Description

Pegasus Investments Real Estate Advisory, in conjunction with ParaSell, Inc., is pleased to present the opportunity to acquire the fee simple interest in a newly constructed build-to-suit plasma collection center leased to Kedrion, one of the world’s leading plasma-derived pharmaceutical companies. Located at 2427 University Boulevard East in Tuscaloosa, the property was completed in 2023 and consists of an 11,090-square-foot state-of-the-art medical facility situated on a 2.18-acre parcel. Purpose-built to accommodate Kedrion’s specialized operational requirements, the facility reflects substantial capital investment from both the landlord and tenant, demonstrating the tenant’s long-term commitment to the location while positioning the property at the very beginning of its functional lifespan. The modern medical-grade improvements may also provide investors with significant first-year bonus depreciation opportunities, potentially enhancing after-tax investment returns. The property is secured by a long-term net lease with approximately 13 years of firm term remaining through May 31, 2039, along with an additional five-year renewal option that includes CPI-based rent adjustments. The lease structure features attractive above-market rent growth, including a 15% rental increase in Year 6 and an additional CPI-based escalation in Year 11, providing meaningful long-term income growth and inflation protection. Landlord responsibilities are limited exclusively to structural components, creating an extremely passive ownership profile with minimal operational obligations. Offered at a 7.00% capitalization rate on current in-place NOI, the investment also benefits from future rental increases that are expected to significantly enhance forward yield while maintaining strong downside protection. The lease is fully guaranteed by Kedrion S.p.A. for the entire lease term, further strengthening the credit profile through the backing of a globally recognized pharmaceutical operator with substantial industry scale and long-term operational stability.