Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Attributes

Year Built 1979
Lease Type NN
Lease Expiration 2030-07-31
Remaining Term 9 years, 10 months
Tenant Midwest Veterinary Partners LLC
Building Area
Land Area

Property Description

Jones Lang LaSalle Americas, Inc ("JLL") is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to Phoenixville Animal Hospital (the “Property”) in Phoenixville, PA. The full-service veterinary hospital is an essential business and has been open during the COVID-19 pandemic. They have been treating pets for over thirty (30) years, demonstrating a true commitment to the area, and recently signed a ten (10) year Lease which includes 2% annual increases, inclusive of their two (2), five (5) year options. Phoenixville, an affluent borough in the Philadelphia MSA, with a $133,000 average household income within a five-mile radius of the property. It is located in Chester County – the 7th largest county in Pennsylvania by population – and is just 28 miles from the city of Philadelphia.

Investment Highlights

  • Phoenixville Animal Hospital has been treating pets for over 30 years and recently signed a ten (10) year extension, with 2% annual increases, demonstrating commitment to the area. 
  • Mission Veterinary Partners, the parent company of Phoenixville Animal Hospital, has a total revenue approaching $100 million, and has more than tripled their number of hospital locations, team members and number of states in which they’re located since 2017. 
  • Phoenixville Animal Hospital has excellent accessibility, as it is ideally located on W Bridge Street (7,200 VPD) and is strategically located close to major roadways such as PA-23 (25,000 VPD) and PA-113  (13,000 VPD).
  • The Property is located in Chester County – the 7th largest county in Pennsylvania by population – and is just 28 miles from the city of Philadelphia; Philadelphia is home to an MSA that contains approximately 6 million permanent residents.  
  • The University of Valley Forge, Phoenixville Senior High School, Phoenixville Area Middle School and Manavon Elementary School are all within 2 miles of Phoenixville Animal Hospital and boast over 3,700 students combined.
  • The Phoenixville Animal Hospital is an essential business that has been and is currently open during the COVID-19 pandemic. 
Last Updated Date: 11 Sep 2020
Marc Mandel
Marc Mandel
Managing Director, Capital Markets
License details
PA - AB068236 DE - RS-0019936 NJ - 0894218
Steve Schrenk
Steve Schrenk
Director, Capital Markets
License details
NJ-1433421

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Last Updated Date: 11 Sep 2020

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