Stan Johnson Company Brokers 1031 Exchange Sale of Fresenius Medical Care in Arizona for $9.5 Million

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 13,416-square-foot medical property leased to Fresenius Medical Care. The dialysis facility is located at 450 South Gilbert Road in Phoenix, Arizona. An individual 1031 exchange buyer based in New Jersey purchased the asset for $9.5 million, reflecting a 5.01 percent cap rate. The buyer was represented by Jason Maier of Stan Johnson Company. The seller was a Southlake, Texas-based developer.

“The buyer was putting together a portfolio and was seeking diversification,” said Maier, Senior Director in Stan Johnson Company’s New York office. “Arizona is a tremendous growth market with a significant amount of medical office development. And while there are some great operators in the medical space, very few have investment grade credit. We were able to justify the compressed cap rate due to the strong lease guarantee combined with the property’s new construction and overall quality of the real estate.”

The build-to-suit facility was constructed on 2.01 acres in 2019 and is in close proximity to three major hospitals including Mercy Gilbert Medical Center. The asset features a long-term net lease with annual increases.

View Profile
About Stan Johnson Company:

Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm and its affiliates provide acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $40 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services.