April 12, 2018
The Boulder Group has completed the sale of a single-tenant net leased Fresenius Medical Care property at 9924 So. Vincennes Ave. in Chicago’s Washington Heights for $4,377,898. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based real estate development company. The buyer was a West Coast-based real estate investment firm.
Fresenius’ newly signed lease is for 15 years, and features 10% rental escalations every five years throughout the primary term and three five-year renewal option periods. The investment grade-rated tenant provides renal services to hundreds of thousands of people through more than 2,200 dialysis facilities nationwide.
“Medical-related properties, featuring long-term leases with multiple rental escalations, continue to be highly sought after among the investor community, as they provide an inflationary hedge,” said Blankstein.
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