Single Tenant Innovative Renal Care

Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to Innovative Renal Care, (the “Property”) in Gary, IN a city within the Chicago MSA, just twenty-five miles southeast of downtown Chicago. The building was especially built for Innovative Renal Care (formerly American Renal Associates (ARA)) who signed a 15-year lease with 2% annual increases in 2018. The 2% annual increases, which provide a hedge against inflation, continue through the two, five-year options. The lease is 50.1% corporately guaranteed by American Renal Associates LLC and 49.90% guaranteed by a network of five doctors within the practice. The roof is just 8 years old on the Fee Simple NN lease. The Tenant reimburses the Landlord for Taxes, Insurance and Operating Expenses. The property is positioned along W 25th Avenue with strong visibility to local traffic flows and benefits from immediate access to Exit 9 of the Frank Borman Expressway (I-80/I-94), one of the primary east-west and regional commuter corridors in Northwest Indiana, supporting approximately 181,900 vehicles per day.

Positioned within a densely populated healthcare corridor, serving more than 122,000 residents and 49,000 households within a five-mile radius, the property profits from close-in access to two significant regional demand drivers, including Methodist Hospitals Northlake Campus, a full-service acute care facility with approximately 441 staffed beds located less than two miles away, as well as Indiana University Northwest, a regional higher education institution with roughly 3,200 students and over 300 faculty and staff. The substantial surrounding population and close proximity to major, nearby hospitals supports long-term demand for kidney care services, enhances the tenant’s ability to maintain patient volumes, and provides investors with increased confidence in the facility’s operational stability and long-term viability. Currently, the property serves a mature and demographically favorable patient base, with residents aged 55 and older comprising 35.7% of the population within one mile, 31.5% within three miles, and 30.0% within five miles, well above the national average of approximately 25%.