The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single-tenant, net-leased Fresenius Medical Care property located at 1920 Sheridan Road in Zion, Illinois for $3,453,692.
The Fresenius property is strategically located along a primary north-south thoroughfare. The property has excellent visibility along Sheridan Road, the primary thoroughfare in the area. The property was newly constructed in 2018 and is located near Jewel-Osco. There are over 70,000 people living within a five-mile radius of the property.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer and seller in the transaction. The seller was a Midwest based real estate development company and the buyer was a Chicago-based real estate investment firm.
The newly signed Fresenius lease is for 15 years and features 10 percent rental escalations every five years throughout the primary term and three five-year renewal option periods. Fresenius Medical Care provides renal services to hundreds of thousands of people through their 2,200+ dialysis facilities. Fresenius is an investment-grade rated company with a Standard & Poor’s rating of BBB-.
“Medical related properties featuring long-term leases with multiple rental escalations continue to be highly sought after amongst the investor community as they provide an inflationary hedge,” said Blankstein, president of The Boulder Group.
“We are seeing many investors turn their attention toward medical properties as they are highly resistant to e-commerce,” said Goodman, partner of The Boulder Group.