Offering Memorandum > For Sale > Owner-User Investment Opportunity

1940 W. Glendale Ave. PHOENIX, 85021 PRESENTED BY Primary Contact: Secondary Contact: COLLIERS INTERNATIONAL Philip Wurth, CCIM Alexandra Loye 8360 E. Raintree Dr. Suite 130 Executive Vice President Senior Vice President Scottsdale, AZ 85260 480 655 3310 602 222 5169 480 596 9000 [email protected] [email protected] www.colliers.com/arizona

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 1 TABLE OF CONTENTS

1 2 3 4 INVESTMENT PROPERTY FINANCIAL LOCATION SUMMARY INFORMATION ANALYSIS OVERVIEW

PROPERTY OVERVIEW PROPERTY PHOTOGRAPHS TENANT PROFILE CITY OF PHOENIX | OPPORTUNITY PROPERTY MAPS FINANCIAL SUMMARY AREA DEMOGRAPHICS HIGHLIGHTS FLOOR PLAN SUMMARY

PRESENTED BY Philip Wurth, CCIM Executive Vice President 480 655 3310 [email protected]

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERSCOLLIERS INTERNATIONAL INTERNATIONA LP. 22 1940 W. Glendale Ave.

1 INVESTMENT SUMMARY

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERS INTERNATIONAL 3 INVESTMENT SUMMARY>Project Overview 1940 W. GLENDALE AVE. • PHOENIX ARIZONA Overview Offering Summary 1940 W. Glendale Avenue is a 1.44 acre parcel comprised of a single-story building with an adjacent surface parking lot. The building totals approximately 13,969 SF and was built in 2018. The property is surrounded by established residential and retail development and is part Price: $3,400,000 of the 19North redevelopment area. The building is on the northwest corner of the signalized Price per Square Foot: $243.40 intersection at Glendale and 19th Avenues and offers convenient access to I-17 and SR-51. Banner Urgent Care is open daily from 8:00 a.m. to 9:00 p.m. The urgent care practice brings Occupancy: 31.1% individuals and families to the center each day who would frequent adjacent medical facilities NOI: $158,000.08 including: imaging, dialysis, OB/GYN, ENT, pediatrics, ophthalmologist or optometrist and physical or occupational therapy. The property is situated on the light rail transit corridor and 1940 W. Glendale Avenue Address: is adjacent to a passenger station. This area experiences a high volume of automobile and Phoenix, AZ 85021 pedestrian traffic each day = 135,067 vehicles per day and 2,300 light rail passengers per day. Building Size: ±13,969 SF The Opportunity Land Size: 62,789 SF / 1.44 AC 1940 W. Glendale Avenue is ideally situated for an owner user or investor looking for value added Year of Construction: 2018 upside. Banner Urgent Care occupies 5,000 SF of the building, leaving the adjacent 8,969 SF vacant for an owner/user to occupy or investor to lease up. The vacant space is in shell condition Tax Assessor Parcel Number: 157-17-039L and can easily accommodate retail, service industry or office uses. A truckwell runs alongside Zoning: C-3 the north side of the building. No. of Stories: 1 Property Highlights 2019 Taxes: $41,806.00 > Newer construction with contemporary finishes Construction: Block and Steel > Strong tenant identity with direct frontage > Ingress/Egress on 19th and Glendale Avenues > Convenient access to I-17 and SR-51 > Close to mature neighborhoods and established retail and dining > Located in Phoenix’s 19North Retail Corridor > Decreasing vacancy in trade area > Building Signage available fronting 19th and Glendale Avenues > Surface parking lot (89 spaces) > Adjancent to the Light Rail Transit Station at 19th and Glendale Avenues > Truckwell with roll-up door

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERSCOLLIERS INTERNATIONAL INTERNATIONA LP. 44 1940 W. Glendale Ave.

