deal image
10752 N 89th Pl, Scottsdale, AZ 8952 E Desert Cove Ave, Scottsdale, AZ
Edwards Professional Park I & II
Asset ClassOffice, Healthcare Facility
91% Leased Medical Office Investment Opportunity with Upside
overview of deal

Overview

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.

Access the Data Room

Investment Highlights

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

deal gallery image
deal gallery image
deal gallery image
10752 N 89th PlScottsdale, AZ 85260

Sales Team

Inquire

Listing provided by LightBox Revere