- Details
- Investment Highlights
- Description
Tenant
U.S. Department of Veterans Affairs
Location
Akron (Kent) , Ohio
Price
Unstated
CAP Rate
Unstated
NOI
Unstated
Lease Term
20 Years
Occupancy
100%
Building Size
23,524 SQ FT
Property Type
Office
Year Built
2025
Lot Size
4.38 Acres
Status
Under Contract
Property Contacts:
100% LEASED TO THE U.S. FEDERAL GOVERNMENT
Single-tenant facility leased to the U.S. Federal Government, with lease guaranteed by the full faith and credit of the United States of America, featuring an Aaa credit rating and unrivaled income security
NEW 20-YEAR LEASE TERM / 2025 BUILD-TO-SUIT CONSTRUCTION
2025 build-to-suit construction; first-generation, 20-year lease with U.S. Department of Veterans Affairs, providing the maximum allowable term per federal contracting regulations and a rare federal structure with 15 years of firm, non-cancellable lease term
HIGHLY SPECIALIZED IMAGING & INFUSION CENTER
Specialty-specific VA facility providing essential oncology services to over 50,000 patients in a regional area within a 30 – 60 minute drive time; imaging and infusion center with 14 infusion treatment stations, a compounding pharmacy, and blood laboratory, providing patients with comprehensive diagnostic imaging including MRI, CT, SPECT/CT, PET/CT, and ultrasound, and additional specialties including nutrition, social work, cardiology, and cardiac stress testing
$11.57 MILLION IN TENANT-FUNDED IMPROVEMENTS ($492 PER SQ FT)
Tenant-funded improvements of approximately $11.57 million ($492 per square foot) evidences the significant investment in this facility by VA, and creates an attractive asset basis that is below both current and future replacement costs
EXCELLENT LOCATION IN KENT, OHIO (AKRON MSA)
Located in the Akron suburb of Kent, Ohio, home of Kent State University (campus enrollment exceeding 25,000 students), the VA Oncology Imaging & Infusion Center benefits from strong positioning adjacent to a major retail center with big box tenants including Kohl’s, Lowe’s Home Improvement, and Walmart Supercenter, and additional national retailers that includes Marshalls, Petco, Chipotle, Dairy Queen, Applebee’s, Panera Bread, Starbucks, Panda Express, Burger King, Chase Bank, and numerous others
