Listing #19-715

1236 Ahtanum Ridge Dr
Union Gap, WA

  • Built: 2004
  • Square Feet: 11,528
  • Lot Size: 1.35

THIS OFFERING is for the opportunity to acquire a two-tenant net leased investment anchored by DaVita, who the building was originally constructed for in 2004 on a build-to-suit basis (and expanded onto in 2017, at which time the DaVita lease was extended for 10 years). DaVita occupies 65% of the building and is paying below market rent. Their lease provides for annual CPI escalations not to exceed 3% and provides for the ability to pass through operating expenses of a capital nature. Additionally, they're committed to this location given that Washington state is a Certificate of Need state and the dialysis stations are tied to this specific property, which in turn shifts considerable leverage to the landlord. The balance of the building is finished as traditional office space,

Listing courtesy of Almon Commercial-Residential Real Estate

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