Ciscowil Expands its Medical Retail Holdings
Ciscowil LLC has completed its purchase of 102 Grand Seasons Dr, Waupaca, WI, 100% occupied with four in-place tenants in the medical sector. The largest tenant in the 12,450 sf building is a Fresenius Medical Care location, the German healthcare company providing kidney dialysis services through a network of 4,171 outpatient dialysis centers, serving 345,000 patients. Remaining tenants are an orthopedic and sports institute; a HearingLife facility with 600+ locations nationwide; and a non-profit community long-term care facility with offices in 15 Wisconsin counties. The property is ideally suited off a highway off-ramp, next to a Ramada by Wyndham, with a combined traffic count of over 35,000 vehicles per day.
This acquisition expands Ciscowil’s holdings in the medical sector, with additional tenants in urgent care and dental facilities. Medical retail sector is one of fastest growing and most desirable sectors in commercial real estate. “In 2008, only 1.5 percent of retail occupancy was medical, growing to 2.3 percent in 2013 and to 2.9 percent in 2018. Medical tenants in retail properties now represent 150 million square feet of inventory.” (NAIOP, the Commercial Real Estate Development Association)