> Property Information

2 PROPERTY INFORMATION

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERS INTERNATIONAL 5 PROPERTY INFORMATION>Project Photos 1940 W. GLENDALE AVE. • PHOENIX ARIZONA

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERSCOLLIERS INTERNATIONAL INTERNATIONA LP. 66 PROPERTY INFORMATION>Project Photos 1940 W. GLENDALE AVE. • PHOENIX ARIZONA

PROPERTY PHOTOGRAPHS, continued from page 9

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERSCOLLIERS INTERNATIONAL INTERNATIONA LP. 77 PROPERTY INFORMATION>Aerials 1940 W. GLENDALE AVE. • PHOENIX ARIZONA

NORTH PEORIA AVE. MOUNTAIN PARK

PHOENIX HONORHEALTH

35TH AVE. METROCENTER

19TH AVE. JOHN C. LINCOLN

CENTRAL AVE. MEDICAL CENTER

15TH AVE. (4 MILES / 9 MINUTES) 7TH AVE. 7TH ST.

DUNLAP AVE. DREAMY DRAW RECREATION AREA

CUBE SMART PHOENIX LIGHTRAIL SELF-STORAGE

LEXINGTON NORTHERN AVE. PHOENIX LIGHTRAIL SERVICES PHOENIX MOUNTAIN PRESERVE

SUBJECT PROPERTY 19TH AVE.

GLENDALE AVE. 1940 W. GLENDALE AVE. FRY’S MARKETPLACE WENDY’S

GLENDALE AVE.

BETHANY HOME RD. ABRAZO CENTRAL ARIZONA CAMPUS BILTMORE GRAND CANYON (1.3 MILES / 3 MINUTES) UNIVERSITY

CAMELBACK CORRIDOR MIDTOWN

CAMELBACK RD. PHOENIX LIGHTRAIL

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERSCOLLIERS INTERNATIONAL INTERNATIONA LP. 88 PROPERTY INFORMATION>Aerials (northwest) 1940 W. GLENDALE AVE. • PHOENIX ARIZONA

1940 W. GLENDALE AVE.

MONUMENT SIGN

MONUMENT SIGN

GLENDALE AVENUE - 80,632 VPD

19TH AVENUE - 54,435 VPD

METRO LIGHT RAIL TRANSIT.

LIGHT RAIL TRANSIT STATION

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERS INTERNATIONAL 9 PROPERTY INFORMATION>Aerials (south) 1940 W. GLENDALE AVE. • PHOENIX ARIZONA

DOWNTOWN PHOENIX

FRY’S MARKETPLACE

LIGHT RAIL TRANSIT STATION BARRY’S QUIK TRIP 2,300 PASSENGERS ACE HARDWARE PER DAY FIRSTBANK ABRAZO CENTRAL CAMPUS - 1 MILE

4 MILES TO SR 51 GLENDALE AVENUE - 80,632 VPD I-17 - 2.5 MILES MONUMENT SIGN

1940 W. GLENDALE AVE. 7-11 CONVENIENCE STORE WENDY’S MONUMENT SIGN

19TH AVENUE - 54,435 VPD CUBESMART SELF STORAGE LEXINGTON SERVICES

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERS INTERNATIONAL 910 PROPERTY INFORMATION>Valley Location 1940 W. GLENDALE AVE. • PHOENIX ARIZONA

CAVE CREEK CAREFREE CAREFREE HW

W SCOTTSDALE P

T D N R RD A S

E LE A E E R

HAPP VALLE RD DA L C P

MA RD

E TS E

V PI A OT A C L SC

BELL RD BELL RD E SURPRISE E AV AV

RD SUN FOUNTAIN LN RD 7TH ST 51ST

CITY 67TH ON IELD HILLS TT HF PEORIA AVE SHEA BLVD REEMS CO TC LI

PEORIA NORTHERN AVE PARADISE

E H HW AV VALLEY BUS GLENDALE CAMELBAC RD CAMELBAC RD CENTRAL BUCKEYE P H O E N I MCELLIPS RD VAN BUREN ST BUCEE RD MESA E

E MAIN ST E AV AV AV

7TH ST TEMPE 51ST 7TH 67TH BASELINE RD GOODYEAR BASELINE RD RD

RAL GILBERT RU RD H RD R CHANDLER RT WO POWE LS

QUEEN CREE RD EL

QUEEN CREEK RIGGS RD

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERS INTERNATIONAL 11 PROPERTY INFORMATION>AREA HOSPITALS 1940 W. GLENDALE AVE. • PHOENIX ARIZONA Hospitals In 10 Mile Radius

