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Office Medical

BioLife Moorhead

2960 12th St S, Moorhead, MN 56560

Listing Price: $5,125,000

Cap Rate
5.80%
Gross SF
15,000
Rentable SF
15,000
Price/Gross SF
$341.67
Occupancy
100.0%
Year Built
2008
Lot Size
1.27 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 Moorhead, Minnesota, the twin city to Fargo North Dakota. 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 2008 as a build to suit for BioLife on a ten year lease through 2018, BioLife chose to extend the original terms to a twenty year lease, while retaining their two five-year extension options. The lease features approximately six years of firm term remaining with a triple net lease structure and a 5.0 percent rent increase upcoming on April 1, 2023. The Asset is well located in a commercial corridor just off the Interstate-94 and Highway 75 interchange in Moorhead, Minnesota, the twin city to Fargo, ND. The Asset benefits from healthy population counts within its trade area, easy accessibility, and location less than two miles south of Concordia College and Moorhead State University, with a combined student body of approximately 7,500 students. This offering presents the rare opportunity to acquire a stabilized medical office asset with an industry leading tenant, passive ownership structure, at least six years of remaining term, 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 approximately 6 years remaining term with a 5.0 percent 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 percent to 8 percent each year
  • Easily accessible location off 30th Ave, with immediate access to I-94 and Hwy 75
  • Less than two miles south of Concordia College and Moorhead State University, which have a combined enrollment of 7,500 students
  • Well located in the Fargo - Moorhead MSA with a population of 145,800 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

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) MN: 40583288

    Minnesota

Office Medical

BioLife Moorhead

Listing Price: $5,125,000

Cap Rate
5.80%
Gross SF
15,000
Rentable SF
15,000
Price/Gross SF
$341.67
Occupancy
100.0%
Year Built
2008
Lot Size
1.27 acres

Investment Highlights

  • The Asset has approximately 6 years remaining term with a 5.0 percent 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 percent to 8 percent each year
  • Easily accessible location off 30th Ave, with immediate access to I-94 and Hwy 75
  • Less than two miles south of Concordia College and Moorhead State University, which have a combined enrollment of 7,500 students
  • Well located in the Fargo - Moorhead MSA with a population of 145,800 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 Moorhead, Minnesota, the twin city to Fargo North Dakota. 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 2008 as a build to suit for BioLife on a ten year lease through 2018, BioLife chose to extend the original terms to a twenty year lease, while retaining their two five-year extension options. The lease features approximately six years of firm term remaining with a triple net lease structure and a 5.0 percent rent increase upcoming on April 1, 2023. The Asset is well located in a commercial corridor just off the Interstate-94 and Highway 75 interchange in Moorhead, Minnesota, the twin city to Fargo, ND. The Asset benefits from healthy population counts within its trade area, easy accessibility, and location less than two miles south of Concordia College and Moorhead State University, with a combined student body of approximately 7,500 students. This offering presents the rare opportunity to acquire a stabilized medical office asset with an industry leading tenant, passive ownership structure, at least six years of remaining term, 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

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): MN: 40583288

    Minnesota

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