FOR SALE NNN MEDICAL OFFICE BUILDING THE ATRIUM 4602 N 16TH STEET PHOENIX, AZ 85016 AARON KUHL 602-525-1491 AARON@ARIZONAMOB.COM ARIZONAMOB.COM MEDICAL OFFICE BROKERS
PROPERTY SUMMARY FOR SALE NNN MEDICAL OFFICE BUILDING THE ATRIUM 4602 N 16TH STREET PHOENIX, AZ 85016 BUILDING SIZE 17,657SF OCCUPANCY 100% NET OPERATING INCOME $307,330 LAND SIZE 0.68ACRES PARKING RATIO 5.2/1,000 ZONING C2-PHOENIX PROPERTY FEATURES 100% Leased NNN Building (2 Suites Currently Under Construction with Leases Signed to Bring Building 100% Occupied) Annual NOI of ~$307,330 23% of Building Leased to Forbes Top 30 Private Company Tenant, Providing a Significant Credit Enhancement to the Building All Leases Signed in 2017 and are Long Term Leases in Place with Personal Guarantees Providing Significant Credit Enhancement (Can Provide Rent Roll at Buyer s Request with Signed NDA) Leases Contain Rental Escalations per Annum of Leases of ~2 3% 1,000+ New Apartments Being Built within a 2 Mile Radius Mile Radius 40,000 Daytime Visitors within a ½ Mile SR 51 Interchange within ¼ Mile Significant Capital Improvements Invested into Building within the Past 12 Months LOCATION & MARKET The Atrium is located in the heart of Phoenix, surrounded by the affluence of the Biltmore/ Camelback Corridor, the energy of the central Phoenix restaurant scene and accessible to more than 40,000 daytime visitors within 1/2 mile. The building has been refurbished from top to bottom with new roof, new HVAC units and new parking lot to name a few. Additionally, 100% of the building has received new tenant improvements within the past 12 months. The submarket is strong and has seen redevelopment with high density multifamily and high income catering, national retail tenants throughout the corridor. A well located property with long term NNN leases to strong tenants make the Atrium a great purchase opportunity.
FINANCIAL SUMMARY FOR SALE NNN MEDICAL OFFICE BUILDING THE ATRIUM 4602 N 16TH STREET PHOENIX, AZ 85016 FINANCIAL HIGHLIGHTS 100% Occupancy with Stable Tenants 6.5% CAP rate on existing revenue 2-3% Annual Increases in All Leases ASKING PRICE $4,728,000 CAP RATE 6.5% PRICE PSF $267 PER SQUARE FOOT AVERAGE LEASE RATE (JAN 18) $17.41 NNN PER SQUARE FOOT
AREA OVERVIEW THE ATRIUM
AERIAL OVERVIEW THE ATRIUM 4602 N 16TH STREET PHOENIX, AZ 85016 OVERFLOW PARKING
TENANT PROFILES SUITE 100/201 NOESIS PHARMA Noesis Pharma specializes in clinical research in Depression, ADHD, PTSD, Fibromyalgia, Pain, Opioid, Central Nervous System, Alzheimer s, Adult, Juvenile and Pediatric studies. Founded in 2010 and currently has 2 locations. Led by Dr. Lee Ann Kelley and has a team of 10-12 staff. Website: www.noesispharma.com Dr. Lee Ann Kelley U of Oklahoma Medical School Graduate 89 OBGYN & Psychiatry Specialist Honor s Include multiple Phoenix Top Doc designations Personally Guarantee s the Lease and most recent credit score of 760 Linkedin: www.linkedin.com/in/lee-ann-welch-kelley-m-d-05b3384/
TENANT PROFILES SUITE 200 AMBER PHARMACY Based out of Omaha, Nebraska, Amber Pharmacy is a wholly owned subsidiary of Hy-Vee. Hy-vee is a Forbes Top 30 Private Company with 9.6 Billion in revenue Amber was founded in 1998 and has over 200 employees. Provides clinical care and patient management to all patients. Specifically focuses on more chronic cases Website: www.amberpharmacy.com/about Currently has locations throughout the United States Was named in 2015 one of the fastest growing specialty Pharmacy companies by Drugchannels.net Led by Mike Agostino, RPh who has been President of the Company since 2008 Graduate of Northeastern University 92 LinkedIn: www.linkedin.com/in/mike-agostino-01747513/
TENANT PROFILES SUITE 202 360 DESTINATION GROUP 360 Destination Group is a concierge travel company that coordinates leisurely travel for individuals and large parties. The company was established in 2003 and today has 12 offices throughout the United States. The Lease has a company Personal Guarantee. Website: www.360dg.com
TENANT PROFILES SUITE 210 DR. KEN LEPINSKAS Dr. Ken Lepinskas is a general and cosmetic dentist that specializes in dental implants, veneers and crowns. The practice has been established in Phoenix since 1999. Dr. Ken Lepinskas has over 5 dental hygienists and technical staff on his team Website: www.drkenlepinskas.com Dr. Ken Lepinskas has been a dentist since 1999. 1999 graduate of University of Pacific Dental School Has always practiced in Phoenix, Arizona Linkedin: www.linkedin.com/in/ken-lepinskas-67717b39/
TENANT PROFILES SUITE 300 AESTHETHICS BIOMEDICAL Aesthetics Biomedical represents a team of the best and the brightest innovators in the global aesthetics market who have created programs that are designed to create optimal results for the consumer. ABM is a thought leader in the innovation of treatment serums, masks, numbing cream and recovery agents to optimize the results of the treatments we design. The Company was founded in 2016, but its executive team has been in the industry for over 100 years combined. Website: www.aestheticsbiomedical.com The Executive Team is made up of Mary Ann Guerra (CEO), Todd Retheimer (CFO) and Tim Duggins (CRO) Ms. Guerra is the former President of TGEN (tgen.org) and has had senior positions at the National Institute of Health and Lung and Blood Institutes. Mr. Rethemeir has more than two decades of financial experience, coming from Booz-Allen & Hamilton and prior to that was an Equity Analyst at Wall Street Investment Banks. Mr. Duggins has spent over 30 years designing and implementing regulatory and quality management processes.
PROPERTY PHOTOS
PROPERTY PHOTOS
RENT ROLL FINANCIALS AVAILABLE UPON REQUEST
For more information please contact: AARON KUHL 602-525-1491 AARON@ARIZONAMOB.COM MEDICAL OFFICE BROKERS DISCLAIMER Although the information furnished regarding property for sale, lease, or financing is from sources deemed reliable, no warranty or representation, express or implied, is made as to the accuracy of the information contained herein. It is submitted subject to errors, omissions, change of price, rental, or other conditions prior to sale, lease, or financing, or withdrawal without notice. If you have received this e-mail in error, please immediately notify me by reply e-mail and destroy the original transmission and its attachments without reading or saving in any manner. If anything in this email references terms of a transaction, please note that nothing is binding until a contract is fully signed by all of the required parties. Thank you.