SANTA ANA, Calif., Nov. 27 /PRNewswire/ -- NNN Healthcare/Office REIT, Inc. has acquired the Tucson Medical Office Portfolio. The acquisition closed on November 20, 2007.
The Tucson Medical Office Portfolio consists of two separate medical facilities -- Desert Life Medical Plaza and 6261 North La Cholla Boulevard -- in Tucson, Arizona. Situated on nearly ten acres, the seven building portfolio totals more than 111,000 square feet and features a strong tenant roster, distinctive architecture and mature landscaping. Both properties are adjacent to Northwest Medical Center, a 300-bed full-service hospital that offers a full scope of inpatient and outpatient services.
Desert Life Medical Plaza consists of five one-story buildings and one two-story building totaling more than 56,000 square feet. Built in 1980 on more than five acres, the property has abundant parking with 280 parking spaces, providing a ratio of five spaces per 1,000 square feet.
6261 North La Cholla Boulevard is a two-story medical office building situated on nearly five acres. The approximately 55,000-square-foot property offers ample parking with 368 spaces, providing a ratio of 6.7 spaces per 1,000 square feet.
"Northwest Tucson has been one of the fastest growing areas of Tucson for the past ten years," explained Danny Prosky, vice president of acquisitions for NNN Healthcare/Office REIT, Inc. "The Tucson Medical Office Portfolio's location in a growing metropolitan region, along with its ready access to a major medical center, makes it an exceptional addition to our growing portfolio of medical properties.
The Tucson Medical Office Portfolio is approximately 66 percent leased, including tenants such as Fresenius Medical Care, Laboratory Corp of America and Genova Clinical Research.
NNN Healthcare/Office REIT purchased the Tucson Medical Office
Portfolio from unaffiliated third parties. Financing was provided by
LaSalle Bank National Association. Asse
|SOURCE NNN Healthcare/Office REIT, Inc.|
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