Address: 14400 North 87th Street
Year Built: 1999 / 2016
Building SF: 136,000 SF
Acquisition Date: April 2024
Projected Hold Period:
3.0 Years
Acquired at an 8.2% cap on existing rent, $309 per rsf.
- Premiere Class A office asset within the Scottsdale, Arizona metropolitan statistical area (“MSA”).
- 100% leased to a tenant with a very strong balance sheet, weighted average lease term (“WALT”) of 9+ years, with no termination rights and annual rent increases.
- Strategically serves as the regional extension to the Scottsdale headquarters of Vanguard, an $8 trillion+ AUM financial services firm and global leader in investment management, ETFs, and mutual funds with over 30 million investors across the globe.
- Value-add investment returns for core-plus type risk profile with a steady income stream and attractive cash-on-cash returns.
