1849 Davisville Rd
Willow Grove, PA 19090
Davita Dialysis · Office Property For Sale

CBRE is pleased to exclusively present for sale this DaVita Dialysis center located in Willow Grove, Pennsylvania. This is one of Davita's only nocturnal dialysis units in the Philadelphia MSA, offering a service not found in the majority of dialysis centers in addition to traditional dialysis. Strategically located just 1.5 miles from Interstate 276, the property is easily accessible for patients in nearby surrounding towns. DaVita has been successfully operating in this location since 2010 and has over 6 years remaining on the initial 15 year lease term with two, five year options to renew thereafter. There are also rare 2% annual rental increases throughout the base term of the lease and FMV increases in the option periods. The probability for renewal in the dialysis industry is very high due to the numerous challenges in relocating a center not to mention the specialty of the services offered in this location. This is a passive investment, as the tenant reimburses the landlord for taxes, insurance and common area maintenance. The building requires little to no deferred maintenance as it was “gut renovated” in 2010 with all new systems and a new roof with a transferable manufacturer’s warranty. The lease is also corporately guaranteed by Davita Inc., one of the largest providers of dialysis services in the world and rated "BB" by Standard & Poor's. The subject property is situated directly across Easton Road from the Willow Grove Park Mall, a super-regional enclosed mall. Easton Road is a major throughway with 15,000 V.P.D. connecting to North York Road with over 27,800 V.P.D. Davita is strategically located in close proximity to major medical centers including Abington Hospital, Holy Redeemer Hospital, Chestnut Hill Hospital, Jeanes Hospital, Einstein Medical Hospital and Nazareth Hospital to name a few. This area offers extreme population density as one of the most heavily populated areas in the Philadelphia MSA with 17,633 people in the 1 mile ring, 85,709 people in the 3 mile ring and 243,011 people in the 5 mile ring as well as positive annual population growth in all three rings. This is a regional hub location, situated 1.5 miles from I-276 (PA Turnpike), directly adjacent to the Willow Grove Park Mall and surrounded by national tenants including Giant, DICK's Sporting Goods, ALDI, Home Goods, Chipotle, Petco, Barnes & Noble and Panera Bread to name a few.