KeyBank Data Center Sale-Leaseback
US - Solon, OH
9,788 m²
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in the Woodside Animal Hospital, a subsidiary of VetCor, located in Port Orchard, WA (the “Property” or “Asset”). VetCor of Washington State operates on a long-term double-net lease with 8.8 years remaining and 2% annual rent increases throughout the primary and renewal option periods. VetCor of Washington State is a subsidiary of VetCor Holdings, one of the largest private equity-backed veterinary service providers in the nation, with over 800 locations in 40 states. This investment presents the unique opportunity to acquire a leading veterinary service provider within fast-growing Puget Sound market.
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Attributes
Asking Price
A$2,545,000
Building area Net
314 m²
Year built
1978
Occupancy
100.00%
Cap Rate
6.60%
NOI
A$168,000
Media
Investment Highlights
- 8.8 years remaining on a net lease with 2.0% bumps annually
- Woodside Animal Hospital has operated at this location since 1970 and was recently purchased by VetCor
- The surrounding 5-mile radius has seen 12.4% population growth since 2010 and has a AHHI of $86,244
- Situated in the thriving Puget Sound market adjacent to the Seattle MSA
- The Veterinary Services market has had significant revenue growth of 11.4% since 2019 and is expected to reach $65.6 billion by 2029
Contact brokers
Woodside Animal Hospital (0 Properties)
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Last updated
27 May 2023
