Fresno, CA – Matthews Real Estate Investment Services™, the nation’s fastest-growing commercial real estate company arranges the sale of a RadNet Imaging Center in Fresno, California for over $6M. The listing agents for the property were Associate of Healthcare Kyle Mackulak, Senior Associate of Healthcare Rahul Chhajed, and AVP & Director of Healthcare Michael Moreno.
The net-leased property located at 6191 N Thesta St. in Fresno, CA is a freestanding imaging facility leased by RadNet Imaging, the largest imaging operator in the country. RadNet Imaging operates 323 locations across the country and has a current market cap of $661M. The facility, which was built in 1986, consists of 14,470 square feet and has a 4.5-year lease term remaining on it. The building sold for a cap rate of 6.30% at $418 per square foot, making this sale the highest price per square foot transaction for a medical office building in Central California over the past 22 months.
The healthcare property benefits from being well-positioned in a highly dense medical and retail corridor consisting of national and local tenants, shopping centers, and universities. The property is situated off the Yosemite Freeway, which boasts daily traffic counts exceeding 110,000. It is only two miles away from the Saint Agnes Medical Center. Surrounding tenants include Valley Weight Control Center, San Joaquin Valley College, Critical Care Consultants, and Advanced Pain Solutions. The location of the asset makes it a strong healthcare investment with a stable long-term outlook.
“We were able to successfully source the buyer through our marketing process and guide the transaction from start to finish. Our shared database allowed us to reach a large range of potential investors, find the best buyer, get an aggressive price, and execute the first time we went under contract,” said Associate of Healthcare Kyle Mackulak. “In the end, the buyer was able to secure an extremely well-positioned healthcare property tenanted by the largest imaging operator in the country, which aligned perfectly with their goal of acquiring a well-placed healthcare asset.”
For more information regarding the sale of the RadNet Imaging Center at 6191 N Thesta St. or if you have any questions related to healthcare real estate investments, please do not hesitate to reach out to Kyle Mackulak, Rahul Chhajed, and Michael Moreno. To view current listings, please visit www.matthews.com.
Matthews Real Estate Investment Services™ is recognized as an industry leader in Shopping Centers, STNL, Multifamily, Leasing, Management, Portfolio Disposition and 1031 Exchange programs. The firm is headquartered in El Segundo, CA and serves clients throughout the United States and Canada. For more information, please visit www.matthews.com.