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Single-Tenant Office Medical

Pet Paradise - Phoenix

1675 W Happy Valley Rd, Phoenix, AZ 85085

Listing Price: $2,400,000

Cap Rate
6.25%
Tenant Name
Pet Paradise
Years Remaining On Lease
18.5
Guarantor
Corporate Guarantee
Rentable SF
11,902
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$12.60

Investment Overview

We are pleased to offer for sale the fee simple interest in a freestanding, single-tenant full service pet resort and veterinary clinic containing Pet Paradise (the “Property” or “Asset”) located in Phoenix, Arizona. Pet Paradise is a leader in pet industry, with interests in multiple business lines, including grooming, boarding and vet services. This location features a long term lease with an absolute triple net structure, with up to 2.0% increases annually over the term. The Property is positioned one mile east of Interstate-17 exit ramp and is in a major employment corridor. Phoenix has consistently been one of the fastest growing markets in the United States, and is expected to grow significantly over the term of the lease. This offering presents the rare opportunity to acquire a stabilized veterinary asset with a completely passive ownership structure for over 18 years and outstanding security in the value of the underlying real estate.

Investment Highlights

  • The Asset is subject to an ideal absolute triple-net lease with just over 18 years remaining and 2.0% annual increases, allowing for a completely passive investment structure with income appreciation
  • Strategic suburban location, with over 30% of household entertainment spending allotted towards pets and other related hobbies.
  • The Asset is well located in the Phoenix market and has limited full service competition within the immediate trade area.
  • The Asset is mission critical to the tenant's business, and offers essential services like animal care services.
  • Phoenix is one of the fastest growing markets in the country.
  • Limited direct competition in market.
  • Major employment corridor.

Exclusively Listed By

  • Tivon Moffitt

    Senior Vice President Investments

    (602) 687-6688

    Email Tivon

    License(s): AZ: BR639369000, NV: S.0186027, UT: 11178542-AB00, NE: 20170674

    Phoenix

  • Peter Bauman

    Senior Vice President Investments

    (602) 687-6685

    Email Peter

    License(s): AZ: SA647389000, NV: S.0186153

    Phoenix

Single-Tenant Office Medical

Pet Paradise - Phoenix

Listing Price: $2,400,000

Cap Rate
6.25%
Tenant Name
Pet Paradise
Years Remaining On Lease
18.5
Guarantor
Corporate Guarantee
Rentable SF
11,902
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$12.60

Investment Highlights

  • The Asset is subject to an ideal absolute triple-net lease with just over 18 years remaining and 2.0% annual increases, allowing for a completely passive investment structure with income appreciation
  • Strategic suburban location, with over 30% of household entertainment spending allotted towards pets and other related hobbies.
  • The Asset is well located in the Phoenix market and has limited full service competition within the immediate trade area.
  • The Asset is mission critical to the tenant's business, and offers essential services like animal care services.
  • Phoenix is one of the fastest growing markets in the country.
  • Limited direct competition in market.
  • Major employment corridor.

Investment Overview

We are pleased to offer for sale the fee simple interest in a freestanding, single-tenant full service pet resort and veterinary clinic containing Pet Paradise (the “Property” or “Asset”) located in Phoenix, Arizona. Pet Paradise is a leader in pet industry, with interests in multiple business lines, including grooming, boarding and vet services. This location features a long term lease with an absolute triple net structure, with up to 2.0% increases annually over the term. The Property is positioned one mile east of Interstate-17 exit ramp and is in a major employment corridor. Phoenix has consistently been one of the fastest growing markets in the United States, and is expected to grow significantly over the term of the lease. This offering presents the rare opportunity to acquire a stabilized veterinary asset with a completely passive ownership structure for over 18 years and outstanding security in the value of the underlying real estate.

Exclusively Listed By

  • Tivon Moffitt

    Senior Vice President Investments

    (602) 687-6688

    Email Tivon

    License(s): AZ: BR639369000, NV: S.0186027, UT: 11178542-AB00, NE: 20170674

    Phoenix

  • Peter Bauman

    Senior Vice President Investments

    (602) 687-6685

    Email Peter

    License(s): AZ: SA647389000, NV: S.0186153

    Phoenix

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