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

Attributes

Year Built 1998

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
Licensed in
SA651991000
Michael Leggett
Michael Leggett
Senior Managing Director

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