Asking Price Contact for pricing
N/A
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
N/A
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 1998
Occupancy 89.0 %

Property Description

-Ability to Create Immediate & Future Value -Credit Tenancy -Ideal Parking Ratio & Large Floorplates -Strong Economic Fundamentals

Investment Highlights

  • Holliday Fenoglio Fowler, L.P. (“HFF”) has been engaged as the exclusive advisor to extend to qualified investors the opportunity to acquire the fee simple interest in Scottsdale Gateway I, a 96% leased 107,049 square foot medical office building, and 92 Mountain View, an 89% leased 116,200 square foot office building (collectively, the “Properties” or “Portfolio”). Combined, the 223,249 square foot portfolio is 92% leased with a weighted average lease term of 4.3 years.
  • Located in Arizona’s premier submarket, Scottsdale, the Portfolio is ideally positioned adjacent to the HonorHealth (Moody’s: A2) Scottsdale Shea Medical Center, a 433-bed, full-service not-for-profit acute care hospital that featured $116 million of EBITDA in 2017 and accounted for 27% of HonorHealth’s systemwide total patient revenue. The Properties benefit from the area’s robust demographics, with an average household income over $145,000 within a 5-mile radius, walking distance to over 1.4 million square feet of upscale shopping and dining, and excellent accessibility and visibility via Arizona State Route 101 (the “Loop 101”).
  • The Portfolio provides the unique opportunity to acquire two institutional-quality office buildings located in one of the nation’s fastest growing technology and medical markets in the country. In addition, the Portfolio provides stable in-place cash flow, build-to-suit development potential and significant upside through near-term rollover.
  • The Portfolio is free and clear of existing debt and can be acquired as a portfolio or as individual assets.
Benjamin Geelan
Benjamin Geelan
Director, Capital Markets
License details
AZ-SA651991000
Michael Leggett
Michael Leggett
Senior Managing Director, Office Platform Leader
License details
CA-01056334

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