1060 East 100 South
Salt Lake City, UT
INVESTMENT SUMMARY
CBRE, as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in the Class B, multi-tenant medical office building known as Medical Tower Plaza (MTP). MTP is prominently located on the corner of 1100 East and 100 South in the Salt Lake City CBD/Periphery submarket, directly across from one of the major hospitals in the area, Salt Lake Regional Medical Center. Sixteen different hospitals and clinics are located within a four mile radius of MTP.
The property is 94% occupied with seasoned tenants that have a historically high renewal rate.
Due diligence materials and additional information is available at:
www.medicaltowerplaza.com
INVESTMENT HIGHLIGHTS
- Seasoned rent roll with high retention rates
- The Salt Lake Office Market is projected to have one of the highest rent growth rates in the U.S.
- Scheduled rent increases
- Well located across the street from Salt Lake Regional Medical Center, a 200 bed specialized medical hospital
- The rent roll consists of a diversified mix of medical tenants (6 dentists, 3 internists, 3 therapists, 2 labs, and 1 pharmacy)
Price: $6,931,000
CAP Rate: 8.50%
In-Place NOI*: $589,150
Leveraged IRR: 20%
Acres: ±.89
Square Footage: 47,458
Price PSF: $146
Occupancy: 94%
*Assumes a 5% vacancy and a $0.25 reserve
For more information,
please contact:
Eli Mills
Senior Vice President
+1 801 869 8029
eli.mills@cbre.com
Tucker White
Vice President
+1 801 869 8034
tucker.white@cbre.com
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