Navigation Links
NNN Healthcare/Office REIT Acquires Tucson Medical Office Portfolio in Tucson, Arizona

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. Asset management services will be provided by NNN Realty Advisors, Inc.

As of November 15, 2007, NNN Healthcare/Office REIT has sold approximately 18.7 million shares of its common stock, excluding the shares issued under its distribution reinvestment plan, for more than $186 million through its initial public offering, which began in the third quarter of 2006.

NNN Healthcare/Office REIT offers a monthly distribution of 7.25 percent per annum and has made fifteen other geographically-diverse acquisitions:

-- Northmeadow Medical Center in Roswell, Georgia

-- East Florida Senior Care Center Portfolio in Jacksonville, Winter Park,

and Sunrise, Florida;

-- 2750 Monroe Boulevard in Valley Forge, Pennsylvania;

-- St. Mary Physicians Center in Long Beach, California;

-- Kokomo Medical Office Park in Kokomo, Indiana;

-- 1 and 4 Market Exchange in Columbus, Ohio;

-- Gwinnett Professional Center in Lawrenceville, Georgia;

-- Triumph Hospital Northwest and Triumph Hospital Southwest in Greater

Houston, Texas;

-- Thunderbird Medical Plaza in Glendale, Arizona;

-- Shakerag Medical Center and Yorktown Medical Center in Fayette County,


-- Commons V Medical Office Building in Naples, Florida;

-- Lenox Office Park Building G in Memphis, Tennessee;

-- The Gallery Professional Building in St. Paul, Minnesota;

-- Crawfordsville Medical Office Park and Athens Surgery Center in

Crawfordsville, Indiana; and

-- Southpointe Office Parke and Epler Parke I in Indianapolis, Indiana.

Including the purchase of the Tucson Medical Office Portfolio, NNN Healthcare/Office REIT has acquired a portfolio of properties valued in excess of $315 million.

NNN Realty Advisors, Inc., a nationwide commercial real estate asset management and services firm, is the sponsor of NNN Healthcare/Office REIT, Inc. NNN Realty Advisors and affiliates manage a growing portfolio of more than 39.1 million square feet of real estate, including approximately 10,100 apartment units, with a combined market value approaching $5.4 billion. NNN Realty Advisors and affiliates are currently buying and selling properties throughout the United States, offering a full range of commercial real estate investments, including tenant-in-common (TIC) programs for investors structuring tax-deferred (like-kind) exchanges under Section 1031 of the Internal Revenue Code, real estate investment trusts (REITs), value added property funds, and institutional investments.

SOURCE NNN Healthcare/Office REIT, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. NNN Healthcare/Office REIT Acquires St. Mary Physicians Center in Long Beach, California
2. NNN Healthcare/Office REIT Acquires 2750 Monroe Boulevard in Valley Forge, Pennsylvania
3. NNN Healthcare/Office REIT Acquires Northmeadow Medical Center in Roswell, Georgia
4. Cogdell Spencer Inc. Acquires Summit Professional Plaza I and II in Brunswick, Georgia
5. Omnicom Acquires Leading Healthcare Marketing Communications Firm in China
6. Food Bank For New York City Acquires FoodChange
7. Simcere Pharmaceutical Group Acquires a 51% Stake in Boda Pharmaceutical Co., Ltd.
8. UTC Power Acquires Dome-Tech Group
9. Concentra Acquires Assets of Renew Health & Wellness
10. DaVita Acquires Majority Stake in HomeChoice Partners, Inc.
11. Hologic Acquires Biolucent, Inc.
Post Your Comments:
(Date:11/26/2015)... ... November 26, 2015 , ... The Catalent Applied Drug Delivery ... to integrate dose form selection in early phase drug development. The first of ... and bringing together the UK’s emerging life sciences companies, corporate partners, and investors, ...
(Date:11/26/2015)... (PRWEB) , ... November 26, ... ... online platform for mental health and wellness consultation, has collaborated with Women’s ... holistically address their reader’s queries on topics on mental and emotional well-being ...
(Date:11/25/2015)... (PRWEB) , ... November 25, 2015 , ... Finnleo, a ... Christmas Eve on several models of traditional and far-infrared saunas. , For ... Spruce is the most traditional Finnish sauna wood, and Finnleo uses only European Grade ...
(Date:11/25/2015)... ... November 25, 2015 , ... On November 10, 2015, Bohrer ... Court of Connecticut on behalf of a home health care worker who provided companionship ... former home health care workers employed by Humana, Inc., Humana at Home, Inc., and ...
(Date:11/25/2015)... ... , ... On November 25, 2015, officials of Narconon Arrowhead , the ... of a new cutting edge recovery program that has been 50 years in the ... alcohol-addicted individuals with the purpose to free addicts from the symptoms and negative behaviors ...
Breaking Medicine News(10 mins):
(Date:11/25/2015)... WILMINGTON, N.C. , Nov. 25, 2015 /PRNewswire/ ... announces the planned investment of at least $15.8 ... in Wilmington, NC . The ... services capacity to meet the growing demands of ... Wilmington site expansion will provide up ...
(Date:11/25/2015)... Allergan plc (NYSE: AGN ) today announced that it ... State Attorney General,s Office to end the litigation ... with the Attorney General over the decision of Forest Laboratories, ... the now generic version of memantine immediate release tablets.  Under ... its counterclaims against New York , and ...
(Date:11/25/2015)... , Nov. 25, 2015 USP 800 ... drug preparations (e.g. pharmacists, pharmacy technicians, nurses, physicians, ... technicians). The chapter also covers all entities which ... pharmacies, hospitals, other healthcare institutions, patient treatment clinics, ... --> --> What is ...
Breaking Medicine Technology: