SECURE INCOME STREAM
- New 10 year lease term expiring in May 2031
- Scheduled 1.7% annual rent increases, plus three, 5-year options provide attractive rent growth during the lease term
- 2021 renovation-to-suit for Fresenius Kidney Care, brand new state-of-the art home training clinic
ESSENTIAL, RECESSION-RESISTANT TENANT
- Florida is a tax free state
- The government has provided healthcare coverage for end stage renal disease (ESRD) since 1972 under the Medicare ESRD Program
- Fresenius Kidney Care has an S&P investment grade rating of BBB- and has a net worth of $10.144 Billion
- Given the nature of the product, Fresenius Kidney Care is a recession-resistant tenant that has been least affected by the demand of e-commerce and the recent COVID-19 Pandemic
PROXIMITY
- Rare South Florida location surrounded by dense residential neighborhoods, national retailers and local hospitals; AdventHealth Daytona Beach (327 beds) and Halifax Health (88 patient beds)
- Ideally located with excellent access and visibility from Dunlawton Avenue (Traffic Count: 40,000 VPD), and under 3 miles east of Interstate 95 (Traffic Count: 60,000 VPD), which provides direct access to the city of Daytona Beach, Orlando, Ft. Lauderdale & other major coastal cities
- Exceptional demographics Over 107,000 residents and an average household income exceeding $73K within a five-mile radius