Major Tenants: DaVita Kidney Care (Total Renal Care, Inc.), Allegheny Valley Hospital (Allegheny Health Network), First National Bank, Axiom Family Center, Southwestern Behavioral Care, Inc. (SPHS), Sunnyside Medical Cannabis Dispensary (Cresco Labs)
92% Occupied, 26,351 SF Four-Building Medical & Retail Offering in New Kensington, PA (Pittsburgh MSA)
Anchored by DaVita Kidney Care & Allegheny Health Network (AHN) (Combined 36% of GLA) – Prominent Multi-Billion Dollar Healthcare Organizations
DaVita (21% of GLA) is Leased thru July 2026; Over $1.2M Invested by Tenant in Build-Out with 8 Hemodialysis Stations; Large 13.6% Rent Increase in Upcoming Option
AHN (15% of GLA) – New 5-Year Lease with Over $1.1M Invested by Tenant in Build-Out; Relocation from Former Hospital in City and Offers Urgent Care, Imaging, Cardiovascular Testing, and More
Cheap/Replaceable Rents Averaging $11.57/SF Gross
Freestanding First National Bank (FNB) Branch Included in Sale – Separately Parceled with Strong Deposits of $63 Million; Headquartered in Pittsburgh with Strong Local Market Share
FNB has Below-Market Rent (Only $24K Annually) and No Options Remaining; Opportunity for Significant Value-Add Via Extension and Rent Increase
Offers In-Place Year 1 Cash-on-Cash Return of 9.5% and Year 1 Total Return of 14.9% at 4.25% Interest Rate, 70% LTV Bank Financing Terms
Upside via Lease-Up of 2,138 SF Vacancy – Could Add $21,000 to NOI if Leased at $10/SF Gross; Would Take Cap Rate to 8.2% at List Price
Sunnyside Cannabis Dispensary (11% of GLA) – Freestanding Building with Over $600K Invested by Tenant in Build-Out and Security Features; Retail Brand of Cresco Labs, a 50+ Unit National Producer and Retail Operator with 10 Other Locations in Pennsylvania
Multiple Break-Up Opportunities – DaVita & AHN Fully Occupy Same Building and are a Prime 2-Tenant Medical Investment; Freestanding First National Bank, Freestanding Sunnyside Dispensary
Building 3 is Leased to Two Complementary Regional Family, Mental Health & Addiction Counseling Organizations (Axiom & SPHS); Both have Multiple Facilities throughout Western PA
Offering Includes Approx. 30 Covered Parking Spaces Located Below City-Owned Garage – City is Responsible for All Garage Maintenance
Dense Demographics – City Center Location with 10,000 Residents in the Immediate One-Mile Radius; 75,000 Residents within Five-Miles
New Kensington is Experiencing Renewed Investment into Downtown Area – $7M+ Invested in New Gov’t + PennState Partnership Facilities with Workforce Technology Training, Co-Working Space, and Small Biz Incubator Program
Pittsburgh, PA MSA – Home to a Population of 2.4 Million and a Robust Economy with Major Employers Including PNC, Alcoa, PPG, US Steel, UPMC, AHN, Highmark, Westinghouse, Dick’s Sporting Goods, Giant Eagle, and More