Interra Realty, a Chicago-based commercial real estate investment services firm, has brokered the $2.9 million sale of a 5,891-square-foot DaVita Dialysis Clinic at 816 119th St. in Whiting, Indiana. The single-tenant net-leased property, which was completed last year, is in the first year of a 15-year lease and was purchased through a 1031 exchange.
Colin O’Malley, director at Interra Realty, represented the buyer, Talcott Terrace LLC, in the sale, ensuring the transaction met all 1031 eligibility requirements. The seller was Dayton Street Partners, represented by Boulder Group.
DaVita is a Fortune 500 company and one of the largest kidney care companies in the United States. The property has a corporate guaranteed lease featuring 10 percent rental escalations every five years in the primary term and in each of the three five-year renewal option periods.
Built in 2018, the property is located about 18 miles south of downtown Chicago, close to the Illinois-Indiana border.