Biomat USA

2717 West 26th Street, Erie, PA 16506

$2,810,200

Cap Rate 8.00%

Views: 88 DOM: 96 Updated: 11.02.24 Posted: 09.21.24 Status: Active

Summary

Price $2,810,200	Built/Renov 2000	Tenant Biomat USA
Cap Rate 8.00%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 12,338	Lease Start 07-03-2008	#Units 296
Price/SF $227.77	Expiration 06-30-2030	Tenant Type Medical/Health
NOI $224,816	R. Term 5.6	Ownership Fee Simple
Rent/SF $18.22	Increases 3.0%/1/yrs	Pop 5Mi 130,014
Lot/AC 1.55	Options 1/5yrs/3%	AHHI 5Mi $81,170

Lease Highlights

Biomat USA has been operating in this location since 2008
The tenant has 5+ years remaining on the current lease term with 1 (5-year) option to extend
The lease features 3% annual rental increases throughout the initial term and option periods
Corporate guaranteed lease (NASDAQ: GRFS)

Location Description

Biomat USA is strategically located on West 26th Street, with access to 19,800 vehicles passing by daily. The property also has immediate access to Interstate 79, which sees 34,300 VPD and provides a direct route south to Pittsburgh. The immediate area is surrounded by prominent national retailers, including McDonald’s, Tim Hortons, PNC Bank, Ford, Volvo, Anytime Fitness, AutoZone, and more....

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Key Features

In location for years
Near major nationals
Freeway close
Strong demographics
Major MSA
Recently extended lease
Annual rent increases
Traded and rated company
Corporate Guarantee
Over 100 Units backed

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Links

Biomat USA Wikipedia Erie, Pennsylvania Zip Code 16506 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Biomat USA
Guarantor:Corp T and Rated
Company:Grifols, SA
# Units:296
Tenant S&P: B
Stock: NASDAQ: GRFS

About Tenant

Biomat USA specializes in the collection of plasma to create life-saving plasma-derived medicines. Biomat operates plasma donation centers where donors contribute plasma, which is later...

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Listing Broker

Jimmy Goodman

The Boulder Group (HQ)

Contact

168 Listings
18781 Views
65 Sold

Brian Brockman

Bang Realty, Inc

Contact

29 Listings
2495 Views
1 Sold

Jimmy Goodman

Goodman is a partner at The Boulder Group, with over 15 years of experience in the investment real estate sector. His career began at PricewaterhouseCoopers in 2001 and afterward, he has been solely focused on investment real estate. He has been featured in multiple publications including Globe Street, Commercial Property Executive, Real Estate Forum and was a featured speaker at Real Share’s Net Lease Conference. He is a member of the International Council of Shopping Centers and received a Ba

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Brian Brockman

Brian is one of only a handful of real estate brokers who is licensed in all 50 states and the District of Columbia. Brian is also one of a few auctioneers licensed throughout the country and has sold real estate via online auctions across the United States. Now, Brian is using his national real estate experience to help facilitate transactions for other commercial real estate brokers across the county. Brian has over 15 years in asset management experience and has sold properties for investo

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