DaVita Dialysis

3120 2nd Street | Marshalltown, Iowa

Case Study

This Bedrock Investments Group’s (BIG) acquisition served as the “up-leg” of a 1031 exchange for the proceeds from Goodyear Orange Park (Jacksonville, FL) disposition. BIG acquired a fee simple ownership of a seasoned 5,961 sf DaVita Dialysis Center, which opened in 2008. DaVita Healthcare Partners, Inc. (NYSE: DVA), the dominant dialysis provider in Iowa, recently exercised an early lease renewal. This facility has twenty-four (24) dialysis stations with capacity for additional patients. The QIP score for 2012-2015 for this facility is 98; the national average is 81. Purchase price per sf is below replacement cost for a dialysis center. It is located in Marshalltown’s retail core, adjacent to the VA clinic, positioned on a national tenant retail corridor including Wal-Mart Superstore, JC Penney, Menards, Aldi, Dollar General, and Advance Auto Parts. The seller is a local developer/owner who wanted to capitalize a pending industrial project with proceeds from the sale.

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