2300 & 2310 corporate circle | green valley corporate … · 2020. 7. 31. · nevada, a major...
TRANSCRIPT
A TWO BUILDING MULTI-TENANT OFFICE PROJECT | 73,209 SQUARE FEET | 94.3% LEASED TO FOUR CREDIT TENANTSTECH PARK V
2300 & 2310 CORPORATE CIRCLE | GREEN VALLEY CORPORATE CENTER | HENDERSON, NV
FIND MORE INFORMATION: WWW.TECH-PARK-V.COM
BRAD TECCA Executive [email protected]
CA License 01204598NV License S0178012
GEOFFREY WESTSenior Director702.688.6936 [email protected] NV License BS0044998.LLC
RICK REEDER Executive Managing [email protected]
CA License 00847576NV License S0177408
CONSERVATIVE BUYING METRICS / ATTRACTIVE BASIS
It is anticipated that Tech Park V will sell at a discount to replacement cost and provide an investor with superior risk adjusted returns. In-place cash flows are backed by a substantial credit rent roll eliminating risks associated with near term vacancy exposure and allowing an investor to obtain optimal financing leading to strong leveraged returns.
STABLE CASH FLOW / ZERO NEAR TERM VACANCY
Tech Park V is 94.3% leased to four tenants and includes staggered lease expirations with a weighted average lease term remaining of 4 years. A stellar in-place rent roll that includes no tenant expirations until November, 2021 will provide a new investor with uninterrupted cash flow as well as the ability to increase NOI by elevating tenants to market rent as current leases expire.
INVESTMENT HIGHLIGHTS
OFFERING PRICE: $18,200,000 CAP RATE: 7.7%
EXECUTIVE SUMMARY
73,209 SQUARE FEET
7.08 ACRES
2 BUILDINGS
94.3% LEASED
2001 YEAR BUILT
6/1,000 SF PARKING RATIO
Cushman & Wakefield is pleased to present the opportunity to acquire Tech Park V (the “Property”) a two building office campus set within Green Valley Corporate Center in Henderson, Nevada, a major activity node for the affluent Green Valley/Henderson area. Surrounded by a substantial base of walkable amenities, the Property totals 73,209 square feet in two single story buildings and is currently 94.3% leased to four credit tenants.
DIVERSIFIED TENANT BASE / AMENITY RICH LOCATION
Green Valley Corporate Center is one of the most mature, resilient, and dynamic office markets in Southern Nevada. The Property’s key location along the 215 Beltway only 10 minutes from McCarran International Airport includes access to an extensive cluster of executive and workforce housing and a large and expanding amenity base, offering a wealth of walkable retail establishments that is a key driver in achieving market leading rental rates and continuous occupancy.
QUALITY IMPROVEMENTS / ABOVE STANDARD PARKING
Situated on 7.08 sprawling acres Tech Park V includes a 6.0:1000 parking ratio, well above market standard providing the ability to attract and retain a wide variety of parking intensive tenant uses. The current ownership has invested heavily into the Property, recently installing substantially all new HVAC units and both new roofs that will be completed prior to the sale, eliminating ongoing exposure to unforeseen capital expenditures.
INVESTMENT HIGHLIGHTS
Chart Title
Fidelity National Home Warranty Company Contractor’s Board Elekta Davita Dialysis Amenity Space
VACANT
15.0%
19.4%
5.7%
36.9%
23.0%
TENANT OCCUPANCY
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AMENITY MAP