721 W 1st St
Tustin, CA 92780
DaVita Dialysis | Tustin, CA · Office Property For Sale

This is a rare opportunity to acquire a trophy infill property located in Orange County, CA. The lease is corporately guaranteed by DaVita Healthcare Partners, Inc. DaVita (S&P: BB) is a Fortune 500 company that provides a variety of healthcare services to over 1.7 million patients nationwide through its operating divisions including dialysis. There are nearly eleven (10.9) years remaining on the lease term, plus three (3), five (5) year options. The lease provides for above market 2.5% annual rental increases including through option periods. This property is located in The Downtown Commercial Core Specific Plan (DCCSP), which sets a planning and regulatory framework to attract more patrons to support and strengthen businesses in Old Town through shopping, dining, and entertainment opportunities to foster community interaction and pedestrian activity. The lease structure is double net (NN), with minimal landlord responsibilities. Tenant is responsible for HVAC, maintaining CAM and parking, and payment of all taxes, utilities, and insurances. There are 36,726 residents located in the one (1) mile demographic ring. The average household income in the five (5) mile demographic ring is an affluent $109,647. DaVita Dialysis is situated in a freeway-adjacent location and has strong frontage on W First St. & N Myrtle Ave. Interstate 55 and W First St. report combined traffic counts of 302,000 cars per day. DaVita Dialysis is strategically located within three (3) miles of eight (9) hospitals and medical centers, implying a built-in customer base. The subject property is located just 5 miles (7 minutes) away from Tustin Legacy, a 1,600 acre master planned community that is currently underway. It features office, retail, mixed use and residential properties as well as schools and parks. Tustin is recognized as one of the best places to live and do business due to the combinations of: ample housing, economic opportunity, entertainment options, quality education, safe streets, and sense of community. John Wayne Airport, Orange County (SNA) served over 10.6 million passengers in 2018 and is located just 5 miles (7 minutes) from the subject property.