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Single-Tenant Office Medical

Fresenius Medical Care (Absolute NNN)

6508 E J Oliver Blvd, Fairfield, AL 35064

Listing Price: $2,186,819

Cap Rate
5.25%
Tenant Name
NNA of Alabama, Inc.
Years Remaining On Lease
16.4
Guarantor
Corporate Guarantee
Rentable SF
4,468
Lease Type
Absolute Net
Rent Per Square Feet
$25.70

Investment Overview

RARE 20-YEAR ORIGINAL LEASE TERM WITH ANNUAL CPI INCREASES 20-year (17-years remaining) Absolute NNN lease with annual CPI rent increases (1% floor, 2% max). There are an additional three, 5-Year Renewal Option Periods. ABSOLUTE NNN LEASE Unlike the standard dialysis center leases with significant Landlord responsibilities (such as roof, structure, parking lot and HVAC replacement), the Subject Property has an absolute NNN lease structure that provides an investor with a long-term, passive income stream with no landlord maintenance responsibilities whatsoever. (See Market Lease Comparison) WELL-ESTABLISHED LOCATION IN BIRMINGHAM MSA Fresenius has a 20-year operational history at this location. The Subject Property is located in a dense retail corridor. National retailers in the immediate area include Home Depot, Wells Fargo, Walgreens, Wendy’s, McDonald’s, Sonic Drive-In, Advance Auto Parts and many more. Fairfield is part of the Birmingham metropolitan area boasting a population of more than 1,100,000 residents, 26 accredited universities and colleges enrolling 130,000+ students, producing over 20,000 prospective employees every year, a veteran workforce of more than 25,000 members, and a highly skilled labor force of 800,000 workers within 60 minutes of downtown. Greater Birmingham benefits from the 75+ healthcare companies in the region, 59,000 healthcare workers and groundbreaking research performed at the University of Alabama Birmingham (UAB). As Alabama’s largest employer, UAB generates more than $7 billion in economic impact annually and employs more than 23,000. INVESTMENT GRADE LEASE GUARANTOR(1) Fresenius Medical Care Holdings, Inc., the Guarantor under the Lease, has been rated “BBB/Stable” by S&P and carries a rating of “Baa3/Stable” from Moody’s, which are both Investment Grade according to each agency’s credit rating scales. This information must be verified by Buyer.

Investment Highlights

  • RARE 20-YEAR ORIGINAL LEASE TERM WITH ANNUAL CPI INCREASES
  • ABSOLUTE NNN LEASE
  • INVESTMENT GRADE LEASE GUARANTOR

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Single-Tenant Office Medical

Fresenius Medical Care (Absolute NNN)

Listing Price: $2,186,819

Cap Rate
5.25%
Tenant Name
NNA of Alabama, Inc.
Years Remaining On Lease
16.4
Guarantor
Corporate Guarantee
Rentable SF
4,468
Lease Type
Absolute Net
Rent Per Square Feet
$25.70

Investment Highlights

  • RARE 20-YEAR ORIGINAL LEASE TERM WITH ANNUAL CPI INCREASES
  • ABSOLUTE NNN LEASE
  • INVESTMENT GRADE LEASE GUARANTOR

Investment Overview

RARE 20-YEAR ORIGINAL LEASE TERM WITH ANNUAL CPI INCREASES 20-year (17-years remaining) Absolute NNN lease with annual CPI rent increases (1% floor, 2% max). There are an additional three, 5-Year Renewal Option Periods. ABSOLUTE NNN LEASE Unlike the standard dialysis center leases with significant Landlord responsibilities (such as roof, structure, parking lot and HVAC replacement), the Subject Property has an absolute NNN lease structure that provides an investor with a long-term, passive income stream with no landlord maintenance responsibilities whatsoever. (See Market Lease Comparison) WELL-ESTABLISHED LOCATION IN BIRMINGHAM MSA Fresenius has a 20-year operational history at this location. The Subject Property is located in a dense retail corridor. National retailers in the immediate area include Home Depot, Wells Fargo, Walgreens, Wendy’s, McDonald’s, Sonic Drive-In, Advance Auto Parts and many more. Fairfield is part of the Birmingham metropolitan area boasting a population of more than 1,100,000 residents, 26 accredited universities and colleges enrolling 130,000+ students, producing over 20,000 prospective employees every year, a veteran workforce of more than 25,000 members, and a highly skilled labor force of 800,000 workers within 60 minutes of downtown. Greater Birmingham benefits from the 75+ healthcare companies in the region, 59,000 healthcare workers and groundbreaking research performed at the University of Alabama Birmingham (UAB). As Alabama’s largest employer, UAB generates more than $7 billion in economic impact annually and employs more than 23,000. INVESTMENT GRADE LEASE GUARANTOR(1) Fresenius Medical Care Holdings, Inc., the Guarantor under the Lease, has been rated “BBB/Stable” by S&P and carries a rating of “Baa3/Stable” from Moody’s, which are both Investment Grade according to each agency’s credit rating scales. This information must be verified by Buyer.

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

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