Net Lease N Illinois

Marcus & Millichap arranges $3.7M sale of dialysis center

Marcus & Millichap arranges $3.7M sale of dialysis center,ph1

Marcus & Millichap facilitated the sale of a 9,703-square-foot, net-leased DaVita Dialysis Center, located in South Holland, Illinois. The asset sold in a 1031-exchange to an out-of-state buyer for $3,707,000. Valerie Cook, senior associate, and senior vice presidents–investment Austin Weisenbeck and Sean R. Sharko of the firm’s Chicago Oak Brook office, represented the seller in their 12th DaVita Dialysis sale of the last 24 months.

“Dialysis centers with stable tenants are sought after investments because of their attractive cap rates, corporate-backed leases and limited landlord responsibilities,” said Cook. “This particular center had new ground-up construction and a long-term commitment to the location.”

Located at 16110 LaSalle Street in South Holland, the state-of-the-art facility was completed in the fall of 2016 and is operating under a 15-year, double-net lease. The corporate lease structure offers 10 percent rental increases every five years and is fully guaranteed by DaVita Incorporated, one of the nation’s largest and most innovative healthcare companies.