Fresenius Property For Sale Date November 29, 2016
The Boulder Group is pleased to exclusively market a single tenant net leased Fresenius property for sale located in Chicago, IL. The property is positioned near a heavily trafficked signalized intersection in a dense in-fill area. The newly signed Fresenius lease is for 15 years and features rare 2% annual rental escalations throughout the primary term and three 5-year renewal option periods. Unlike many other states, Fresenius was required to obtain a Certificate of Need from the State of Illinois in order to open and operate this facility. A Certificate of Need adds a significant barrier to entry.
The Fresenius property for sale is conveniently located just off the trafficked intersection of Grand Avenue and Division Street on the Northwest Side of Chicago in the Humboldt Park neighborhood. The intersection experiences traffic counts in excess of 32,000 vehicles per day. The building has great visibility along Grand Avenue, a popular thoroughfare in Chicago. The surrounding area is densely concentrated with commercial buildings and residential homes providing for significant barriers to entry. There are over 58,000 people living within a one mile radius of the property. The property is surrounded by numerous national retailers including CVS Pharmacy, Dunkin’ Donuts and Auto Zone.
Fresenius is the dominant provider of kidney dialysis and renal care products and is a publicly traded company (NYSE: FMS) with a market capitalization in excess of $38 billion. Fresenius is an investment grade rated company with a Standard & Poor’s rating of BBB-.
- Located in the city of Chicago
- Fresenius is an investment grade rated company (S&P: BBB-)
- Fresenius is publicly traded on the New York Stock Exchange (FMS) with a market capitalization in excess of $38 billion
- New Construction
- Long term 15 year lease
- Minimal landlord responsibilities
- 2% annual rental escalations throughout the primary term
- Three 5-year renewal option periods with annual rental escalations
- Fresenius obtain a Certificate of Need from the State in order to open and operate this facility
- Over 58,000 people living within a one mile radius of the property
- Significant barriers to entry
- Positioned near a trafficked signalized intersection in a dense in-fill area
- Retailers located in the immediate surrounding trade area include CVS Pharmacy, AutoZone and Dunkin Donuts