PREMIER OUTPATIENT MEDICAL INVESTMENT OPPORTUNITY | PASADENA'S SOUTH LAKE DISTRICT
* ±88.7% leased best-in-class garden style outpatient medical campus located in the premier South Lake Avenue District of Pasadena, class A location.
* Durable Cash Flow - Pro Forma NOI totals $1.80 million during the first year of ownership and is expected to grow ±63% during the 10-year hold period.
* In-place rents are approximately 7% below market. With a medical office vacancy of 5.8% in Pasadena, demand would drive accelerated rent growth and help push yields with lease-up of vacancies.
* Diverse and Committed Tenancy – Stable diverse cash flow from 41 medical office tenants, more than two-thirds of which have been at the property for 5 years or more.
* Limited rollover risk, with no tenant occupying more than 5% of the project.
* Highest parking ratio and best access of any building within the competitive set. Parking ratio is 3.75/1,000 RSF.
EXCELLENT OUTPATIENT MEDICAL LOCATION
* Situated in Pasadena’s South Lake neighborhood, the project is in a highly desirable location and Pasadena’s most walkable neighborhood, with a neighborhood Walk Score of of 96 out of 100, a “Walker’s Paradise.”
* The premier South Lake Avenue District of Pasadena offers more than 700 restaurants and retailers, all within walking distance.
* In addition to excellent regional access by way of the 210 (Foothill), 134 (Ventura) Freeways and 110 (Arroyo Seco) Parkway, the project is just a 12-minute walk from the Metro A Line Lake Station.