400 John Deere Rd
Moline, IL 61265
Office Property For Sale

Fresenius Medical Care and Medical Office Building The subject property is 21,142-square-foot, two-tenant medical office building that is fully occupied by Fresenius Medical Care (FMC) and an ambulatory surgery center. Upon the close of escrow, the ASC will execute a brand new two-year sale-leaseback with 1.50 percent annual rental increases and three, two-year options to renew. It is not the tenant' s intent to continue utilizing this space as a surgery center. It is the tenant' s intent to find a sub-lessor to take over the lease or allow a new owner to re-lease the space upon expiration two years from close of escrow. Fresenius Medical Care (Standard & Poor' s BBB-)) recently acquired the operational interest of Quad City Kidney Center, Ltd., the previous operator of this location. At that time, FMC agreed to execute a brand new 15-year lease. The lease commenced May 1, 2016 and include 10 percent rent escalations every five years with three, five-year renewal options. Prior to their acquisition by FMC, Quad City Kidney Center, Ltd. had a top 10 percent profit margin for all dialysis clinics in the country. The subject property is on the campus of UnityPoint Health' s Trinity Moline campus. Founded in 1997, it was the first comprehensive outpatient complex in the Quad-Cities region, and has served a health care delivery model for the future. The park-like campus was designed to create a therapeutic healing environment. The population within a five-mile radius of the subject property is 129,634. The average household income within one-mile of the subject property is $73,673.