Cheyenne Corporate Center Building Seven
Office | 6.00% CAP | 7,468 SqFt
Marketing description
Cushman & Wakefield US, Inc. is pleased to present for acquisition the single tenant SimonMed Imaging center located at 7610 W. Cheyenne Ave. (the “Property”). This is one of nine buildings located within, Cheyenne Corporate Center, a mixed-use campus consisting of office, medical office, and retail tenants.
SimonMed Imaging, Inc. is an outpatient imaging provider based in Scottsdale, AZ and featuring approximately 170 locations nationwide. This is a company that was founded more than 20 years ago offering a wide range of medical imaging services including MRI, CT, X-ray, ultrasound, mammography, and more.
The services provided by SimonMed are classified as essential services and therefore, are not impacted by financial downturns. This investment is a long-term, stable investment offering passive income with minimal landlord responsibilities.
SimonMed’s tenancy began March 1, 2017, as a subtenant and signed a direct lease on January 1, 2021. They exercised an early extension amending the renewal term to seven years versus the original contract renewal term of five-years. This early renewal and extended term reflect a commitment to Cheyenne Corporate Center as well as this location’s success.
This is a solid investment for a buyer seeking a low-risk opportunity with a high-return in a tax-free income state.
Investment highlights
Building Seven is 100% leased to a single tenant, SMI Imaging, Inc, dba SimonMed, which has been a tenant since 2020, and is one of nine locations in Southern Nevada. SimonMed is on a modified gross lease and the current build-out is specialized in nature and suitable for long-term tenancy at the Property.
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