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Office Medical

BioLife Fort Wayne

7921 Coldwater Rd, Fort Wayne, IN 46825

Listing Price: $4,664,759

Cap Rate
5.80%
Gross SF
15,000
Rentable SF
15,000
Price/Gross SF
$310.98
Occupancy
100.0%
Year Built
2007
Lot Size
1.75 acres

Investment Overview

We are pleased to offer for sale the fee simple interest in a freestanding, single-tenant medical office occupied by BioLife (the “Asset”) located in Fort Wayne, Indiana. BioLife Plasma Services is an industry leader in the collection of high-quality plasma that is processed into life-saving plasma-based therapies. They operate over 190 state-of-the-art plasma collection facilities throughout the United States and Europe. BioLife Plasma Services is a subsidiary of Takeda Pharmaceutical Company Limited, a worldwide company focusing on the research, development, manufacturing, marketing, and out licensing of pharmaceuticals, headquartered in Tokyo, Japan. Takeda Pharmaceutical Company has investment grade credit (S&P BBB+, Moody’s Baa2) and is publicly traded (TSE:4502/NYSE:TAK) with a $47.07 billion market capitalization. The Asset serves as a local plasma donation center for BioLife. Constructed in 2007 as a build to suit for BioLife on a ten year lease through 2017, BioLife chose to extend the original terms to a twenty year lease, while retaining their two five-year extension options. The lease features over five years of firm term remaining with a triple net lease structure and a 5.0 percent rent increase upcoming on December 1, 2022. The Property is positioned on Coldwater Road, a heavily traffic north / south arterial running through the northern suburbs of Fort Wayne, and only one mile for Interstate 69 (I-69). The area is mature and densely populated, with over 57,900 households within five miles of the asset. This offering presents the rare opportunity to acquire a stabilized medical office asset with an industry leading tenant, passive ownership structure, at least 5.5 years of firm lease term remaining, a low rental rate with significant infrastructure investment made by the tenant, and outstanding security in the value of the underlying real estate.

Investment Highlights

  • The Asset has just over 5.5 years remaining with a 5.0% escalation upcoming, allowing for a low maintenance investment structure with income appreciation over the primary term
  • High quality build freestanding medical office
  • BioLife Plasma Services Parent Company, Takeda Pharmaceutical Company is publicly traded on the NYSE and holds investment grade credit
  • The plasma industry is worth over $24 billion in 2021, according to the Marketing Research Bureau, and that number could nearly double by 2027, as global demand for plasma-derived medicine rises by 6% to 8% each year
  • Easily accessible location off Coldwater Road, less than one mile from I-69 and three miles south of Parkview Regional Medical Center & Dupont Hospital
  • The Asset is well located in the Fort Wayne market and has a population of 144,764 within a five mile trade area

Exclusively Listed By

  • Peter Bauman

    Senior Vice President Investments

    (602) 687-6685

    Email Peter

    License(s): AZ: SA647389000, NV: S.0186153

    Phoenix

  • Tivon Moffitt

    Senior Vice President Investments

    (602) 687-6688

    Email Tivon

    License(s): AZ: BR639369000, NV: S.0186027, UT: 11178542-AB00

    Phoenix

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Office Medical

BioLife Fort Wayne

Listing Price: $4,664,759

Cap Rate
5.80%
Gross SF
15,000
Rentable SF
15,000
Price/Gross SF
$310.98
Occupancy
100.0%
Year Built
2007
Lot Size
1.75 acres

Investment Highlights

  • The Asset has just over 5.5 years remaining with a 5.0% escalation upcoming, allowing for a low maintenance investment structure with income appreciation over the primary term
  • High quality build freestanding medical office
  • BioLife Plasma Services Parent Company, Takeda Pharmaceutical Company is publicly traded on the NYSE and holds investment grade credit
  • The plasma industry is worth over $24 billion in 2021, according to the Marketing Research Bureau, and that number could nearly double by 2027, as global demand for plasma-derived medicine rises by 6% to 8% each year
  • Easily accessible location off Coldwater Road, less than one mile from I-69 and three miles south of Parkview Regional Medical Center & Dupont Hospital
  • The Asset is well located in the Fort Wayne market and has a population of 144,764 within a five mile trade area

Investment Overview

We are pleased to offer for sale the fee simple interest in a freestanding, single-tenant medical office occupied by BioLife (the “Asset”) located in Fort Wayne, Indiana. BioLife Plasma Services is an industry leader in the collection of high-quality plasma that is processed into life-saving plasma-based therapies. They operate over 190 state-of-the-art plasma collection facilities throughout the United States and Europe. BioLife Plasma Services is a subsidiary of Takeda Pharmaceutical Company Limited, a worldwide company focusing on the research, development, manufacturing, marketing, and out licensing of pharmaceuticals, headquartered in Tokyo, Japan. Takeda Pharmaceutical Company has investment grade credit (S&P BBB+, Moody’s Baa2) and is publicly traded (TSE:4502/NYSE:TAK) with a $47.07 billion market capitalization. The Asset serves as a local plasma donation center for BioLife. Constructed in 2007 as a build to suit for BioLife on a ten year lease through 2017, BioLife chose to extend the original terms to a twenty year lease, while retaining their two five-year extension options. The lease features over five years of firm term remaining with a triple net lease structure and a 5.0 percent rent increase upcoming on December 1, 2022. The Property is positioned on Coldwater Road, a heavily traffic north / south arterial running through the northern suburbs of Fort Wayne, and only one mile for Interstate 69 (I-69). The area is mature and densely populated, with over 57,900 households within five miles of the asset. This offering presents the rare opportunity to acquire a stabilized medical office asset with an industry leading tenant, passive ownership structure, at least 5.5 years of firm lease term remaining, a low rental rate with significant infrastructure investment made by the tenant, and outstanding security in the value of the underlying real estate.

Exclusively Listed By

  • Peter Bauman

    Senior Vice President Investments

    (602) 687-6685

    Email Peter

    License(s): AZ: SA647389000, NV: S.0186153

    Phoenix

  • Tivon Moffitt

    Senior Vice President Investments

    (602) 687-6688

    Email Tivon

    License(s): AZ: BR639369000, NV: S.0186027, UT: 11178542-AB00

    Phoenix

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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