|OFFERS DUE: WEDNESDAY, JANUARY 10, 2018
Surprise Medical Plaza at The City (the “Property” or “Building”) is a 90% leased multi-tenant medical building that is conveniently located in Surprise, Arizona, a high-growth area located 20 miles northwest of downtown Phoenix. The Property, consisting of approximately 34,030 square feet, is strategically located near several medical centers in the Northwest Valley of Phoenix, including the 404-bed Banner Del Webb Medical Center, located 3 miles to the north, and the 425-bed Banner Boswell Medical Center, located 5 miles southwest of the Property.
The Property is being offered as a fee-simple investment with an initial Net Operating Income of $772,827, fixed annual rental escalations of 2.5% – 3.0% and a Year-2 Pro-Forma Net Operating Income of $880,635. Recently completed in 2012, Surprise Medical Plaza is an exceptional opportunity to acquire a net-leased investment occupied by dominant leading healthcare providers that offer comprehensive care to the residents of northwest Phoenix. Furthermore, Banner CORE Center for Orthopedics recently executed a 10-year lease and will occupy the Building upon completion of the tenant improvements, which is estimated to be January 2018.
Surprise Medical Plaza offers patients comprehensive care with best-in-class healthcare providers in one location, including neuroradiology, nuclear medicine, pediatrics, radiology, women’s health, physical therapy, and family practice, as well as the convenience of an on-site lab and imaging center.
Surprise Medical Plaza is anchored by Banner Health (59%), Fitch rated ‘AA-‘, as well as Banner CORE Center for Orthopedics (13%) and Affiliated Dermatology (18%).
The City at Surprise is a 756-acre master planned urban area (the “The City”) with a general plan to develop, medical offices, restaurants, shops, hotels, entertainment options, residential dwellings and a four-year university. The population of Surprise has grown by 330% since the 2000 census. In order to accommodate the rapid growth in the area, a number of new residential and commercial projects are currently planned or under development in the immediate area.
|For additional information, please contact:
888.208.7422 | BGL-SurpriseMedicalPlaza@jdsreservices.com
|BROKER OF RECORD: Diana Shirek, JDS Real Estate Services, Inc., AZ RE License No. CO661892000|
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