The subject property is a 2014 stand-alone 6,325 SF DaVita build-to-suit clinic. DaVita signed a 15-year, NNN, corporate guaranteed lease which commenced on January 11, 2014 and expires January 10, 2029 with two five-year options to extend. The lease calls for favorable increases of 10% every five years. The property is subject to a 75-year ground lease which commenced April 26, 2013. All ground lease payments are classified as operating expenses in the NNN lease and are thereby passed through to the tenant. For more than 40 years, DaVita has been on the leading edge of kidney care and continues to innovate and grow in order to save the lives of its patients. DaVita is the country’s largest kidney care provider, with a vast renal care network that serves over 27,000 patients every month in over 3,000 dedicated clinics.
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15 YEAR INITIAL LEASE TERM EXPIRES JANUARY 2029
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INVESTMENT GRADE TENANT
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ESSENTIAL DIALYSIS OUTPATIENT SERVICE
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DISASTER RESISTANT INVESTMENT
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ATTRACTIVE RENT GROWTH OF 10% EVERY 5 YEARS DURING THE LEASE TERM
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2014 BUILD-TO-SUIT FOR DAVITA
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CENTRALLY LOCATED WITH CONVENIENCE TO US INTERSTATE 20
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CLOSE PROXIMITY TO HEALTH CENTER AND NUMEROUS MEDICAL OFFICES
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HEALTHCARE RELATED REAL ESTATE HAS BEEN THE LEAST AFFECTED BY E-COMMERCE
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GOVERNMENT FUNDING HEALTHCARE UNDER THE MEDICARE ESRD PROGRAM
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EXCELLENT ACCESS AND LOCATION
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STRONG MEDICAL DEMOGRAPHICS
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SIOUX CITY IS ONE OF THE MOST BUSINESS FRIENDLY CITIES IN THE COUNTRY
Adjacent and visible from Interstate 20, this property features great visibility, convenience, and easy access with exposure to high traffic counts. The site is located within a short distance of a major retail corridor of Sioux City, which includes major retailers such as Target, Starbucks, CVS, Lowe’s Home Improvement, Marshalls, Bed Bath & Beyond, Ulta Beauty, Panda Express, Sherwin-Williams, McDonald’s, and Hobby Lobby. The property is also situated in the Sunnybrook Medical Plaza – home of St. Luke’s Sunnybrook, one of the largest UnityPoint Health centers in the entire Sioux City metropolitan area. With such proximity to a major health center, the clinic is located in one of the primary medical corridors of Sioux City which is home to regionally well-known medical office buildings such as BioLife Plasma Services and the Wadzinski Eye Clinic.
