Single-Tenant Office Medical
Desert Vista Surgical Center
10117 N 92nd St, Scottsdale, AZ 85258
Listing Price: $4,000,000
Investment Overview
Marcus and Millichap is pleased to offer the opportunity to acquire 10117 N 92nd Street, Suite 103, Phoenix, AZ (the “Property” or “Asset”), a +/- 4,934 square foot class A outpatient ambulatory surgical center (“ASC”) located in North Scottsdale and Paradise Valley’s preeminent medical corridor and adjacent to Honor Health’s Scottsdale Shea Medical Campus. This generational piece of real estate is subject to a new 10-year NNN lease to Desert Vista Surgical Center, LLC, with a rent commencement on September 1, 2022. The lease features 3% annual increases and two (2), five (5) year renewal options at the greater of the then previous year’s rent or 95% of FMV, with 3% annual increases throughout the renewal periods. Desert Vista Surgical Center is majority owned by Banner Atlas. Banner Atlas was formed in 2018 as a joint venture between Banner Health and Atlas Healthcare Partners. In May 2022, Banner Health took an additional step of purchasing an undisclosed amount of Atlas Healthcare Partners further emphasizing the success of the partnership and operation.
Desert Vista Surgical Center
Investment Highlights
- State of the art facility with a $2 million build-out completed in 2020
- Highest rated Medicare certified surgical center
- Strong investment grade backed tenant
- Limited competition within this medical office marketplace
- Centrally located in Scottsdale and adjacent to Paradise Valley, Arizona's most affluent community
Listing Price: $4,000,000
Investment Highlights
- State of the art facility with a $2 million build-out completed in 2020
- Highest rated Medicare certified surgical center
- Strong investment grade backed tenant
- Limited competition within this medical office marketplace
- Centrally located in Scottsdale and adjacent to Paradise Valley, Arizona's most affluent community
Investment Overview
Marcus and Millichap is pleased to offer the opportunity to acquire 10117 N 92nd Street, Suite 103, Phoenix, AZ (the “Property” or “Asset”), a +/- 4,934 square foot class A outpatient ambulatory surgical center (“ASC”) located in North Scottsdale and Paradise Valley’s preeminent medical corridor and adjacent to Honor Health’s Scottsdale Shea Medical Campus. This generational piece of real estate is subject to a new 10-year NNN lease to Desert Vista Surgical Center, LLC, with a rent commencement on September 1, 2022. The lease features 3% annual increases and two (2), five (5) year renewal options at the greater of the then previous year’s rent or 95% of FMV, with 3% annual increases throughout the renewal periods. Desert Vista Surgical Center is majority owned by Banner Atlas. Banner Atlas was formed in 2018 as a joint venture between Banner Health and Atlas Healthcare Partners. In May 2022, Banner Health took an additional step of purchasing an undisclosed amount of Atlas Healthcare Partners further emphasizing the success of the partnership and operation.
