2 Locations For Sale

Marcus & Millichap is pleased to present The NVA Summer Street Cat Clinic Portfolio, located in Buffalo and Getzville, New York. The two single-tenant animal hospitals are 100 percent leased to the world’s largest veterinary company, National Veterinary Associates (NVA). NVA has practiced at both clinics since 2021 and has executed an early 7-year lease renewal, keeping the two five-year renewal options intact. Since COVID-19, studies show over 23 million American households include pet owners. Veterinary practices were deemed essential through the pandemic and continue to thrive as safe and secure investments. NVA was founded in 1996 and currently has over 1,500 veterinary locations across the world (U.S., Canada, Australia, New Zealand, and Singapore). NVA is majority owned by private equity firm JAB Holding Company, which has 199 years of investing experience and over $50 billion in assets under management. In total, five practicing veterinarians provide a wide range of veterinary services including dentistry, general medicine, surgery, diagnostics, specialty care, laser treatments, and more. The Buffalo Summer Street Cat Clinic began serving their community in 1981 and stands at 2,178 square feet, and the Getzville Summer Street Cat Clinic opened their doors in 1993 and stands at 2,700 square feet. Both properties offer minimal landlord obligation under the double-net (NN) lease structure with strong annual rent increases of 2.5 percent. The two facilities are located 20 minutes away from each other, offering NVA the ability to rotate veterinarians and employees when needed.