Fresenius - Buffalo, NY MSA
Office
for Sale
| Catylist Listing ID: |
30395189 |
| Property Subtypes: |
Business Park, Medical, Office Building
|
| Building Size (RSF): |
7,500 SF
|
| Gross Land Area: |
96,268 SF
|
| Sale Price: |
$2,400,000 |
| Unit Price: |
$320 PSF |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Building Name: |
Fresenius Medical Care |
| Class of Space: |
Class A |
| Usable Size (USF): |
7,500 SF |
| Sale Terms: |
Undisclosed, Cash to Seller |
| Auction Type: |
Absolute |
| Cap Rate: |
7.19% |
| Average Occupancy Rate: |
100 |
| Last Updated: |
2/26/2021 |
Overview / Comments
|
Hold Thyssen, Inc. is pleased to offer for sale a net-leased dialysis clinic in the Buffalo MSA leased to Fresenius Medical Care. With over 5 years remaining, the lease includes attractive 2% annual rent increases throughout the primary term and option period, and is guaranteed by Fresenius Medical Care Holdings, Inc. an investment grade tenant. Priced at a 7.19% capitalization rate, this offering provides an investor with the opportunity to acquire a quality medical office property leased to a national tenant.
|
Current Tenants
| Tenant Business Name |
Fresenius Medical Care |
| Is Renting? |
Yes |
| SF of Space Occupied |
7,500 SF |
| Current Rent |
$167,333 PSF (Annual) |
| Escalations |
Annual 2% Increases |
| Options |
One 5 year Renewal Option |
| Tenant Notes |
Fresenius Medical Care Holdings, Inc. is a division of Fresenius Medical Care AG & Co. KGAA (NYSE: FMS), the world’s leading provider of dialysis products and services treating more than 339,500 patients in 3,990 clinics. Fresenius Medical Care’s corporate headquarters are in Bad Homburg v.d.H., Germany. The headquarters of North America are in Waltham, Massachusetts and the headquarters of Asia-Pacific are located in Hong Kong. As of May,2019 the Company boasts an investment grade credit rating
of “BBB / Stable” by Standard & Poor’s.
|
Additional Details
| Nearest MSA: |
Buffalo-Cheektowaga |
| County: |
Niagara |
| Taxing Authority: |
Town of Wheatfield, Niagara County, NY |
| Tax ID/APN: |
177.03-1-81.4 |
| Zoning: |
M-1, LIGHT INDUSTRIAL DISTRICT |
| Property Visibility: |
Good |
| Highway Access: |
Located in the Woodlands Corporate Center off of Niagara Falls Blvd the area's primary north/south arterial road |
| Airports: |
Buffalo Niagara International Airport - 15.6 miles |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Typical SF / Floor: |
7,500 SF |
| Year Built: |
2011 |
| Roof Type: |
Flat |
| Construction/Siding: |
Concrete |
| Parking Ratio: |
5.6 (per 1000 SF) |
| Parking Type: |
Surface |
| Total Parking Spaces: |
73 |
| Zoning Description: |
M-1 - Light Industrial Districe |
| Lot Frontage: |
577 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Easements: |
Utilities |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
4,800 |
52,111 |
138,715 |
| Median Age: |
41.78 |
40.97 |
41.64 |
| Households: |
1,957 |
21,891 |
56,344 |
|
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