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• New 10-Year Lease guaranteed by Western
Dental Services, Inc.
• Renovations completed Summer 2012.
• Located on a busy corridor with traffic count of
40,000 vehicles/day
• No Landlord responsibilities - NNN Lease
STUART SCHEINHOLTZVice President
(415) 963-4706
DRE License #00999171
1080 W. Elliot Road
Tempe, Arizona 85284
Price:
$1,964,593Cap Rate:
7.00%
THE INFORMATION SET FORTH HEREIN HAS BEEN RECEIVED BY US FROM SOURCES WE BELIEVE TO BE RELIABLE, BUT WE HAVE MADE NO INDEPENDENT INVESTIGATION OF THE ACCURACY OR COMPLETENESS OF ANY FIGURES AND MAKE NO REPRESENTATIONS WITH RESPECT THERETO. THE INFORMATION HEREIN IS SUBMITTED SUBJECT TO ERRORS, PRIOR SALE OR LEASE, CHANGE IN STATUS OR WITHDRAWAL
WITHOUT NOTICE. BUYER MUST VERIFY THE INFORMATION AND BEARS ALL RISK FOR ANY INACCURACIES.
Specialists in Triple-Net (NNN) Leased Real Estate$2.5 billion worth of NNN leased real estate properties sold
ABOUT THE LOCATION:The subject property is located west of the northwest corner of Hardy Drive (10,000 vehicles/day) and Elliot Road (40,000 vehicles/day). Other notable tenants in the immediate neighborhood include Walmart, Costco, Staples, PetSmart and Dollar Tree.
ABOUT THE LEASE:The property is fully leased to Western Dental of Arizona, Inc. for a primary term of ten years. The Lease commenced on January 23, 2012 and rent commences on August 20, 2012. This is an Absolute Net Lease, with the tenant responsible for taxes, insurance and maintenance. The current NOI is $137,522, which increases to $154,024 in January 2017.
ABOUT THE TENANT:Western Dental is one California’s oldest and most experienced dental and oral health maintenance organizations. Its affiliate, Western Dental of Arizona, has become one of the largest and leading providers of dental care in Arizona, with 20 offices throughout Phoenix and Tucson. Western Dental has 200 dental offices and clinics throughout California and Arizona, with affiliated offices in Nevada, along with a network of over 1,700 dentists in 1,400 other offices throughout California.
Cap Rate: 7%
NOI: $137,522
Commencement: JANUARY 23, 2012
Terminates (Primary Term): DECEMBER 2021
Options:THREE 5-YEAR OPTIONS W/ 12% INCREASES
Guarantor: WESTERN DENTAL SERVICES, INC.
Square Footage: 5,395 SF +/-
Lot Size: 42,000 SF +/-
Year Built: 1993 - REMODELED IN 2012
THE INFORMATION SET FORTH HEREIN HAS BEEN RECEIVED BY US FROM SOURCES WE BELIEVE TO BE RELIABLE, BUT WE HAVE MADE NO INDEPENDENT INVESTIGATION OF THE ACCURACY OR COMPLETENESS OF ANY FIGURES AND MAKE NO REPRESENTATIONS WITH RESPECT THERETO. THE INFORMATION HEREIN IS SUBMITTED SUBJECT TO ERRORS, PRIOR SALE OR LEASE, CHANGE IN STATUS OR WITHDRAWAL
WITHOUT NOTICE. BUYER MUST VERIFY THE INFORMATION AND BEARS ALL RISK FOR ANY INACCURACIES.
Specialists in Triple-Net (NNN) Leased Real Estate$2.5 billion worth of NNN leased real estate properties sold
