OFFERS REQUESTED BY WEDNESDAY, OCTOBER 10TH, 2018 – 5:00 PM MST
The Offering
CBRE U.S. Healthcare Capital Markets is pleased to exclusively offer the opportunity to acquire the La Ronde Medical Centre (the “Property”), located in the Phoenix MSA of Sun City, Arizona. The Property totals ±88,400 rentable square feet and is 90.3% leased by a variety of healthcare service providers, including two surgery center tenants; Barnet Dulaney Perkins Eye Center and Comprehensive Interventional Care Centers which make up 60% of the net operating income.
The La Ronde Medical Centre was constructed in 1972 and was completely renovated by the current owner. The building was awarded the “Medical Redevelopment of the Year” by the National Association of Industrial and Office Properties (NAIOP) in Phoenix in 2016. Over $7.1 million in capital has been injected into the Property to redevelop the retail center into a premier integrated outpatient medical center. The recent capital improvements have attracted excellent new tenants with new lease terms that recently commenced and an average remaining lease term of 7.4 years, providing an investor with a newly renovated medical office building and a stable investment income stream for the foreseeable future.
Investment Highlights
- 90.3%+ Leased to a Variety of Synergistic Tenants
- Two Surgery Center Anchor Tenants
- Measured Exposure with a Stable, Growing Cash Flow
- Value Add Opportunity Through Lease Up & Medical Office Conversion
- Large Capital Investments by Tenants in Asset
- Over $7.1 Million of Recent Capital Upgrades
- Appealing Aging Trends Drive Demand for Healthcare
- Delivered Free and Clear of Existing Debt
Contact Information
CBRE U.S. Healthcare Capital Markets
Chris Bodnar
+1 303 628 1711
chris.bodnar@cbre.com
Lee Asher
+1 404 504 5965
lee.asher@cbre.com
Ryan Lindsley
+1 303 628 1745
ryan.lindsley@cbre.com
CBRE Arizona Investment Properties
Andrew Fosberg
+1 602 735 1723
andrew.fosberg@cbre.com
Dylan Brown
+1 602 735 1714
dylan.brown@cbre.com
Financing Contact
Adam Parker
Newmark Realty Capital, Inc.
+1 602 354 5275
aparker@newmarkrealtycapital.com
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