate, 10 Year Absolute NNN Lease. Liberty Energy Corporation is one of the country's largest natural gas distributors, serving over 1400 communities in 8 states. This location is used as a field office to assist local customers and local service calls. 10 years remaining on absolute NNN lease with two 5-yr options. Offered at $2,873,250 with a 7.25% cap rate.
7) Teledyne - Daytona Beach FL: $3,100,000, 7.0% Cap Rate, 10 Year Corporate NNN Lease. The tenant, Teledyne Oil & Gas, is a division of Teledyne, a public company (NYSE: TDY) which has annual revenues of $2.3B. Teledyne occupies a neighboring 10 acre parcel since 2006, and the subject newly built property is vital to their local operations. The company has entered into a new 10 year NNN lease with 2.5% annual increases. Offered at $3,100,000 with a 7.0% cap rate.
8) Concentra Urgent Care - North Charleston SC: $3,200,000, 7.2% Cap Rate, 7 Year NNN Lease. Net leased investment opportunity comprised of a Concentra Urgent Care facility, located on the best retail corner in the Charleston SC market. 7 years NNN lease remaining with 2% annual increases. Offered at $3,200,000 with a 7.2% cap rate.
9) Priority Radiology - New Albany IN: $3,200,000, 6.6% Cap Rate, 10 Year Corporate NNN Lease. Priority Radiology is a joint venture between Inventure Capital and Floyd Memorial Hospital, which guarantee the 10 year NNN loan. Priority Radiology sees over 30,000 patients a year at this location, and spent over $1,000,000 in 2015 with upgrades to the building infrastructure. Offered at $3,200,000 with a 6.6% cap rate.
10) Nationwide Children's Hospital - Columbus OH: $4,782,243, 7.0% Cap Rate, 6 Year NNN Lease. The property is a 31,293/SF single story office property leased to Nationwide Children's Hospital through July, 2022. The property was built in 1981 and renovated in 2012. Nationwide Children's has occupied the property since 2002 and has expanded 9 times over the years to occupy 100% of the property. The tenant, Nationwide Children's Hospital, is ranked in America's Best Children's Hospitals, and is rated Aa2 by Moody's and AA by Fitch. Offered at $4,782,243 at a 7.0% cap rate.
Principals Only, Please. For more information, please call John Bremner, 415-234-6093