725 W Fabyan Pkwy, Batavia, IL 60510
Marcus & Millichap is pleased to present the fee-simple ownership interest in 725 Fabyan Parkway Batavia, Illinois. This 9,944-square foot medical office property is 100 percent occupied by a synergistic mix of medical tenants, all operating under desirable Triple-Net/Modified-Gross lease structures. The sites rental roll is extremely competitive, with all tenants possessing healthy renewal options and rental increases. The property is strategically positioned along W Fabyan Parkway seeing over 27,000 vehicles per day. Just 15-minutes from DuPage International Airport and its proximity to nationally recognized Northwestern Medicine Delnor Hospital, this medical office asset boasts irreplaceable positioning. The site is anchored by prominent health care provider DuPage Medical Group who occupies 51.1 percent of the rentable building area with lease term through 2027. DuPage Medical Groups lease boasts 2 percent annual rental escalations and two, five-year renewal options. Wheaton Pediatrics operates 32.9 percent of the site with lease term through 2023 and healthy 2 percent annual increases. The remaining building is occupied by The Chicago Institute of Plastic Surgery. The institute has lease term through 2021 with 3 percent annual rental increases and four, one-year options. There are current talks for an early renewal. The weighted average lease term (WALT) for the site is 4.65 years.
Located 35 miles west of downtown Chicago, Batavia provides convenient access to big-city attractions while preserving a small-town atmosphere. Nearby Interstate 88 runs east and west providing easy access to Chicago and surrounding communities. Routes 38 and 64 are alternative routes. Founded in 1833, it is the oldest city in Kane County.
This property offers an investor the opportunity to acquire a fully stabilized, medical office asset, boasting a competitive rental roll and location. The passive nature of the leases minimizes landlords responsibility, while annual rental increases provide an excellent hedge against future inflationary pressure.
Marcus & Millichap is pleased to present the fee-simple ownership interest in 725 Fabyan Parkway Batavia, Illinois. This 9,944-square foot medical office property is 100 percent occupied by a synergistic mix of medical tenants, all operating under desirable Triple-Net/Modified-Gross lease structures. The sites rental roll is extremely competitive, with all tenants possessing healthy renewal options and rental increases. The property is strategically positioned along W Fabyan Parkway seeing over 27,000 vehicles per day. Just 15-minutes from DuPage International Airport and its proximity to nationally recognized Northwestern Medicine Delnor Hospital, this medical office asset boasts irreplaceable positioning. The site is anchored by prominent health care provider DuPage Medical Group who occupies 51.1 percent of the rentable building area with lease term through 2027. DuPage Medical Groups lease boasts 2 percent annual rental escalations and two, five-year renewal options. Wheaton Pediatrics operates 32.9 percent of the site with lease term through 2023 and healthy 2 percent annual increases. The remaining building is occupied by The Chicago Institute of Plastic Surgery. The institute has lease term through 2021 with 3 percent annual rental increases and four, one-year options. There are current talks for an early renewal. The weighted average lease term (WALT) for the site is 4.65 years.
Located 35 miles west of downtown Chicago, Batavia provides convenient access to big-city attractions while preserving a small-town atmosphere. Nearby Interstate 88 runs east and west providing easy access to Chicago and surrounding communities. Routes 38 and 64 are alternative routes. Founded in 1833, it is the oldest city in Kane County.
This property offers an investor the opportunity to acquire a fully stabilized, medical office asset, boasting a competitive rental roll and location. The passive nature of the leases minimizes landlords responsibility, while annual rental increases provide an excellent hedge against future inflationary pressure.
