Boulder Group Arranges Sale of Medical Facility
- Jul 04, 2017
The Boulder Group has arranged the sale of a single-tenant net-leased Fresenius Medical Care property in Enola, Pa., on behalf of the seller, a Northeastern private partnership. A West Coast-based real estate investor purchased the asset for $1.9 million.
The 15-year triple net lease features 1.8 percent annual rental escalations throughout the primary term and three five-year renewal options.
Located at 390 E. Penn Drive., the building sits on a 1.5-acre site, just two miles from the PinnacleHealth Fredricksen Outpatient Center. The property is situated in an area with more than 50,500 people within a three-mile radius, with easy access to Interstate 81. The health-care facility is close to retailers such as CVS Pharmacy, First National Bank and KinderCare.
Randy Blankstein and John Feeney led The Boulder Group team representing the seller.
“Medical-related properties featuring long-term leases with multiple rental escalations continue to be highly sought after amongst the investor community as they provide an inflationary hedge,” said Randy Blankstein, president of The Boulder Group, in prepared remarks. Feeney believes that medical properties appeal to investors because they are highly resistant to e-commerce.
Image courtesy of The Boulder Group