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Fresenius Medical Care, Columbia, SC

Fresenius Medical Care

Columbia, SC

Price $4,428,000
Cap Rate 5.50%
NOI $243,548
Lease Term 15 Years, with 12 Years Remaining
Lease Type Net, with Tenant Responsible for Taxes, Insurance, Utilities, and Maintenance, Excluding Roof and Structure
Rental Increases 2% Rental Increases Every Year
Year Built 2014
Building Size 9,710 SF
Lot Size 1.52 Acres (66,211 SF)
Status Available
Lead Broker Information Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

LONG-TERM NET LEASE TO FRESENIUS MEDICAL CARE
» Long-term lease with 12 years remaining on initial term plus three five-year option periods
» Rare 2% annual rent increases, providing an excellent hedge against inflation
» Minimal landlord management, providing an ideal investment opportunity for an out-of-area investor

INVESTMENT GRADE TENANT WITH STRONG FINANCIALS
» Fresenius Medical Care is the world’s leading provider of products and services for people with chronic kidney failure
» Lease guaranteed by Fresenius Care Holdings, with a investment grade credit ratings of “BBB-” from Standard & Poor’s and “Baa3” from Moody’s
» Fresenius Medical Care has an annual revenue of $21.9 billion and is listed on the Frankfurt Stock Exchange (“FME”) and the New York Stock Exchange (“FMS”)

HIGH-TRAFFIC LOCATION IN DENSE MEDICAL CORRIDOR
» Strategically located within Highland Center, a medical park situated at the signalized intersection of Farrow Road and Hard Scrabble Road, with excellent visibility and access to 49,100 vehicles per day
» Farrow Road provides immediate access to two busy highways: Interstate 77 (86,800 AADT) and Highway 277 (53,400 AADT)
» Located less than a mile from Providence Health Northeast, a 74-bed hospital
» Close proximity to several major medical companies, including the corporate headquarters of Palmetto GBC, one of the nation’s largest providers of high volume claims and transaction processing for Medicare, Medicaid, and other healthcare providers

CENTRAL LOCATION WITH ROBUST DEMOGRAPHICS
» Convenient access to downtown Columbia, major schools, large employment centers, and new developments
» Near Killian’s Crossing, a 400-acre retail, residential, and commercial development currently under construction
» Located in a densely populated area, with 111,731 residents living within a five-mile radius

Click Here to Download Offering Memorandum


Property Description

The property is strategically located within Highland Center, a medical park situated at the signalized intersection of Farrow Road and Hard Scrabble Road, with excellent visibility and access to 49,100 vehicles per day. Farrow Road provides immediate access to two busy highways: Interstate 77 (86,800 AADT) and Highway 277 (53,400 AADT). The property is conveniently located in a prominent medical area. In addition to the current and future medical tenants located in Highland Center, the property is less than a mile from Providence Health Northeast, a 74-bed full-service hospital that specializes in neurosurgery, orthopedic care, emergency services, and rehabilitation and surgery. Providence’s orthopedic services have been ranked as one of the nation’s best, and the hospital is recognized as a Blue
Distinction honoree by Blue Cross Blue Shield of South Carolina. Additionally, several major medical companies are located nearby, including the corporate headquarters of Palmetto GBC, one of the nation’s largest providers of high volume claims and transaction processing for Medicare, Medicaid, and other healthcare providers.

The property is centrally located less than ten miles from downtown Columbia and is close to major schools, employment centers, and new developments. The property is near a number of campuses for prominent universities, including Webster University, Midlands Technical College, and Clemson University, among others. Also located close to the property are many business and industrial parks that serve as notable employment centers in the region. Several new developments are also underway near the property, including the three-lane widening of Hard Scrabble Road and the construction of Killian’s Crossing, a 400-acre retail, residential, and commercial development. Additionally, the property is located in a densely populated area, with 111,731 residents living within a five-mile radius.

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