1 St Josephs Westgate Medical Center 2 Banner Estrella Medical Center 3 4 Encompass Health Valley of the Sun Rehabilitation 5 Aurora Behavioral Health System - West 6 Banner Thunderbird Medical Center 7 Valleywise Behavioral Health Center - Maryvale 8 HonorHealth Deer Valley Medical Center 9 Quail Run Behavioral Health 10 CORE Institute Specialty Hospital 11 Abrazo Central Campus 12 Haven Behavioral Hospital of Phoenix 13 Phoenix Area Indian Health Service 14 Banner - University Medical Center Phoenix 15 St Josephs Hospital and Medical Center 16 Phoenix Childrens Hospital 17 Abrazo Arizona Heart Hospital 18 Phoenix VA System 19 Phoenix Indian Medical Center 20 Calvary Healing Center 21 HonorHealth John C Lincoln Medical Center 22 Arizona State Hospital 23 Valleywise Health Medical Center 24 OASIS Hospital 25 Valley Hospital 26

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERSCOLLIERS INTERNATIONAL INTERNATIONA P.L 1212 PROPERTY INFORMATION>Floor Plan Floor1940 W. GLENDALE Plans AVE. • PHOENIX- Second ARIZONA Floor Floor Plan

TRUCKWELL

AVAILABLE 2,000 - 8,969 SF SHELL-DEMISABLE 19TH AVE.

SUITE 101 ±5,000 SF

GLENDALE AVE.

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERSCOLLIERS INTERNATIONAL INTERNATIONA P.L 1313 1940 W. Glendale Ave.

> Property Information

3 FINANCIAL ANALYSIS

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERS INTERNATIONAL 14 FINANCIAL ANALYSIS>Operating Information 1940 W. GLENDALE AVE. • PHOENIX ARIZONA Tenant Profile

Banner Urgent Care treats non-emergency medical problems that include wound care, insect bites, and respiratory infections to name a few. Their services include flu shots and other vaccinations, on-site x-ray, stitches and more. As part of Banner Health system, the urgent care team provides access to advanced care from their family of medical professionals including specialist follow-ups. Banner Urgent Care is open daily from 8:00 a.m. – 9:00 p.m.

LEASE INFORMATION

Suite Size: ±5,000 SF Lease Term: 144 months (12 years) Lease Commencement: June 1, 2017 Lease Expiration: May 31, 2029 Lease Type: NNN Option to Renew: Two – 5-year renewal options Monthly Base Rent: $11,666.67 Additional Income: N/A Total Monthly Income: $11,666.67 Option to Purchase: N/A

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERSCOLLIERS INTERNATIONAL INTERNATIONA P.L 1515 FINANCIAL ANALYSIS>Operating Information 1940 W. GLENDALE AVE. • PHOENIX ARIZONA Financial Summary

Conventional Loan Option Total Square Footage of Building: 13,969

Price Purchase Price Per S.F. $3,400,000.00 Cost of Tenant Improvements ($90 x 8,969 sf vacant suite) $1,257,210.00 Total Cost $4,657,210.00

Conventional Loan 10% down payment, 25 yr ammortized, 4% interest* $465,721.00 loan amount $4,191,489.00 Monthly Pmts (P & I only) ($22,124.22) Cost per sq. ft. year NNN $19.01

Cash Flow: Monthly Loan Pmts ($22,124.22) Add Monthly Lease Income - Banner Health $12,833.34

Buyers Total Cost Per month ($9,290.88) Annual Cost ($111,490.60)

Buyers Cost psf per year to own vacant 8,969 s.f. $7.98

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERSCOLLIERS INTERNATIONAL INTERNATIONA P.L 1616 Halsted1940 W. MedicalGlendale Plaza Ave.

> Property Information

4 LOCATION OVERVIEW

Halsted1940 W. MedicalGLENDALE Plaza AVE. | OFFERING | OFFERING MEMORANDUM MEMORANDUM COLLIERS INTERNATIONAL 1617 LOCATION OVERVIEW>City of Phoenix | Hospitals 1940 W. GLENDALE AVE. • PHOENIX ARIZONA Phoenix Economic Overview

