95 Declaration Dr

• National Healthcare Anchor – Anchored by PhyNet Dermatology, one of the nation’s largest dermatology MSOs, supporting 100+ affiliated practices and 280+ physicians and providers across 18 states.
• Long-Term Anchor Tenancy – PhyNet occupies approximately 55% of the building on a NNN lease and generates approximately 73% of scheduled base rental income, with a lease extending through October 2032 and two five-year renewal options.
• Complementary Tenant Mix – The property combines dermatology, therapy, insurance, and other professional services, providing multiple sources of rental income within a healthcare-anchored office setting.
• Built-In Rental Growth – PhyNet’s lease features 3% annual rental increases, while select supporting tenants have scheduled rent increases, providing contractual income growth.
• Strategic Location – Located within North Chico’s established Philadelphia Square professional office complex near Esplanade and Eaton Road, the property offers convenient access to Highway 99 and surrounding Chico communities.
• Attractive Price Per Square Foot – At a price per square foot of $188, the property is priced below replacement cost further enhancing downside protection and long-term investment stability.
• Value-Add Potential – Upcoming lease expirations among smaller tenants provide opportunities to renegotiate rents, extend lease terms, and improve expense recovery.