DaVita Northwood Dialysis

Highlights:

• 20+ Year Operating History
• Recent 5-Year Extension Highlighting Tenant Commitment to the Location
• Only (1) 5-Year Renewal Remains at Below Market Rent, Providing Upside in Lease Negotiations for Future Owner
• Brand New Parking Lot Installed in 2024
• Market Rents Average $18.55/sf Providing Rental Upside at End of Lease in 2035

Description:

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Northwood is a city and eastern suburb in Wood County, Ohio, within the Toledo metropolitan area. The Toledo Metropolitan Area, or Greater Toledo is a metropolitan area centered on the American city of Toledo, Ohio. As of the 2020 census, the four-county Metropolitan Statistical Area (MSA) had a population of 646,604. It is the sixth-largest metropolitan area in the state of Ohio, behind Cincinnati–Northern Kentucky, Cleveland, Columbus, Dayton, and Akron. Located on the border with Michigan, the metropolitan area includes the counties of Fulton, Lucas, Ottawa, and Wood. The Greater Toledo area has strong ties to Metro Detroit, located 40 miles north, and has many daily commuters from southern Monroe County, Michigan. Toledo is also part of the Great Lakes Megalopolis.

Toledo is the county seat of Lucas County and the fourth-most-populous city in the state of Ohio. It is a major Midwestern port city and the principal city of the Toledo metropolitan area with a population of approximately 274,975. Its port is the fifth busiest in the Great Lakes and the 54th busiest in the United States.

The University of Toledo is influential in the city, contributing to the prominence of healthcare as the city's biggest employer. The university also operates a 450-acre Health Sciences campus including the University of Toledo Medical Center, a satellite campus in Scott Park, the Center for the Visual Arts located at the Toledo Museum of Art and a research and education facility known as the Lake Erie Center. The University has a current enrollment of over 20,000 students and has expanded to include over 100 major buildings.

The metro area contains four Fortune 500 companies: Dana Holding Corporation, Owens Corning, The Andersons, and Owens Illinois. ProMedica is a Fortune 1000 company headquartered in Toledo. One SeaGate is the location of Fifth Third Bank's Northwest Ohio headquarters. Toledo and its economy are influenced heavily by the surrounding educational institutions and the promise of the alternative energy industry, both of which rely on the area's colleges and universities. Cultural points of interest have grown with the universities, including the nationally recognized Toledo Museum of Art, the Valentine Theatre, the world renown Toledo Zoo, and the Toledo Metroparks and Imagination Station.