INVESTMENT HIGHLIGHTS

• STABLE INVESTMENT I OPTIONS TO EXTEND – There are over 5 years remaining on the NNN lease with annual rental increases and two, 5-year options to extend.
• SCHEDULED RENTAL INCREASES I HEDGE AGAINST INFLATION – The lease features annual rental increases (the greater of 2% or CPI), providing a future owner with a boost in cash flow and a hedge against inflation throughout the life of the investment.
• HEALTHCARE REAL ESTATE I RECESSION-RESISTANT PROPERTY – Veterinary hospitals are extremely sought after investments for their resistance to downturns in the economy and e-commerce trends that affect traditional retail properties.
• TENANT INVESTMENT IN LOCATION – Veterinary hospitals rarely relocate due to difficulty retaining the same patients in a new location and the high costs associated with moving and buildouts.
• PRIME LOCATION – The ±8,531 SF veterinary hospital is located on the high-traffic corner of S Western Avenue and Westmont Drive seeing more than 52,000 vehicles per day.
• RETAIL CORRIDOR – The property is situated within a dominant retail corridor, with neighboring tenants that include Smart & Final, Wells Fargo, Chase, Rite Aid, and Albertsons. The site is also less than one mile from The Terraces of South Bay, a shopping center anchored by Trader Joe’s, Marshalls, and LA Fitness, and Park Plaza Center, anchored by Sprouts, Petco, Ross, and Office Depot.
• FAVORABLE DEMOGRAPHICS – The property is positioned within an affluent market, catering to more than 341K residents within a 5-mile radius of the site who boast an average household income of $119,000.
• COMPREHENSIVE SERVICES I MULTI-DOCTOR LOCATION – All Pets Veterinary Hospital offers a wide array of comprehensive services, including routine wellness exams, dental care, vaccinations, internal medicine, acupuncture, and cold laser therapy. All Pets Veterinary Hospital also offers daycare and overnight boarding for pets who need a comfortable place to rest while their owners are away.
• PETVET CARE CENTERS – PetVet Care Centers is one of the leading veterinary practice partners in the nation, with more than 460 general practices, specialty and equine hospitals across 40 states. Backed by private equity partner KKR since late 2017, the company supports more than 11,000 staff (including 800+ veterinarians) and has been on a rapid expansion path since inception.
• ROBUST INDUSTRY GROWTH – Globally, veterinary services generated $128 billion in 2023 and are forecasted to expand to $226–264 billion by 2032–33, with CAGR between ~7% and 7.5%.