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Banfield Pet Hospital
4209 Northwest 37th Place, Gainesville, FL 32606, USA
Sands Investment Group is Pleased to Present For Sale the Banfield Pet Hospital NNN Asset Located in Gainesville, Florida. This opportunity includes a corporate lease with Medical Management International, Inc., having 1,000+ locations across the U.S., Mexico, and Puerto Rico.
- Freestanding single-tenant medical office with ample parking and patient accessibility
- Medical Management International, Inc. (d.b.a. Banfield Pet Hospital) is currently in year 6 of its initial 10-year lease term, with three 5-year renewal options remaining
- Banfield Pet Hospital is one of the largest veterinary care providers in the U.S., generating an estimated $1B in revenue
annually - Banfield is a wholly-owned subsidiary of Mars, Incorporated, a global leader in pet care, which owns other well-known veterinary and pet care brands such as VCA and BluePearl Veterinary Partners
- Corporate lease from Medical Management International, Inc., with 1,000+ locations across the U.S., Mexico, and Puerto Rico
In Cooperation With SIG RE Services, LLC – Lic. #CQ1055229 BoR: Andrew Ackerman – Lic. FL #BK3369953
Banfield Pet Hospital
4209 Northwest 37th Place, Gainesville, FL 32606, USA
BANFIELD HOSPITAL
Banfield Pet Hospital was founded in Portland, Ore. in 1955 and today is a pioneer in preventive veterinary care with more than 1,000 general veterinary hospitals in 42 states, Washington D.C., Puerto Rico, and Mexico. Every year, Banfield’s veterinary teams provide high-quality veterinary care to over three million pets, including more than 2 million Optimum Wellness Plan clients. As part of the Mars Veterinary Health family of practices, Banfield’s more than 19,000 Associates nationwide are committed to positively impacting society through the Banfield Gives Back program and advancing veterinary medicine in service of our purpose — A BETTER WORLD FOR PETS® — because pets make a better world for us.
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Price
$2,357,142
Cap Rate
7.00%
PREMISES
5,688 SF
RENEWAL OPTIONS
Three 5-Year Options
Lease Expiration
06/30/2029
Lease Type
NNN
RENTAL INCREASES
5% at Each Option
BROKERS
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Sands Investment Group (“Broker”) is presenting for sale the Subject Property (“Property”) referenced above, by the Property’s owner (the “Owner”). Our agreement with the Owner requires that we obtain a Non-Disclosure before disclosing the name and location of his/her location of his/her business. The undersigned (“Recipients”) hereby acknowledge and agree that certain confidential information that has been or may be disclosed is intended solely for Recipients’ limited use in considering whether to pursue negotiations to acquire the Property.
Neither the Owner of the Property nor Broker or any of their respective officers, employees or agents, make any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential information and no legal liability is assumed or shall be implied with respect thereto. Information provided has been or will be gathered from sources that are deemed reliable; however, neither Owner nor Broker warrants or represents that the information is true or correct. Recipients are advised to verify information independently. Owner and/or Broker reserve(s) the right to change the Property’s purchase price, or any Property or market information provided, or to withdraw the Property from the market at any time without notice.
Recipients agree that the information provided by Broker is confidential and as such, agrees to hold and treat such information in the strictest of confidence. In addition, Recipients agree not to disclose, directly or indirectly, or permit anyone else to disclose this information to any person, firm or entity without prior written authorization of Owner or Broker and not use, or permit to be used this information in any fashion or manner detrimental to the interests of Owner or Broker. Photocopying or other duplication of such confidential information is strictly prohibited. Recipients agree not to contact the Property’s tenant(s), leasing brokers, or property management staff in connection with Recipients’ review of the Property or confidential information. IN ADDITION, THE CONFIDENTIAL INFORMATION SHALL NOT BE DEEMED AS REPRESENTATIVE OF THE STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OR PREPARATION OF THE OFFERING MEMORANDUM.
While Owner and/or Broker may discuss the purchase and sale of the Property with Recipients, either Owner or Broker, in our sole and absolute discretion, may terminate sale discussions at any time and for any reason. Recipients acknowledge that neither Owner nor Broker has any obligation to discuss or agree to the sale of the Property. The acquisition discussions may be lengthy and complex. Notwithstanding that the parties may reach one or more oral understandings or agreements on one or more issues, neither of the parties shall be bound by any oral agreement of any kind, and no rights, claims, obligations or liabilities of any kind, either expressed or implied, shall arise or exist in favor of or be binding upon either Owner or Broker except to the extent expressly set out in a written agreement signed by both Owner and Broker.
This letter will further confirm that Recipients understand that Broker is presenting the information on the above-referenced Property and that Recipients agree that all initial correspondence and agreements pertaining to the opportunities and subsequent purchase shall be submitted through Agent. Prospective Buyer shall not contact the Owner directly unless given written permission by Agent or act either directly, indirectly, through any third parties including affiliates, other clients or other brokers to circumvent the purpose of this Agreement.
The term of this Agreement is for one (1) year from the date below, which shall be automatically extended through any ongoing negotiations, escrow periods or closing of any purchase and sales transaction(s) for the opportunity entered into by Prospective Buyer or its affiliates during the term hereof.
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