1315 Aaron Dr
Richland, WA 99352
Davita · Retail Property For Sale

Marcus & Millichap has been exclusively selected to market for sale the DaVita Dialysis Center at 1315 Aaron Drive in Richland, WA. The 7,500-sf structure sits on 20,547-sf parcel with highway exposure and access to Interstate 182 and Highway 240, which carry 69,000 and 46,000 vehicles per day, respectively. The property is in close proximity to the region’s medical campus, which includes the Kadlec Regional Medical Center, Lourdes Health and Settle Children’s Hospital, among many other medical facilities and clinics. Built in 2008 as a build-to-suite for Davita, the property was delivered to the tenant in shell condition with a gravel floor. The tenant indicated spending $1.5 million to complete the build-out, and paid rent for approximately 18 months before moving in. An additional $250,000 in additional improvements is planned to be completed in 2019. In December of 2018, DaVita exercised its first 5-year option as well as exercising its second 5-year option early, for a combined 10-year renewal period. The property is subject to a NNN lease in which the Landlord is only responsible for the roof, structure and limited capital expenditures. The lease also benefits from 2% annual increases in the initial term with 2.5% annual increase throughout the options. Moreover, the lease allows for a management fee reimbursement. A 6% of base rent fee is currently being paid by DaVita.