Property History
RARE, STABILIZED MEDICAL OFFICE BUILDING ANCHORED BY CREDIT TENANTS WITH A WALT of 7.3 YEARS AND STRONG UPSIDE | MESA, AZ
► 1425 S. Greenfield Rd. is an attractive medical office offering in one of the fastest growing regions in the nation, featuring abundant 7.41:1000 parking, highly desirable exterior loaded entrances, and is conveniently located within a 1-minute drive to a major hospital system. The Property has been meticulously maintained and was recently repainted white, creating exceptional curb appeal when coupled with its timeless red clay roof and lush landscaping.
► 100% leased to a diverse mix of medical tenants, 1425 S. Greenfield Rd. offers balanced rollovers and secured cash-flow. With a weighted average lease term of 7.3 years remaining, the rent roll provides exceptional stability and upside from the increase of the 10% below market rents upon rollover and a potential 3,000 SF expansion of the Property (page 23 and 24 of the OM).
► Priced 25% below replacement cost, 1425 S. Greenfield Rd. presents a “one-of-a-kind” opportunity to acquire a high-image medical office building with an extremely loyal tenant base, evident by its over 95% historical occupancy rate over the past 10+ years.
IDEAL MEDICAL LOCATIONS NEAR MAJOR HOSPITALS AND ABUNDANT SURROUNDING AMENITIES
► 1425 S. Greenfield Road is a 1-minute drive (0.6 miles) from Banner Gateway Medical Center, a 60-acre medical campus that is undergoing a $243M, 351,000 SF expansion that will double its size, adding a five-story patient tower and new diagnostic and treatment space. Additionally, 1425 S. Greenfield Road is located within 9 minutes (8 miles) of Banner Desert Medical Center and 8 minutes (4.2 miles) to Banner Baywood Medical Center which are only 2 of 15 medical centers within a 5-mile radius
► Located in the heart of the Southeast Valley, the Property boasts exceptional freeway access, making it convenient to travel throughout the metro and access the 5+ million people who live in greater Phoenix.
THRIVING ECONOMIC LOCATIONS HUB WITH NATION LEADING POPULATION GROWTH
► Growth Market: Nearly one third of Phoenix’s population lives in the East Valley, which is growing twice as fast as the national average (1.8%/year growth vs. 0.8%/year). (phxeastvalley.com)
► With a population of more than 504,000, Mesa is the 37th largest city in the United States and second largest in the Phoenix metro area and is larger than Miami, Minneapolis, Atlanta, and St. Louis. (selectmesa.com)
► East Valley Economic Growth: Economists predict that the region will add an estimated 400,000 new positions in the next 30 years.
► Looking forward, the Phoenix Metro population is expected to grow at an annual rate of 1.8% over the next five years, more than double the national rate of growth. (BLS.gov)
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