Newmark announces the sale of Edison Place located at 44555 Edison Road, in Maricopa. The 8,958-square-foot, 100% occupied healthcare and retail mixed-use real estate investment sold for $4,500,000 by Signal Healthcare, LLC.
Newmark’s Managing Directors Trisha Talbot, Kathleen Morgan and Tim Westfall and Associate Director Ryan Moroney represented Arizona-based Signal Healthcare, LLC in the sale of Edison Place. The single-story, NNN, retail PAD built in 2019 is fully leased by two healthcare tenants, SimonMed Imaging (SMI), one of the largest outpatient medical imaging providers and largest physician radiology practices in the U.S., and Heartland Dental, one of the leading dental support organizations in the United States. The building has remaining lease terms of 10 years with NNN lease structures and fixed annual rent increases.
“Newmark has been heavily involved throughout the full cycle of this project, from initial lease up, to site development, and ultimately the disposition of the asset,” noted Westfall. “This has been a dynamic opportunity to provide Signal Healthcare valued expertise from start to finish.”
The property is favorably positioned within the expanding community of Maricopa, one of the fastest growing communities in the US. Since 2000 the City of Maricopa has been in explosive growth mode. This historic community is reasonably close to Chandler, Tempe and Phoenix and offers more affordable housing, open spaces and a small community feel. The property sits on the hard corner of Maricopa’s busiest intersections.
“The Maricopa property is an example of how healthcare providers are occupying retail sites for convenient access and visibility for patients,” says Talbot.
With plentiful retailers surrounding the project, patients are able to access their outpatient providers during their typical daily activities. The area is set for planned and future retail development and hotels essential to the continual population growth.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”) (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
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