Pathway Vet Alliance
Culver City, CA

Pathway Vet Alliance

9599 Jefferson Boulevard, Culver City, California 90232

Investment Highlights

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Description

The Wine Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, corporate signed, Pathway Vet Alliance investment property located in Culver City, California (Los Angeles MSA). The tenant, Pathway Vet Alliance LLC, recently signed a brand new 10-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features rare 3% annual rental increases during the initial term, and fair market rental increases in the options, steadily growing NOI and hedging against inflation. The lease is NN with landlord responsibilities limited to maintaing the roof, structure, and landscaping, making this an ideal, low-management investment opportunity for a passive investor. The lease is guaranteed by Pathway Vet Alliance, LLC, a nationwide veterinarian practice with over 390 locations. This offering represents a rare opportunity to acquire a single tenant animal hospital trophy asset within a dense, infill trade area with high barriers for new development. 

Location

Access Specialty Animal Hospital is located on the signalized, hard corner intersection of Jefferson Blvd and Duquense Ave, featuring a combined 47,600 vehicles passing by daily. The property features significant street frontage, with multiple monument signs, allowing for excellent visibility to the surrounding traffic. The site is surrounded by numerous multifamily housing complexes including Lakeside Village Condominiums (530 units), Raintree Townhomes (230 units), The Village Green (627 units) and more, providing a nearby. direct residential consumer base from which to draw. The property is located less than 2 miles from Interstate 10 (296,000 vehicles per day), a heavily traveled cross-country highway serving Los Angeles and the greater Southern California area. Nearby national/credit tenants include Target, Ross Dress For Less, Trader Joes, Chick-fil-A, LA Fitness, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover exposure for the tenant. Moreover, the sire is located near Kaiser Permanente West Los Angeles Medical Center, a 351-bed healthcare facility that was named a “Top Hospital” by the Leapfrog Group in 2013. The 5-mile trade area is supported by a dense population of over 871,000 residents and 663,000 employees with an affluent average household income of $120,082.

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