October 18, 2017 – Adam Mancinone and Blake Barbarisi of Horvath & Tremblay have successfully completed the sale of Fresenius Medical Center in Neenah, WI. Horvath & Tremblay procured the buyer to close the property at a sale price of $4,900,000.
Fresenius Medical Center operates under a corporately guaranteed lease with over eleven and half years remaining on base term of the lease with three, 5-year options. A rental escalation of ten percent is scheduled on December 1, 2023. The Subject Property was a build-to-suit that was completed in 2008. Fresenius Medical Care and the Fox Valley Nephrology Partners have operated out of the Subject Property since its completion. Fresenius leases 10,600 square feet (71%) and Fox Valley Nephrology Partners leases 4,400 square feet (29%). Both leases run co-terminus. This Fresenius location has been very successful and operates five shifts as well as serving as the corporate training facility for the regional area. The property is located adjacent to the campus of ThedaCare Medical Center-Neenah, a 182-bed short term acute care hospital and the third largest healthcare employer in Wisconsin.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.