Cap Rate: 4.65%
Net Operating Income: $897,884
Square Footage: +/- 17,267
Lot Size: 1.52 AC
Year Built: 2021
The Kase Group is pleased to present this DaVita Dialysis in Concord, California with a new 15 year net lease. The lease is corporately guaranteed by DaVita Dialysis. The tenant has scheduled increases in rent every 5 years. The tenant also has three, five-year option to renew beyond the initial term. The site is brand new 2021 construction. This site benefits from being on a major commercial thoroughfare and experiences a high volume of traffic with over 31,000 VPD.
DaVita has been successfully operating in the Concord market for over 18 years. Kaiser Permanente, one of the largest healthcare operators in Northern California, has aligned with DaVita to provide services to their patients. Kaiser does not have the ability to serve all of the dialysis demand, thus they have entered into an alliance with DaVita to serve their patients. In order to do so, DaVita needed to secure a much larger facility in the submarket, that's where 1225 Willow Pass Road comes into play. This is a mission critical facility for DaVita.
Concord is the largest city in Contra Costa County, California. At the 2010 census, the city had a population of 122,067 making it the 8th largest city in the San Francisco Bay Area. Concord is a city in California northeast of San Francisco. Nearby, Briones Regional Park features views of the Diablo Valley and a trail to Diablo Foothills Regional Park, with wildflowers and views of San Francisco Bay. A former coal-mining site, Black Diamond Mines Regional Preserve includes grasslands, pepper trees and lilies. The multi-use Iron Horse Regional Trail connects Concord to the city of Pleasanton.