Multi-Property, Two Tenant, NNN Investment Portfolio
21321 E Ocotillo Rd #108
Queen Creek, AZ 85142
Highlights
- Multi-Property, Two Tenant, NNN Investment Portfolio
- Both Assets Located in Well-Stabilized, Growing Portions of the Market
- All Leases are Absolute NNN & Reimburse Ownership for all Associated Expenses
- Three and a Half Years Remaining on all Three Leases
- Compounding Pharmacies are Personally Guaranteed
Description
SVN Desert Commercial Advisors, as the sole representative of the Owner, is pleased to present for sale this multi-property, two-tenant, Triple Net medical investment portfolio. The portfolio consists of two office condo properties, one of which is located in Queen Creek, Arizona, and the other is located in Mesa Arizona.
The Queen Creek property is a single-tenant asset currently leased to a Four Corners Compounding Pharmacy. Personally guaranteed by the company's principal, who fully executed their lease in November of 2022. With three and a half years remaining on the lease, this location was built to spec for the compounding pharmacy and includes a large manufacturing area as well as a controlled clean room with advanced independent air filtration. The lease is an absolute NNN lease where the tenant is responsible for reimbursing the Owner for all associated expenses including taxes, insurance, and CAM costs.
The Mesa property is a two-tenant asset currently leased to Four Corners Compounding Pharmacy. Operating the space as its second location, Cosmetic Family Dental Clinic P.C. is a multi-operatory dental clinic that, has been open in the Mesa area for over 10 years. Both leases observe the same triple net structure where the tenant reimburses the owner for all associated expenses, including taxes, insurance, and CAM costs.
Located south of the Loop-202 off of Rittenhouse Rd & E Ocotillo Rd. in the Queen Creek Professional Village, this ±2,724 SF condo is easy to get to from anywhere in the valley. Within the immediate proximity of the property lies the Queen Creek Marketplace, anchored by Sprouts Farmers Market, Trader Joe's, In-N-Out Burger, and many other desirable retail amenities. The subject property is located in the heart of the quickly expanding southeast valley, allowing for many new and prominent amenities and neighborhoods nearby. Within a 15-minute drive are the Phoenix-Mesa Gateway Airport, ASU's Polytechnic Campus, and two Dignity Health hospitals as well as the Elliot Road Technology Corridor, Eastmark Industrial, and the LG Battery Facility, a recently announced fabrication facility for LG Electronics of Korea which will bring thousands of new jobs to the Queen Creek marketplace.
Located in the northeast pocket of Mea, the subject property is primely located off E Brown Rd and Power Rd. Unit 100/101 is surrounded by unique shopping centers, a diverse amount of restaurants, and great accessibility to and from the office via the Loop 202 and US 60. Up the street from the property lies Red Mountain Gateway, a neighborhood retail center anchored by Target and featuring a unique mix of local and nationally recognized restaurants and QSRs. The subject property also lies within the northwest pocket of the Loop-202 near the Falcon Field Industrial Park and Longbow. Additionally, this part of Mesa has seen substantial infill growth over the last market cycle and is forecasted to continue this growth over the next few years.
