Industry Leader: DaVita Dialysis Closing

Lancaster, PA, June 12th, 2023 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced the sale of DaVita Dialysis, a 8,760-square-foot Net-Leased property located at 1412 East King Street, Lancaster, Pennsylvania, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $2,824,076.

Derrick Dougherty, Colin Reder, and Scott Woodard, investment specialists in Marcus & Millichap’s Philadelphia office, had the opportunity to represent a 1031 exchange buyer in the acquisition of this investment opportunity. "DaVita Dialysis presented our investor with an incredible opportunity to acquire a medical net lease property with long term roots in the submarket and a corporately backed credit tenant," said Colin Reder. 

"The close proximity of this site to downtown Lancaster and its designation as one of Pennsylvania's top-ranked places to live enhanced this asset’s value and appeal," said Colin Reder. Lancaster has a growing economy with a close proximity to major cities, such as Philadelphia, Baltimore, and Washington D.C.

"Throughout the sale process, the seller and buyer worked well together with open lines of communication and consistent proactive actions. It was a pleasure working with everyone involved and building our client’s net-lease portfolio," said Scott Woodard.

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About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.