Long Term, NNN Lease – 11.5 years remaining on a 15-year lease term with two, 5-year option periods.
Rent Increases – 2% annual rent increases throughout the lease term.
Corporate Guaranty – Corporate lease guaranty by DaVita, Inc., a leading provider of dialysis treatment with a Ba2 credit rating and revenues exceeding $11.5 B.
Excellent Location – Surrounded by national retail tenants on a busy north-south corridor, Route 1 (20,000 VPD).
Strong Demographics – The average household income exceeds $102K in a 5-mile radius.
CON State – North Carolina is a Certificate of Need State, creating significant barriers of entry from any competition in the marketplace.