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, Tuscaloosa, Alabama (the “Property”). Completed in 2023, the 11,090-square-foot facility sits on a 2.18-acre parcel and was purpose built to meet Kedrion’s specialized operational requirements. Both landlord and tenant invested substantial capital into the development, underscoring Kedrion’s long-term commitment to the site and positioning the Property at the beginning of its useful life. The modern, medical grade buildout also offers investors the potential for meaningful first year bonus depreciation benefits, enhancing after-tax returns.
The Property is leased on a long-term net basis with 13 years of firm term remaining through May 31, 2039, plus a five-year renewal option with CPI-based rent growth. The lease structure provides for above market rental increases, including a 15% rent escalation in Year 6, and a CPI-based increase in Year 11. The landlord’s responsibilities are limited solely to structural components, resulting in an extremely passive ownership profile. Offered at a 7.00% cap rate on in-place NOI, the upcoming rent increase meaningfully enhances future yield while maintaining strong downside protection. The lease is fully guaranteed by Kedrion S.p.A. for the entire term, providing exceptional credit security from a globally scaled pharmaceutical operator.