Monday, December 22, 2014

PARENT COMPANY: Fresenius Medical Care North America (FMCNA) is the leading provider of dialysis services and products to more than 166,000 patients suffering from Chronic Kidney Disease in North America.  FMCNA is a division of Fresenius Medical Care AG & Co. KGaA (NYSE: FMS) which is the world’s largest integrated provider of dialysis services and products.  Headquartered in Germany, the parent company has a net worth of $9.11B and reported $13.6B in sales in 2013

GUARANTOR: Guaranteed by Fresenius Medical Care Holdings, Inc. which is the primary holding company for Fresenius’ North American operations

MARKET: Baton Rouge is the state’s capital and also serves as major industrial, medical, research and technology center.  With a current MSA population of 820,159, Baton Rouge is the second largest city in the state

LONG-TERM NET LEASE: 8 years or primary lease term remaining with three 5-year renewal options

LONG-TERM NET LEASE: 8 years or primary lease term remaining with three 5-year renewal options

INITIAL TERM RENT ESCALATIONS: ±0.75% rent increase in November 2018 with annual 0.75% rent increases beginning in January 2020

INITIAL TERM RENT ESCALATIONS: ±0.75% rent increase in April 2016 with annual 0.75% rent increases beginning in January 2018

EARLY LEASE EXTENSION: Fresenius agreed to extend the lease by an additional 4+ years in October 2012 signaling their long-term commitment to this location

EARLY LEASE EXTENSION: Fresenius agreed to extend the lease by an additional 6.75 years in October 2012 signaling their long-term commitment to this location

BUILD-TO-SUIT: The property was originally constructed as a build-to-suit for Fresenius Medical Care in 2008

BUILD-TO-SUIT: The property was originally constructed as a build-to-suit for Fresenius Medical Care in 2006

LOCATION: Property is ideally positioned on hard corner of Howell Blvd and 72nd Ave just 0.3 miles from I-110 (Traffic Count: 56,890 VPD), immediately adjacent to YMCA and just south of Champion Medical Center, a new 25,000-SF specialized surgical hospital that opened in January 2014

LOCATION: The property is ideally positioned on the hard corner of North Foster Drive and Jackson Avenue just 2.0 miles from Interstate 110 (Traffic Count: 56,890 VPD)

DOMINANT RETAIL & COMMERCIAL CORRIDOR:

Approximately 1.7 MSF of retail and 1.3 MSF of industrial space within a 3-mile radius

DOMINANT RETAIL & COMMERCIAL CORRIDOR:

Approximately 7.8 MSF of retail, 6.2 MSF of office and 6.0 MSF of industrial space within a 3-mile radius