2501 Reed St
Philadelphia, PA 19146
Davita/Bethanna · Retail Property For Sale

CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this Davita/Bethanna property located on Reed Street in Philadelphia, PA. Davita has been operating here since 2017 and has over 9 years remaining in its initial lease term. It also has 12% rental increases throughout the base term of the lease and 7.5% increases in each of the options. DaVita’s lease is corporately guaranteed by DaVita Inc., a publicly traded Fortune 500 rated “BB” by Standard & Poor's. Bethanna has been operating here since 2017 and has 13 years remaining in its initial lease term. Bethanna, a Christian based nonprofit organization, was established and has been successfully operating in the Philadelphia area since 1934. The subject property was recently gut renovated including all new systems: roof, HVAC, parking lot and completely new interior fit outs for each tenant making this a passive investment property for the foreseeable future. DaVita’s sevenfigure investment into the fit out of the property shows a strong commitment to this location and illustrates their belief in the success of this dialysis unit. This 100% occupied two tenant building sits at the hard corner of Reed Street and S 25th Street with excellent access and visibility and will experience tremendous foot traffic based on the sheer density within a few blocks. This is an infill urban location with 68,111 people within 1 mile, 453,321 people within 3 miles and 870,251 people within 5 mile. It is situated in Point Breeze/Grays Ferry, one of the fastest growing neighborhoods in Philadelphia due to the availability of affordable housing, as well as its proximity to the downtown central business district and University City, which is home to several major universities and medical networks. The recent explosion of new residential and commercial development in close proximity to the subject property, including the Dollar Tree directly adjacent, also illustrate the upward trajectory and growth in this submarket. The site is also situated in the middle of several nearby hospitals that include Mercy Health Hospital, Methodist Hospital, University of Pennsylvania Hospital and Children’s Hospital of Pennsylvania.