Newmark, as exclusive advisor, is pleased to present the exciting opportunity to acquire the fee-simple interest in five, 100% absolute NNN leased, mission critical, heavy power, single tenant properties located in Texas, Kansas, Georgia, and Arizona totaling ±1.075 million square feet, (the “Portfolio”). These one-of-a-kind, mission critical properties are being made available collectively as a portfolio or on an individual basis.
The Portfolio consists of two data centers located in Richardson, TX and Olathe, KS that are 100% leased to the largest property & casualty insurance company in the United States that is S&P AA, AM Best A++ rated through August and November 2031, with three, five-year renewal options respectively. The tenant utilizes these two properties as mission critical data centers.
Additionally, there are two, 100% leased Insurance Support Centers (“ISC’s”) located in Irving, TX and Alpharetta, GA, also each leased to the largest property & casualty insurance company in the United States through May 2030, with two, five-year renewal options. The Tenant utilizes these ISC’s for printing and imaging operations for any paper product provided to customers across the country.
The fifth property within the Portfolio, located in Phoenix, AZ is leased to Sonora Quest Laboratories, a subsidiary of Laboratory Sciences of Arizona, which is a joint venture between Banner Health and Quest Diagnostics (S&P BBB+; NYSE: DGX), one of the nation's largest integrated laboratory systems. Sonora Quest Laboratories utilizes the property for lab/life science/diagnostic testing operations and is leased through May 2030 with two, five-year options to renew the lease. All leases within the Portfolio include annual rental escalations.