Newmark Capital Markets, as exclusive advisor, is pleased to present the opportunity to acquire the fee-simple interest in Edwards Professional Park I & II (the "Property"), two 2-story, Class A, exterior-loaded, medical office buildings totaling ±91,429 SF. The Property is located one block north of the 427-bed acute care HonorHealth Shea Medical Center and is in the heart of the affluent and highly sought-after Scottsdale Cure Corridor.
Irreplaceable and strategic location for medical use, one block north of the 427-bed HonorHealth Shea Medical Center
Ideal access off the Loop 101 Freeway and Shea Blvd, a major east-west arterial in Scottsdale, providing tremendous accessibility for clientele and patients in the immediate vicinity and surrounding broader MSA
Extremely well positioned within the "Scottsdale Cure Corridor" with many complementary and synergistic services and users in the surrounding market
Abundant parking across both buildings with 376 total spaces (±4.1/1,000 SF), 75 of which are covered canopy
Substantial capital improvements and tenant improvements have been invested across both buildings by ownership, including upgrades to all restrooms, nearly every suite has been updated during current ownership, and aesthetic exterior facade and paint upgrades, among many other improvements
Suite sizes and floor plans uniquely position buildings to meet strong demand from users who want to be close to the hospital without being on campus or having to lease large footprints
Exterior-loaded direct-to-suite access, coupled with proximate surface parking, provides convenient entry to tenants and clientele alike
Diverse rent roll with rents that are 14% below market rates provides a shield from concentrated rollover risk and significant near-term upside through new lease-up and renewals