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Wixom Health Center +1 248 351 2014 29600 S

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Wixom Health Center +1 248 351 2014 29600 S Offered By: David Hesano CBRE Net Lease Properties Group Wixom Health Center +1 248 351 2014 29600 S. WIXOM RD. [email protected] WIXOM, MICHIGAN 48393 503 CLIFTON RD BETHEL PARK, PENNSYLVANIA AFFILIATED BUSINESS DISCLOSURE its contents; and you are to rely solely on your investigations and inspections of the Property CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related in evaluating a possible purchase of the real property. The Owner expressly reserved the entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the including, but not limited to, brokerage services, property and facilities management, Property, and/or to terminate discussions with any entity at any time with or without notice valuation, investment fund management and development. At times different Affiliates may which may arise as a result of review of this Memorandum. The Owner shall have no legal represent various clients with competing interests in the same transaction. For example, this commitment or obligation to any entity reviewing this Memorandum or making an offer to Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell purchase the Property unless and until written agreement(s) for the purchase of the Property Crow Company. Those, or other, Affiliates may express an interest in the property described have been fully executed, delivered and approved by the Owner and any conditions to the in this Memorandum (the “Property”) may submit an offer to purchase the Property and Owner’s obligations therein have been satisfied or waived. By receipt of this Memorandum, may be the successful bidder for the Property. You hereby acknowledge that possibility you agree that this Memorandum and its contents are of a confidential nature, that you will and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to hold and treat it in the strictest confidence and that you will not disclose this Memorandum disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In or any of its contents to any other entity without the prior written authorization of the Owner all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents the transaction described in this Memorandum and will not act in concert with or otherwise in any manner detrimental to the interest of the Owner or CBRE, Inc. If after reviewing this conduct its business in a way that benefits any Affiliate to the detriment of any other offeror Memorandum, you have no further interest in purchasing the Property, kindly return this or prospective offeror, but rather will conduct its business in a manner consistent with the law Memorandum to CBRE, Inc. and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum. DISCLAIMER CONFIDENTIALITY AGREEMENT This Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective This is a confidential Memorandum intended solely for your limited use and benefit in investors may require to evaluate a purchase of the Property. The information contained in determining whether you desire to express further interest in the acquisition of the Property. This this Memorandum has been obtained from sources believed to be reliable, but has not been Memorandum contains selected information pertaining to the Property and does not purport verified for accuracy, completeness, or fitness for any particular purpose. All information is to be a representation of the state of affairs of the Property or the owner of the Property (the presented “as is” without representation or warranty of any kind. Such information includes “Owner”), to be all-inclusive or to contain all or part of the information which prospective estimates based on forward-looking assumptions relating to the general economy, market investors may require to evaluate a purchase of real property. All financial projections and conditions, competition and other factors which are subject to uncertainty and may not information are provided for general reference purposes only and are based on assumptions represent the current or future performance of the Property. All references to acreages, relating to the general economy, market conditions, competition and other factors beyond square footages, and other measurements are approximations. This Memorandum describes the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other certain documents, including leases and other materials, in summary form. These summaries information provided and made herein are subject to material variation. All references may not be complete nor accurate descriptions of the full agreements referenced. to acreages, square footages, and other measurements are approximations. Additional Additional information and an opportunity to inspect the Property may be made available information and an opportunity to inspect the Property will be made available to interested to qualified prospective purchasers. You are advised to independently verify the accuracy and qualified prospective purchasers. In this Memorandum, certain documents, including and completeness of all summaries and information contained herein, to consult with leases and other materials, are described in summary form. These summaries do not purport independent legal and financial advisors, and carefully investigate the economics of this to be complete nor necessarily accurate descriptions of the full agreements referenced. transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS Interested parties are expected to review all such summaries and other documents of MEMORANDUM IS SOLELY AT YOUR OWN RISK. whatever nature independently and not rely on the contents of this Memorandum in any manner. Neither the Owner or CBRE, Inc, 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 2 Table of Contents 04 06 EXECUTIVE SUMMARY LOCATION OVERVIEW 10 15 FINANCIAL ANALYSIS MARKET & AREA OVERVIEW 3 I. Executive Summary 4 The Offering David Hesano, from the CBRE Net Lease Properties Group, is pleased to offer for sale the fee simple interest in a multi-tenant office building in Wixom, MI. The Wixom Health Center is located in the suburb of Wixom within affluent Oakland County. The office building is occupied 100% by three tenants; ATI Physical Therapy, Park Family Health Care, and Star Moon Massage Spa on a mix of gross and triple net (NNN) leases. Star Moon Massage Spa recently signed a three (3)-year extension at an increased rental rate. Both ATI Physical Therapy and Park Family Health Care have two (2), five (5)-year renewal options after their initial terms expires and both tenants have rent escalations throughout their initial terms. The income analysis uses the “Year 1 Period” of January 1st, 2021 through December 31st, 2021 and includes a 10-Year Cash Flow. The underwriting includes market leasing assumptions using a vacancy allowance and market rental rate based on a custom office market report for the four (4)-community area of Wixom, Novi, Farmington and Farmington Hills, MI. Please refer to the “Market Assumptions” in the package for more information. The asset is proposed to be a cash transaction and is offered free and clear of existing debt. Property Facts Investment Highlights 1) $1,300,000 Asking Price 29600 S. Wixom Rd. PROPERTY ADDRESS Wixom, MI 48393 2) First Year Net Operating Income (NOI) of $91,494 YEAR BUILT 1998 3) Priced below replacement cost; $116.30/SF 4) 100% Occupied by Three (3) Tenants TOTAL BUILDING AREA 11,178 SF 5) All Leases include Rent Bumps and/or Renewal Options PARKING 85 Surface Sapces 6) Underwriting includes ARGUS Market Leasing Assumptions LAND AREA 1.39 Acres 7) Offered Free and Clear of Debt 8) This intersection has seen continued growth in the retail and industrial sectors EXECUTIVE SUMMARY 5 II. Location Overview 6 Location Overview The subject property is situated at the northeast corner of Wixom Rd and West Rd approximately 27 miles northwest of the city of Detroit, less than 19 miles northeast of Ann Arbor, and less than three quarters (0.75) of a mile north of the Wixom Rd exit/on ramp of Interstate 96 (I-96). The 5-mile radius area is affluent reporting an average household income of $117,116 and over half the residents holding a Bachelor’s Degree or higher. The property is additionally located nearby other office buildings, numerous major industrial tenants, national retailers and education facilities including: - Eberspaecher North America - Hexagon Manufacturing Intelligence - UPS Customer Center - Meijer - Comcast Wixom Office - Sam’s Club - Integrated Systems Design - Target - Chase Bank - Detroit Catholic Central High School - ALDI - Menards - General RV Center - At Home - Duluth Trading Co. - TRIBAR Plant 5/6 - Cemedine Automotive North America - Nichia America Corporation Location Highlights 1) Situated at the NEC of Wixom Rd and West Rd 2) The Area in the 5-Mile Radius is Affluent with an average household income of over $117,000 3) Convenient access to I-96 and I-275 4) Located in a strong corridor home to Office, Industrial, Retail, Educational, and Medical users 5) Oakland County has the highest incomes and rates of higher education in the State of Michigan LOCATION OVERVIEW 7 Aerial Map Wixom Health Center N LOCATION OVERVIEW 8 Proximity Map Wixom Health Center N Southfield, MI Ann Arbor, MI DTW Airport Troy, MI Detroit, MI 19 Miles 30 Miles 30 Miles 30 Miles 32 Miles LOCATION OVERVIEW 9 III.
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