A 7,358 square foot freestanding dialysis facility is leased to Fresenius SE & Co. KGAA (ETR:FRE) dba Fresenius Medical Care (FMC). The site is ideally positioned on the hard corner of Howell Boulevard and 72nd Avenue, just 0.3 miles from interstate 110 (56,890 VPD). Baton Rouge is the state’s capital and the second largest city in Louisiana. The location was selected for its strategic position within a premier retail, commercial and residential corridor and proximity to Champion Medical Center, a new 25,000 sf specialized surgical hospital that opened in January 2014. Within 3 miles of the property, there exists approximately 1.7 msf of retail, 1.3 msf of industrial and 2,000 multifamily units and strong demographics (3-mile population of 63,130). Other major tenants with a presence in the immediate vicinity include: Chevron, Hilton Garden Inn, Microtel Inn and Suites, Subway, Burger King, IHOP, Sonic, Racetrac, Exxon, Advance Auto Parts, Days Inn, McDonald’s and Jack In The Box among others. The property is also less than 2.5 miles east of Southern University A&M College. Seller of the property was a REIT which needed to reduce its debt level. Bedrock Investments Group (BIG) used proceeds from the sale of the Glendale, AZ Taco Bell to complete a 1031 exchange for the acquisition. Investors received increased cash flow, additional lease term, and superior tenant credit.
Aspen DentalMarshalltown, Iowa
Hendrick Regional HealthAbilene, Texas