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INVESTMENT HIGHLIGHTS
DOMINANT MEDICAL CORRIDOR – The Property is located in a dense medical corridor in close proximity to University of Mary Washington Hospital, one of the top employers in the Fredericksburg area.
LONG-TERM LEASE – The original 15-year lease has more than six (6) years of primary lease term remaining with two (2), five (5) year renewal options.
NNN EXPENSE STRUCTURE – Tenant pays for all CAM, Taxes, Insurance, and all HVAC and paving maintenance. Tenant reimburses Landlord on an amortized basis for capital repairs to the roof, paving, and HVAC. Landlord pays for both maintenance and capital repairs to the building structure (2.0% management fee).
BUILD-TO-SUIT – The building is ground up construction with custom layout for DaVita's full range of renal care services, including 20 dialysis stations.
RENT GROWTH – There is a ten percent (10%) rental increase in 2025 and two (2), five (5) year renewal options at market.
LEADING OPERATOR – DaVita is one of the largest kidney care companies in the world with a network of over 2,800 outpatient dialysis clinics in 46 states serving over 200,000 patients.
STRONG GUARANTEE – For 2022, DaVita, Inc. generated $12.14 billion in revenue and over $692 million in net income. It holds a Ba2 credit rating with Moody’s and a BB rating with S&P.
GROWING INDUSTRY – There are over 562,000 ESRD dialysis patients in the U.S. as of 2020, and the rate of the disease's occurrence has grown at a compound annual growth rate of 3.0% from 2010 to 2020.
DENSE DEMOGRAPHICS – Located midway between the Nation's capital and the capital of Virginia, the Fredericksburg Region has a population in excess of 350,000 residents with an average household income exceeding $100,000.
