WelbeHealth Fresno_Property for Sale
WelbeHealth Fresno_Property for Sale
1649 Van Ness Ave, Fresno, CA, 93721, US

WelbeHealth Fresno

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present qualified investors the opportunity to acquire WelbeHealth Fresno Center (the “Facility” or “Property”), a Class A PACE medical facility located in the heart of Fresno, California. The Property is 100% leased and occupied by WelbeHealth (“Welbe” or “Tenant”) with 15 years of remaining primary term.


Welbe is one of the fastest growing operators of PACE facilities in the United States with significant market share across California. PACE is a community-based, comprehensive care program providing high-cost seniors with their unique complex medical needs and nursing-home level of care. The Facility contains a medical clinic, full dental care, rehabilitation gym, recreation space and a separate space for dementia care.


The Facility provides critical services for seniors throughout Fresno, CA - the 5th largest city in the state and the economic hub of the San Joaquin Valley boasting a diverse and resilient local economy. The Property's dense infill location benefits from a population over 140,000+ residents within a 3-mile radius.

 

This site is one of Welbe’s strongest performers (please inquire for financial details), and the lease was recently amended to add a fresh 5-years of additional term, bringing remaining primary term to 15 years, demonstrating Welbe’s long-term commitment to this facility.


The offering provides investors the ability to acquire purpose-built real estate in an attractive California market while also partnering with a high-growth healthcare tenant that is providing recession-resistant, critical services for Fresno’s senior community.

...

Attributes

Building area net
1,617 sm
Occupancy
100%
Year renovated
2020
Land area gross
0.31 ha
WALT
15 years

Media

Investment highlights

  • 18,869 square foot, Class A new construction PACE facility strategically located on a highly visible hard corner of Fresno, CA
  • Recently extended lease resulting in 15 years of remaining lease term with 2.25% annual escalations and minimal landlord responsibilities.
  • WelbeHealth is a growing operator with a strong financial position, 10 existing locations across California and a pipeline of new locations set to
  • open that will help fuel its next phase of growth
  • Opportunity to build a relationship with a Welbe, a growing healthcare operator, as they continue to expand their footprint
  • Exposure to the recession-resistant healthcare industry and critical senior care services
  • Favorable demographics surrounding the site with a dense 140,000+ population within a 3-mile radius that will bring customers to the site as a
  • result of its proximity to a significant 55+ year old population
WelbeHealth Fresno 4_Property for Sale
WelbeHealth Fresno 4_Property for Sale

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WelbeHealth Fresno (0 Properties)

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Last updated
Jul 12, 2024