VCA PineRidge Animal Hospital | NNN | 4 Years
Office | 6.59% CAP | 8,023 SqFt
Marketing description
TWG is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a Triple-Net (NNN) leased, freestanding, VCA PineRidge Animal Hospital investment property located in Andover, Minnesota. The Tenant, VCA “Veterinary Centers of America”, has over 4 years remaining in their extended term with 1 (one) 5-year options to extend. The lease features annual increases of 2%. The lease is a triple net with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Founded in 1986, VCA is a family of animal hospitals dedicated to creating a positive impact for pets, people, and communities. They prioritize the well-being of every pet, extending their care beyond the hospitals they operate. Each hospital takes pride in its history of excellence and its close ties to local communities. In 2017, VCA became part of the Mars family, joining forces to shape the future of veterinary care.
VCA PineRidge Animal Hospital is strategically located on Station Parkway NW. The site benefits from superior visibility via significant street frontage and a monument sign situated along Station Parkway NW. It shares this busy Andover area with businesses like Target, Dominos and Starbucks. The location benefits from the frequent street traffic of Station Parkway NW., which sees 2,070 vehicles daily. The 5-mile trade area is supported by a population of 161,007 and 40,087 daytime employees with an average household income of $122,459.
Investment highlights
• The tenant, VCA has over 4 years remaining in their extended term with 1 (5-year)
options to extend
• 2% annual rental increases throughout the initial term and option periods, steadily
growing NOI and hedging against inflation
• Founded in 1986, VCA is a family of animal hospitals dedicated to creating a positive
impact for pets, people, and communities. They prioritize the well-being of every
pet, extending their care beyond the hospitals they operate.
• In 2017, VCA became part of the Mars family, joining forces to shape the future of
veterinary care.
• Superior street visibility via significant street frontage and a large monument sign
situated along Station Parkway NW
• Strategically located off of Station Parkway NW, which averages 2,070 vehicles
passing by daily
• More than 161,007 residents and over 40,087 employees support the 5-mile trade
area
• Those within 1-mile of the subject property have an average household income of
$134,802
• Limited landlord responsibilities of foundation, and structure
• Ideal, low-management for a passive investor
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