Marcus & Millichap brokered the sale of DaVita Dialysis, a 7,560-square-foot office property in Ashtabula, Ohio. The asset sold for $975,000.
Sean Sharko, senior managing director investments; Austin Weisenbeck, senior managing director investments; and Daniel Chumbley, associate, of Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, an Ohio-based individual. Michael Glass, Ohio broker of record, assisted in closing this transaction.
The two-tenant medical center anchored by DaVita Dialysis is located at 1604 W. 19th St. in Ashtabula. This property has been operating as a dialysis clinic since 1998 and signed a 10-year extension in 2017, which included a ROFR on the podiatrist space. The podiatry tenant has been at this location since 1998 and signed a seven-year extension in 2020.
The low rent per square foot makes the location difficult for tenants to replace. As of December 2022, the roof was replaced, and the parking lot was redone in 2018.
