The Boulder Group has completed the sale of a single tenant Seasons Inpatient Hospice property located at 2195 West Diehl Road in Naperville, Illinois, for $5,342,857.
The recently constructed 10,342-square-foot Seasons Inpatient Hospice facility is located along Diehl Road. The property is benefitted by its proximity to Interstate 88 and Route 59.
The firm reported that this Seasons Inpatient Hospice location received the last issued license in the state of Illinois for an inpatient hospice facility in an area with a population of 200,000 to 700,000, providing for substantial barriers to entry. Seasons Hospice Inpatient and Palliative Care is a for-profit hospice operator.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private real estate corporation. The purchaser was a 1031 exchange investor from California.
Seven years remain on the Seasons Inpatient Hospice lease which expires in January 2023. The lease features annual rental escalations and no landlord responsibilities. Seasons Inpatient Hospice is the fourth largest hospice company in the United States.
