Description de l'actif
Jones Lang LaSalle Americas, Inc. (“JLL”) has been exclusively retained to present qualified investors with the opportunity to acquire the fee simple interest in a Class A outpatient medical office building (“Del Webb MOB” or the “Property”) with 76,281 rentable square feet located on the campus of Banner Del E Webb Medical Center (“Del Webb Campus” or the “Hospital”) in Sun City West, Arizona. The Property is 100% occupied by Banner Health (“Banner”), the largest integrated health system in Phoenix and Arizona, with a high investment grade rating of AA- from Standard & Poor’s and Fitch Rating Services. Banner is the tenant under a 12-year triple net lease with $1.8 million in year one net operating income based on rents of $24 per square foot, escalating at 3 percent annually.
Del Webb MOB is a Class A building, completed in 2004, featuring high acuity services such as a Banner MD Anderson Cancer Center, a pharmacy, a laboratory, and an ambulatory surgery center with three operating rooms. Clinical offices in the building include high margin specialty practices such as orthopedics, podiatry, dermatology and geriatrics.
The 404-bed Del E. Webb Medical Center is a Level III trauma center with 60 percent inpatient market share in desirable Northwest Phoenix and is the eighth largest hospital in the Phoenix MSA. The Hospital is a major contributor to Banner’s financial success generating over $375 million in net patient revenue in 2022 (DefinitiveHC).
The opportunity offers an investor a desirable long-term cash flow stream from a prestigious and highly rated market-leading health system in Phoenix with $1,830,744 in year one net operating income on a favorable triple net lease inclusive of 3.0 percent annual rent escalations. The Property will be conveyed fee simple and free of any mortgage encumbrances.
Caractéristiques de l'actif
Points clés d'investissement
- 76,281 rentable square foot, Class A medical office building with cancer center and ambulatory surgery center on the campus of the Banner Del E Webb Medical Center in Sun City West, Arizona
- 12-year net lease with Banner Health (AA- rated) with 3% annual rent escalation
- Highly profitable services and practices including a Banner MD Anderson Cancer Center, a surgery center, orthopedics, and gastrointestinal
- On campus of one of Banner’s most profitable medical centers with over $375 million in net patient revenue and strong operating cash flow margin
- Largest private employer and integrated health system in Arizona operating in six states with 2022 net patient revenue of $8.8 billion and 30 hospitals
- Market leader in Sun City West with 60 percent market share and only acute care hospital provider in Sun City West and Sun City