medcoa 990-1000 Grand Canyon Parkway Hoffman Estates Offering Memorandum Preview
Medcoa Hoffman Estates
EXECUTIVE SUMMARY Medcoa provides a rare value-add opportunity to acquire two well located medical office buildings and is exceptionally positioned to meet tenant s needs and the continued growth of outpatient space needs. rentable building area MEDCOA percent occupied 54.4% stories typical floor plates largest available space parking ratio 53,173 rentable square feet 990 Bldg. - 4 stories 1000 Bldg. - 3 stories +/- 6,000 rentable square feet 3,573 rentable square feet 4.41/1,000 square feet is pleased to offer the opportunity to purchase The Medcoa Professional Buildings ( Medcoa ) in Hoffman Estates, Illinois. Medcoa is a two building, class-b multi-tenant medical office complex containing 53,173 rentable square feet. The complex is located along Higgins Road in Hoffman Estates just 28 miles outside of downtown Chicago. The complex is well located within the Northwest submarket and conveniently located between two major medical campuses, offering tenants exceptional access to two full-service hospitals within 5 miles of the Property. The Property has gone through several improvements over the last few years, including resurfacing of the parking lot, elevator remodeling, new pylon signage on Higgins Road and interior common area improvements. Additionally, the building s entry ways have been renovated including the installation of new sidewalks for both buildings, new canopies and automatic entry doors. Several of the vacant suites already have existing conditions for medical use. Medcoa Hoffman Estates
Medcoa Hoffman Estates
diversified tenant base Since purchasing Medcoa in 2014 at 30% occupied, ownership has been able to increase occupancy to 54.4% with a diverse tenant roster. Several larger tenants at the property, Access Health Care and Dr. Howard Mangurten have each recently renewed and expanded for long term leases. Medcoa boasts a strong basis of in-place rent and a diversified tenant mix offering exceptional opportunity for rent growth, property reutilization, and organic expansion of current tenants. The 53,173 square foot complex is home to tenants from a variety of medical practices including dentists, orthodontists, internists and ear, nose and throat specialists. recent capital improvements Ownership has undertaken numerous projects to improve both the functionality and efficiency of Medcoa as well as the beauty and appeal of the property. Construction of a new building entry and canopy at each tower was completed in 2015. With a watchful eye on tenant needs, ownership continues to improve the property in ways that will not only benefit current tenants, but in ways that will appeal to potential new tenants. CAPITAL IMPROVEMENTS SINCE 2012 mechanicals Common area light fixtures $7,500 Cooling towers $10,000 Air handlers $55,000 Electrical switchgear $18,000 aesthetics Common area improvements $80,000 Parking lot improvements $126,000 Landscaping $34,500 Monument signage $20,000 Entryway & canopy project $167,000 total improvements $518,000 1000 BUILDING 990 BUILDING before before Medcoa Hoffman Estates
Medcoa Hoffman Estates
area amenities 1. McDonald s 2. Starbucks 3. Dunkin Donuts 4. Hoffman Estates Police Department 5. ALDI 6. Golf Point Plaza Shopping Center Binny s Beverage Depot La-Z-Boy Furniture Galleries Ruff & Ready, Inc. 7. Schaumburg Marketplace The Melting Pot Performance Bicycle Title Boxing Club Supercuts Angelina s Italian Restaurant OsteoStrong Coffee Haus Lifesource 8. Remington Plaza Fox & Hound Subway Cookies By Design FedEx Office Center Richard Walker s Pancake House 9. Walgreen s 10. KFC 11. Denny s 12. Hoffman Plaza Shopping Center Jewel-Osco Redbox San Korean Viet House Currency Exchange area medical 1. Vein s Without Surgery 2. Chicagoland Aesthetics 3. Illinois Spine Institute 4. Schaumburg Occupational Health 5. St. Alexian Outpatient Center 6. Community Health & Rehabilitation 7. Medical Office Building 8. Ascot Diagnostic Services 9. Remington Plaza Rosin Eyecare - Schaumburg Back, Neck & Headache Clinic 10. Illinois Eye Care Center 1 2 2 1 3 3 4 5 4 5 6 6 7 7 AREA MAP 8 9 11 12 10 8 9 10 Medcoa Hoffman Estates Crossroads Partners Offering Offering Memorandum Memorandum Preview Preview4
Medcoa Hoffman Estates
AREA HOSPITALS Medcoa Hoffman Estates
Medcoa Hoffman Estates
1300 east woodfield road suite 150 schaumburg illinois 60173 investment contact: Zachary Fox Senior Vice President (O) 847.239.7500 (D) 847.259.0932 (C) 847.501.1247 zach@xr-partners.com Crossroads Real Estate Partners, LLC a Delaware limited liability company, d/b/a has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.