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Single-Tenant Office Medical

Fresenius Medical Care

1416 Centinela Ave, Inglewood, CA 90302

Listing Price: $2,644,174

Cap Rate
5.75%
Tenant Name
Fresenius Medical Care
Years Remaining On Lease
2.2
Guarantor
Subsidiary of a Corporation
Rentable SF
7,000
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$21.72

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire the fee simple interest in the land and building of a single-tenant Fresenius dialysis clinic located in Inglewood, California. The tenant recently signed a new three-year extension with two (five-year) options to extend the lease at fair-market-value. The lease features rare three percent annual increases through the main term and a fair market value rental escalation at the beginning of each option period for the first year with three percent annual increase thereafter. The property has been operated as a dialysis clinic for over 37 years. The current tenant Fresenius Medical Care took over the original clinics’ operation RAI Care Centers of Southern California II, LLC in 2012 when Fresenius purchased the parent company Renal Care Advantage, Inc. for over $1.7 Billion. The lease is guaranteed by RAI Care Centers of Southern California II, LLC which is a subsidiary company of Fresenius Medical Care which operates more than 4,110 dialysis clinics around the globe, making them the world’s largest provider of products and services for individuals with chronic kidney disease. The property is located on the highly traveled Centinela Avenue with over 31,600 cars per day. Given the centralized location the property is four minutes from the 405 Freeway, 10 minutes from Westfield Culver City and 10 minutes from SoFi Stadium which receives over 4.9 million visitors a year and is home to Los Angeles’s premier NFL team the LA RAMS. Also, surrounding the site in a short three-minute drive radius are major retailers such as two Ralphs, two Starbucks, CVS, ROSS, Bath & Body Works, Smart & Final, Dollar Tree, Chipotle, Panda, Wells Fargo and many more (see page 10). As an essential medical use, the site and tenant benefit from being in an extremely dense demographic area with over 857,000 people in a five-mile radius an average house-hold income of over $96,000.

Investment Highlights

  • Recently Renewed Lease at Healthy Rent | Rare Three Percent Annual Increases |Excellent Inflation Hedge
  • Absolute NNN Fee Simple (Ownership in Land and Building) | No Landlord Responsibilities | Essential Business
  • 37 Year Dialysis Operating History |Tenant Parent Company Fresenius Medical Care (S&P: BBB)
  • Excellent Visibility and Access | Centrally Located on Major Arterial with Over 31,000 Cars Per Day
  • Dense Infill Location | Over 850,000 People in Five-Mile Radius with Average Household Income over $96,000

Exclusively Listed By

Financing By

Single-Tenant Office Medical

Fresenius Medical Care

Listing Price: $2,644,174

Cap Rate
5.75%
Tenant Name
Fresenius Medical Care
Years Remaining On Lease
2.2
Guarantor
Subsidiary of a Corporation
Rentable SF
7,000
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$21.72

Investment Highlights

  • Recently Renewed Lease at Healthy Rent | Rare Three Percent Annual Increases |Excellent Inflation Hedge
  • Absolute NNN Fee Simple (Ownership in Land and Building) | No Landlord Responsibilities | Essential Business
  • 37 Year Dialysis Operating History |Tenant Parent Company Fresenius Medical Care (S&P: BBB)
  • Excellent Visibility and Access | Centrally Located on Major Arterial with Over 31,000 Cars Per Day
  • Dense Infill Location | Over 850,000 People in Five-Mile Radius with Average Household Income over $96,000

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire the fee simple interest in the land and building of a single-tenant Fresenius dialysis clinic located in Inglewood, California. The tenant recently signed a new three-year extension with two (five-year) options to extend the lease at fair-market-value. The lease features rare three percent annual increases through the main term and a fair market value rental escalation at the beginning of each option period for the first year with three percent annual increase thereafter. The property has been operated as a dialysis clinic for over 37 years. The current tenant Fresenius Medical Care took over the original clinics’ operation RAI Care Centers of Southern California II, LLC in 2012 when Fresenius purchased the parent company Renal Care Advantage, Inc. for over $1.7 Billion. The lease is guaranteed by RAI Care Centers of Southern California II, LLC which is a subsidiary company of Fresenius Medical Care which operates more than 4,110 dialysis clinics around the globe, making them the world’s largest provider of products and services for individuals with chronic kidney disease. The property is located on the highly traveled Centinela Avenue with over 31,600 cars per day. Given the centralized location the property is four minutes from the 405 Freeway, 10 minutes from Westfield Culver City and 10 minutes from SoFi Stadium which receives over 4.9 million visitors a year and is home to Los Angeles’s premier NFL team the LA RAMS. Also, surrounding the site in a short three-minute drive radius are major retailers such as two Ralphs, two Starbucks, CVS, ROSS, Bath & Body Works, Smart & Final, Dollar Tree, Chipotle, Panda, Wells Fargo and many more (see page 10). As an essential medical use, the site and tenant benefit from being in an extremely dense demographic area with over 857,000 people in a five-mile radius an average house-hold income of over $96,000.

Exclusively Listed By

Financing By

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