Overview
Institutional Property Advisors, a division of Marcus & Millichap, is pleased to offer Pusch Ridge Center (the “Center” or “Asset”) consisting of two (2) adjacent buildings located at including 10361 & 10371 North Oracle Road Oro Valley, AZ 85737. The Center is anchored by Cadence Academy, a childcare and learning center that is the sole tenant of building 10361 on a long-term triple net lease. The multi-tenant office building located at 10371 is 100% occupied by 11 tenants and is a premier suburban office providing small suites to local high-end professionals. Cadence Academy and Pusch Ridge combined are 100% occupied and comprise a premier childcare and learning center and Class A office in Oro Valley, providing a comprehensive range of tenants and services in immediate proximity to the affluent neighborhood of Oro Valley, Arizona.
The Portfolio consists of approximately +/-31,478 square feet of rentable building off the main corridor driving through Oro Valley and connecting Tucson 10 miles to the south.
The Portfolio is an exceptional stabilized investment opportunity with high quality underlying fundamentals and tenancy. The Pusch Ridge portfolio is currently 100% occupied with (12) various professional tenants, and features +/- 6.40-year weighted average lease term (WALT) remaining.
Investment Highlights
Fully Stabilized Investment Opportunity- Including Highly Desirable Cadence Academy & Class A Multi-Tenant Office
- +/- 6.40-year WALT on the in-place occupancy of 100%, providing an investor immediate positive cashflow
- Cadence Academy represents 54% of the Center’s gross potential rent, reinforcing its role as a key anchor tenant. Further strengthening its commitment, Cadence recently signed a lease extension through July 2034, featuring 3% annual rent escalations
Strategically Located with Abundant Amenities
- High visibility location off North Oracle Road with ample signage
- Located within 1,000 feet of Rooney Ranch Shopping Center, offering a variety of retail amenities and dining options, including Chipotle, First Watch, Fry’s (Kroger), Home Depot, Jersey Mike’s, Starbucks, and Target
Below Market Rents Providing a Mark to Market Play
- The Seller is part of the original owner/developer’s family, and many rents remain below market due to long-term tenant relationships. As a result, rent in the office building are 20% below market rent
- Long-standing tenant relationships provide stability, while the below-market rents present a unique opportunity for strategic rent growth without significant turnover risk
Photo Gallery
