November 7, 2019
A single-tenant, 21,000-square-foot dialysis clinic in Orange, CA, fully occupied on an absolute, triple-net lease basis by Fresenius Medical Care, has traded hands. The facility at 1809 West Chapman Ave. was sold for $8.8 million by Orange County-based Adray Plaza, LLC.
The unnamed buyer, a SoCal-based family trust, which was in a 1031 exchange, was represented by Graham & Associates’ Matthew Graham. NKF’s Glenn Rudy and Rob Ippolito represented the seller.
Rudy says, “This asset is adjacent to the Platinum Triangle of Anaheim, which is the most active area per capita for residential/mixed use development in all of Orange County, and subsequently has been attractive to capital investment.”
Originally built in 1988 with a complete renovation in 2016 to meet Fresenius’ specifications, the asset is situated on 1.63 acres. Fresenius is the leading dialysis clinic in the U.S., and this clinic will serve as one of its flagship SoCal locations.
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