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Office Medical

State of Arizona DES + Horizon Medical

1185 S Redondo Center Dr, Yuma, AZ 85365

Listing Price: $8,050,000

Cap Rate
8.50%
Gross SF
40,042
Rentable SF
40,042
Price/Gross SF
$201.04
Occupancy
100.0%
Year Built
2010
Lot Size
4.25 acres

Investment Overview

Marcus & Millichap is pleased to present a two-tenant fully occupied medical and State of Arizona office building occupied by the Arizona Department of Economic Security (DES) and Horizon Health and Wellness; a company being non-profit successfully for over 40-years providing full-service medical health care across Arizona. The building is a 40,042-square foot single story office building encumbered by a brand new 9-year lease with Horizon Health and Wellness; a financially strong non-profit medical tenant occupying 18,705-square feet of the building with a new lease signed 2021. The Arizona Department of Economic Security (DES) occupies 21,337-square feet and has recently signed a brand-new 2-year lease with a 2-year option to extend. The Arizona Department of Economic Security (DES) works with families, community organizations, advocates and state and federal partners to realize their collective vision that every child, adult and family in Arizona will be safe and economically secure. The DES works to promote enhanced safety and well-being for Arizonans by focus on three primary goals: Strengthening individuals and families, increasing self-sufficiency, and developing the capacity of communities. Weather it is an individual that needs help, a potential employee passionate about helping others, or a part of the extensive network of human service professionals throughout Arizona dedicated to improving outcomes for children and families, they look forward to working with all to better tomorrow by providing support today. The Department Economic Security was established in 1972 by consolidating multiple agencies to provide an integrated approach to human services. In 2014, the Arizona Legislature created the Department of Child Safety, which officially moved Child Protective Services out of DES and made it a standalone agency. Today, DES invests approximately $4 billion annually to assist more than 2.9 million Arizonans. Their staff of more than 7,700 team members strive daily to provide timely, accurate and beneficial services to assist those in need. Horizon Health and Wellness for over 40 years has offered a full range of mental health services for all ages and stages in life. In addition to behavioral health services, they also provide primary care. Horizon is committed to providing the best care possible by providing integrated health care that addresses the whole person and promotes wellness, thereby helping sustain people’s health and the health of their families. Horizon Health and Wellness is sensitive to those in their communities who struggle to pay for health care due to financial hardship. They believe people’s health and wellness is important and that is why they offer different ways for families to get the care they need. This offering is for any investor who is seeking a high yield opportunity with two extremely strong tenants who have recently signed brand new leases. This offering has a current in-place capitalization rate of 8.50% with a pro-forma capitalization rate of 8.57% on the next fixed increase for Horizon Health and Wellness.

Investment Highlights

  • Highly Desirable Single-Story 100% Occupied Medical and State of Arizona AA (S&P) Credit Rating Investment
  • Brand New Leases with COVID Resistant Tenants Providing an In-Place 8.50% Capitalization Rate with a Pro-Forma 8.57%
  • Property Located Immediately Adjacent to Davita Dialysis which Complements Horizon Health and Wellness
  • State of Arizona Department of Economic Security plays a Major Role as Coordinator and Gateway for New Business in Yuma
  • Horizon Health and Wellness has been Providing Care to the Community for over 40 Years with a Strong Balance Sheet

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    Vice President / Regional Manager

    License(s): AZ: BR675146000

    Arizona

Office Medical

State of Arizona DES + Horizon Medical

Listing Price: $8,050,000

Cap Rate
8.50%
Gross SF
40,042
Rentable SF
40,042
Price/Gross SF
$201.04
Occupancy
100.0%
Year Built
2010
Lot Size
4.25 acres

Investment Highlights

  • Highly Desirable Single-Story 100% Occupied Medical and State of Arizona AA (S&P) Credit Rating Investment
  • Brand New Leases with COVID Resistant Tenants Providing an In-Place 8.50% Capitalization Rate with a Pro-Forma 8.57%
  • Property Located Immediately Adjacent to Davita Dialysis which Complements Horizon Health and Wellness
  • State of Arizona Department of Economic Security plays a Major Role as Coordinator and Gateway for New Business in Yuma
  • Horizon Health and Wellness has been Providing Care to the Community for over 40 Years with a Strong Balance Sheet

Investment Overview

Marcus & Millichap is pleased to present a two-tenant fully occupied medical and State of Arizona office building occupied by the Arizona Department of Economic Security (DES) and Horizon Health and Wellness; a company being non-profit successfully for over 40-years providing full-service medical health care across Arizona. The building is a 40,042-square foot single story office building encumbered by a brand new 9-year lease with Horizon Health and Wellness; a financially strong non-profit medical tenant occupying 18,705-square feet of the building with a new lease signed 2021. The Arizona Department of Economic Security (DES) occupies 21,337-square feet and has recently signed a brand-new 2-year lease with a 2-year option to extend. The Arizona Department of Economic Security (DES) works with families, community organizations, advocates and state and federal partners to realize their collective vision that every child, adult and family in Arizona will be safe and economically secure. The DES works to promote enhanced safety and well-being for Arizonans by focus on three primary goals: Strengthening individuals and families, increasing self-sufficiency, and developing the capacity of communities. Weather it is an individual that needs help, a potential employee passionate about helping others, or a part of the extensive network of human service professionals throughout Arizona dedicated to improving outcomes for children and families, they look forward to working with all to better tomorrow by providing support today. The Department Economic Security was established in 1972 by consolidating multiple agencies to provide an integrated approach to human services. In 2014, the Arizona Legislature created the Department of Child Safety, which officially moved Child Protective Services out of DES and made it a standalone agency. Today, DES invests approximately $4 billion annually to assist more than 2.9 million Arizonans. Their staff of more than 7,700 team members strive daily to provide timely, accurate and beneficial services to assist those in need. Horizon Health and Wellness for over 40 years has offered a full range of mental health services for all ages and stages in life. In addition to behavioral health services, they also provide primary care. Horizon is committed to providing the best care possible by providing integrated health care that addresses the whole person and promotes wellness, thereby helping sustain people’s health and the health of their families. Horizon Health and Wellness is sensitive to those in their communities who struggle to pay for health care due to financial hardship. They believe people’s health and wellness is important and that is why they offer different ways for families to get the care they need. This offering is for any investor who is seeking a high yield opportunity with two extremely strong tenants who have recently signed brand new leases. This offering has a current in-place capitalization rate of 8.50% with a pro-forma capitalization rate of 8.57% on the next fixed increase for Horizon Health and Wellness.

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    Vice President / Regional Manager

    License(s): AZ: BR675146000

    Arizona

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