MARKET OVERVIEW

The Greater Phoenix metro area consists of Maricopa County and Pinal County, which together include nearly 4.8 million residents. As of 2020, the US Census Bureau ranks Phoenix as the 12th largest Metropolitan Statistical Area (MSA) in the United States. The Phoenix metro area is by ABRAZO CENTRAL CAMPUS far the largest metro area in the Mountain West, with a HONORHEALTH JOHN C. LINOCLN MEMORIAL CENTER population that outpaces Denver by nearly one million residents, and more than double the size of Las Vegas. The Abrazo Central Campus has provided hospital care in John C. Lincoln Medical Center is a 262-bed, full-service region is also growing at a robust pace. In 2019, the Central Phoenix since 1963. As a 221-bed acute care and hospital. It’s a leader in robotic and scarless surgery and population in Maricopa County expanded by more than teaching hospital, we offer a complete range of healthcare has extensive cardiology and heart care services with a 88,000 residents, marking the largest population addition of services, from emergency care, oncology, orthopedic, radiation-free, 3D heart mapping system. The hospital is an any county in the United States. inpatient rehabilitation, mammography, to cardiac care and American College of Surgeons-verified Level I Trauma neurology. Center, a Primary Stroke Center, and an accredited Chest Primary employment regions inlude Downtown Phoenix, Pain Center. General surgery residents are trained here. the Camelback Corridor, the Southeast Valley cities (Tempe, • Type of Hospital – Short Term Acute Hospital Chandler, Mesa and Gilbert) and Scottsdale. Populations in • Member of – Other services include a specialty surgery unit to care for the West Valley cities, including Buckeye, Avondale, Glendale • Year opened – 1963 orthopedic, urology, neurology and other surgery patients, and Surprise, are usually smaller than those to the north • Licensed Beds – 221 inpatient and outpatient rehabilitation services, critical care and the east, but are growing more rapidly than most • Total Employees – 5,200 unit, interventional radiology, and inpatient and outpatient established areas in the Phoenix MSA. Growth in the West • Total Physicians – 775 medical imaging. Valley cities is traditionally in the form of single-family housing rather than multifamily housing. In addition to • Type of Hospital – Short Term Acute Hospital housing-related industries, the West Valley economy is • Member of – HonorHealth heavily influenced by the continued presence of Luke Air • Year opened – 1954 Force base, which has an annual economic impact of more • Licensed Beds – 262 than $2.2 billion. • Total Employees – 1,400 • Total Physicians – 2,337

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERSCOLLIERS INTERNATIONAL INTERNATIONA P.L 1818 LOCATION OVERVIEW>Area Demographics 1940 W. GLENDALE AVE. • PHOENIX ARIZONA Demographics POPULATION MEDIAN HH INCOME VPD 2,300 Passengers 1 Mile 25,123 1 Mile $40,116 135,067 at 20 Minutes per day at Glendale Ave. 3 Miles 213,284 3 Miles $42,005 Glendale Ave to Sky Harbor and 19th Ave. Lightrail 5 Miles 475,478 5 Miles $43,183 and 19th Ave. International Airport Transit Station

31515

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 19 CONFIDENTIALTY AGREEMENT> 1940 W. GLENDALE AVE. • PHOENIX ARIZONA

CONFIDENTIALITY & DISCLAIMER STATEMENT

This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of 1940 W. Glendale Ave., Phoenix, AZ 85021. This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Owner or the Property, to be all-inclusive or to contain all or part of the information that prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition, and other factors beyond the control of the Owner and Colliers International. Therefore, all projections, assumptions, and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. Neither the Owner nor Colliers International AZ, LLC, a Delaware limited liability company (hereinafter referred to as “Colliers” or “Colliers International”), nor any of their respective directors, officers, affiliates, or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents.

The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time, with or without notice, which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered, and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or Colliers International. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or Colliers International.

In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agree- ments referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to Colliers International.

Primary Contact: Secondary Contact: Philip Wurth, CCIM Alexandra Loye COLLIERS INTERNATIONAL Executive Vice President | Office Properties Senior Vice President 8360 E. Raintree Dr. Suite 130 Direct 480 655 3310 | Mobile 602 369 9261 Direct 602 222 5169 | Mobile 602 625 4220 Scottsdale, AZ 85260 Main 480 596 9000 | Fax 480 948 0502 Main 480 596 9000 | Fax 480 948 0502 480 596 9000 www.colliers.com/arizona [email protected] [email protected]

1940 W. GLENDALE AVE. | OFFERING MEMORANDUM COLLIERS INTERNATIONAL 20