1150 N BISHOP AVE Dallas TX 75208-4167 APN: 00-33630-M00-23A-0000

Property History

Property Type

Office

Property Subtype

Medical Office

Marketing Description

The subject property is a ±14,445 SF Fresenius Kidney Care dialysis clinic and Dallas Nephrology Associates (DNA) doctor’s office. ±9,830 SF are dedicated to the clinic and ±4,615 SF are dedicated to the doctor’s office. Fresenius Medical Care signed a 10-year, absolute net, corporate guaranteed lease renewal which has an expiration of September 30, 2030. Dallas Nephrology Associates has executed a 5-year lease renewal, extending its lease to September 30, 2025. Both the clinic lease and doctor's office lease call for favorable increases of 2.0% annually. For more than 100 years now, Fresenius has been working to save lives and improve the quality of life of its patients. Fresenius is a premier renal healthcare company completing more than ±50 million dialysis treatments per year worldwide and has an industry leading network of more than 3,994 clinics across 100+ countries. DNA is a premier kidney disease, hypertension, transplants and complicated electrolyte disorder health company with nearly 50 years of health care leadership, serving more than 80% of Dallas County Chronic Kidney Disease (CKD) patients, and has an industry leading network of more than 95 physicians, 32 locations in the DFW area, and 1st and 3rd largest cities in Puerto Rico; San Juan & Mayaguez.

Located in the heart of Dallas within the Oak Cliff suburbs, this property is in a prime location and is highly accessible from nearby neighborhoods as well as from the surrounding Interstates 30 and 35E. With a combination of suburban exposure and proximity to major arterial roads and highways, this site features excellent visibility, convenience, and exposure to high traffic counts in a major metropolitan area. The building is adjacent to a major pocket of retail development, including national businesses such as Domino’s Pizza, Jimmy John’s, Subway, Papa John’s, Walgreens, and 7-Eleven. Additionally, the clinic is located just blocks away from the Methodist Dallas Medical Center, which holds over 550 hospital beds and is home to 250+ physicians – making it one of the largest medical centers in the Dallas/Fort Worth MSA. With such proximity to a major hospital, the clinic operates in short distance from numerous other medical office buildings in a high-demand growth corridor for medical practices, which is already home to The Liver Institute, Woman’s Specialty Center, DFW Vascular Group, Consultants in Pulmonary Disease, Kessler Pediatrics, Dallas Internal Medicine Associates, Advantage Healthcare Systems, Dallas Eye & Ear, and Advantage Health & Beauty.

Investment Highlights

FRESENIUS 10 YEAR RENEWAL EXPIRES SEPTEMBER 2030
CORPORATE GUARANTY SECURED BY FRESENIUS
CLINIC OCCUPIED BY INVESTMENT GRADE TENANT AND DOCTOR’S OFFICE OCCUPIED BY ONE OF THE LARGEST NEPHROLOGY PRACTICES IN TEXAS
ESSENTIAL DIALYSIS OUTPATIENT SERVICE
DISASTER RESISTANT INVESTMENT
ATTRACTIVE RENT GROWTH OF 2.0% ANNUALLY DURING THE RENEWED LEASE TERM FOR BOTH CLINIC AND DOCTOR’S OFFICE
CENTRALLY LOCATED WITH CONVENIENCE TO INTERSTATE 30
CLOSE PROXIMITY TO HOSPITAL AND NUMEROUS MEDICAL OFFICES
HEALTHCARE RELATED REAL ESTATE HAS BEEN THE LEAST AFFECTED BY E-COMMERCE
GOVERNMENT FUNDING HEALTHCARE UNDER THE MEDICARE ESRD PROGRAM
EXCELLENT ACCESS AND LOCATION
STRONG MEDICAL DEMOGRAPHICS
DALLAS FORT-WORTH MSA HAS STRONG MEDICAL DEVELOPMENT AND ROBUST ECONOMIC GROWTH

Loan History

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Financial History

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Net Operating Income

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Reporting Date

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Tax History

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Contact Information

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