Fresno Healthcare Deal Breaks Pricing Record

A RadNet Imaging Center in Fresno has traded hands for $418 per square foot, making it the highest price per square foot sale in Central California over the past 22 months. The sales price equates to a 6.3% cap rate.

Located at 6191 N Thesta St. in Fresno, the property is a freestanding imaging facility leased by RadNet Imaging, the largest imaging operator in the country. RadNet Imaging operates 323 locations across the country and has a current market cap of $661M. The facility, which was built in 1986, consists of 14,470 square feet and has a 4.5-year lease term remaining on it.

Matthews Real Estate Investment Services were the listing agents for the property were associate of healthcare Kyle Mackulak, senior associate of healthcare Rahul Chhajed, and assistant VP and director of healthcare Michael Moreno.