Shaw's Cove Five - DaVita Dialysis Anchored
Medical & Professional Office | 9.29% CAP | 37,026 SqFt
Marketing description
Marcus & Millichap is pleased to present the DaVita Dialysis Anchored - Shaw’s Cove Five, a signature Medical and Professional Services property, located at 5 Shaw’s Cove, New London, Connecticut. The asset is a premier property in the Shaw’s Cove Master Planned office park, in downtown New London overlooking the marina and the Thames River. It is a 37,475 SF, 87% occupied multitenant office property built in 1987 with a unique, highquality primarily medical tenant mix. The major tenant, DaVita, occupies over a third of the building and has an investment grade credit rating of BBB- (S&P). The remainder of the building is occupied by medical tenants and other professional service offices including Government Agencies. The majority of tenants have occupied the building through multiple renewal options.
Investment highlights
- 87 Percent Occupied Multitenant Medical Office Located in New London MSA | ECommerce and Recession Proof Tenant Mix, Added Value Through Lease Up
- 37,475 Square Feet | 2.13 Acres | Major Tenants Include DaVita, Columbia Dental, and Hanger Prosthetics
- DaVita has a Investment Grade Credit Rating of BBB- (S&P) | 10 Plus Year Historical Occupancy
- Low Basis Entry Point with Staggered Lease Rollover | Rare Opportunity to Acquire Signature, Multitenant Office with Medical and Credit Tenants at Near Full Occupancy
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