Single Credit Tenant Medical Investment - San Diego, CA
Listing was updated at: 07/16/2019
Property Overview
Price/Rent PSF $ 6,995,000.00
Asset Type Investment
Trade Type Sale
SQ. FT. Available 22,689
Date Available 07/16/2019
Parking 49 Spaces
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Description

TENANT Biomat USA Inc. A Delaware Corporation LEASE TYPE Single Tenant Gross Lease (Landlord Pays Maintenance (Structural and Common Areas), Insurance, Taxes) Tenant Pays Utilities and Premises Maintenance LEASE COMMENCE - EXPIRES Lease Commenced April 1, 2008 – Two, 5-year Options to Extend have been exercised. Current Term Expires March 31, 2023. REMAINING OPTIONS Two, 5-year extensions left until 2033 PROJECTED YEAR 1 NOI $372,461 ANNUAL INCREASES 3% ASKING PRICE $ 6,995,000 AVERAGE CAP 5.59% - Over the Remaining Lease Term $2.7 MILLION IN MISSION CRITICAL IMPROVEMENTS COMPLETED BY TENANT IN 2008 LIMITED MEDICAL OFFICE AVAILABILITY IN THE AREA AND SIGNIFICANT BARRIERS TO ENTRY AND/OR RELOCATION SIGNIFICANT GROWTH AND DEMAND FOR PLASMA CENTERS WITH 64% OF PLASMA BEING SOURCED IN THE USA SIGNIFICANTLY BELOW MARKET RENT

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