Adtalem - Miramar_Property for Sale
Adtalem - Miramar_Property for Sale
10315 USA Today Way, Miramar, FL, 33025, US

Adtalem - Miramar

Asset description

Jones Lang LaSalle, Inc. (“JLL”) is pleased to present the opportunity to acquire Adtalem Miramar (the “Property”), a 56,462 square foot, single-tenant building 100% NNN leased to Adtalem Global Education (the “Tenant”) and strategically located in Miramar, FL. Adtalem Global Education (NYSE: ATGE, S&P: BB), is a well capitalized, globally recognized education provider, managing 5 scholastic institutions and hundreds of campuses in multiple countries. The Property was fully repositioned by current ownership to the Tenant’s specifications, with $12.5M+ additionally invested by the Tenant. In addition to boasting a market-leading 5.2 per 1,000 SF parking ratio, the Property has been completely modernized including new HVAC units and upgraded elevators, restrooms, and common areas. Along with ~300 students & ~100 facilty/staff, the mission critical location houses executives and regional leadership serving as the regional HQ for the company’s Caribbean footprint, Ideally located equidistant to the major CBD’s of Miami and Fort Lauderdale, with a population of 2.4M+ people within a 30 minute drive, Adtalem is well positioned to capitalize on the projected nearly 60,000 nurse shortage in Florida.


The Offering presents an exceptional opportunity to acquire a 100% NNN leased asset with long-term contractual and passive income on 7-acres of land in South Florida, the nation’s hottest real estate market.

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Attributes

Building area gross
56,462 sf
Land area gross
7 acres
Zoning
PID
Floors
2 floors
Year built
1986
Year renovated
2022
Parking spaces
309
WALT
10.5 years

Media

Investment highlights

  • 56,462 square foot, single-tenant building on a 7-acre site within the Miramar Park of Commerce.
  • 100% NNN leased to Adtalem Global Education (NYSE: ATGE, S&P: BB), a well capitalized, globally recognized education provider, managing five scholastic institutions and hundreds of campuses in multiple countries.
  • Long-term, 10+ year, NNN lease with minimal landlord responsibility and 2.5% annual rent increases
  • Strategically located in the City of Miramar (Broward County), equidistant to both Miami and Fort Lauderdale CBDs, with a population of 2.4M+ people within a 30 minute drive.
  • Less than a 20-minute drive from 3 major hospitals (Memorial Hospital West, Memorial Hospital Pembroke Pines, & Memorial Hospital Miramar).
  • The Property was fully repositioned by current ownership to the Tenant’s specifications, with $12.5M+ additionally invested by the tenant.
  • In addition to boasting a market-leading 5.2 per 1,000 SF parking ratio, the Property has also been completely modernized including new HVAC units and upgraded elevators, restrooms, and common areas.
  • The mission critical location houses Chamberlain University Nursing School, as well as executives and regional leadership for Chamberlain University and Ross University School of Medicine, serving as the regional HQ for Adtalem’s Caribbean footprint.
  • Tenant is capitalizing on the intense nursing demand in the area: Florida is projected to be short nearly 60,000 nurses by 2035.
Adtalem - Miramar 4_Property for Sale
Adtalem - Miramar 4_Property for Sale

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Last updated
Jun 17, 2024