VetCor & Bylee's - Pasco, WA_Property for Sale
VetCor & Bylee's - Pasco, WA_Property for Sale
8823 Sandifur Pkwy, Pasco, WA, 99301, US

VetCor & Bylee's - Pasco, WA

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in the Pet Medical Center of Pasco, a subsidiary of VetCor, and Blylee’s Natural Pet Food & Supplies, located in Pasco, WA (the “Property” or “Asset”). VetCor of Washington State operates on a long-term double-net lease with 7.4 years remaining and 2% annual rent increases throughout the primary and renewal option periods. Blylee’s will enter into a sale-leaseback agreement at closing with a lease term of 10 years and 2.0% annual rent increases. 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. Blylee’s offers leading natural foods and superior grooming services, leading to exceptional site-level performance.

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Attributes

Building area Net
1,119 m²
Year built
2008
Occupancy
100.00%
NOI
€257,000

Media

Investment Highlights

  • 8.0 years of WALT on a net leases with 2.0% bumps annually
  • Pet Medical Center of Pasco has operated at this location since 1978 and was recently purchased by VetCor due to site's strong performance
  • The surrounding 3-mile radius has seen 53.3% population growth since 2010 and has a AHHI of $106,437
  • Situated in the high-growth Tri-Cities region, with Franklin County's population growing at the fastest rate in Washington state
  • The Veterinary Services market has had significant revenue growth of 11.4% since 2019 and is expected to reach $65.6 billion by 2029


VetCor & Bylee's - Pasco, WA 4_Property for Sale
VetCor & Bylee's - Pasco, WA 4_Property for Sale

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VetCor & Bylee's - Pasco, WA (0 Properties)

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Last updated
22 Jun 2023