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Multi Tenant Medical Offering Memorandum for Sale | Investment Opportunity 1609 Woodbourne WOODBOURNE PROFESSIONAL CENTER BUILDING 100, LEVITTOWN, PA

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Multi Tenant Medical Offering Memorandum for Sale | Investment Opportunity 1609 Woodbourne WOODBOURNE PROFESSIONAL CENTER BUILDING 100, LEVITTOWN, PA Multi Tenant Medical Offering Memorandum For Sale | Investment Opportunity 1609 Woodbourne WOODBOURNE PROFESSIONAL CENTER BUILDING 100, LEVITTOWN, PA PRESENTED BY: Jeff Algatt Senior Vice President, Investment Services DIRECT +1 610 557 0180 EMAIL [email protected] Matthew Shanahan Senior Vice President, Office Division DIRECT +1 215 928 7560 EMAIL [email protected] 1609 WOODBOURNE ROAD | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 1 Table of Contents CONTACT Inspections will be arranged by appointment only > INVESTMENT SUMMARY with the Owner’s Exclusive Agents: > PROPERTY INFORMATION Jeff Algatt Senior Vice President, Investment Services Regional and Local Map ....................................................................................................... 5 DIRECT +1 610 557 0180 Aerial .................................................................................................................................. 6 EMAIL [email protected] Property Description ........................................................................................................... 8 Matthew Shanahan Floor Plan ............................................................................................................................ 9 Senior Vice President, Office Division DIRECT +1 215 928 7560 Photos ................................................................................................................................. 10 EMAIL [email protected] > TENANCY Tenant Descriptions ............................................................................................................. 15 CONFIDENTIALITY AGREEMENT Rent Roll .............................................................................................................................. 16 Colliers’ Confidentiality Agreement, which is available from the Listing Agents, must be completed and returned by > FINANCIAL ANALYSIS interested principals in order to receive the Confidential Cash Flow & Assumptions .................................................................................................. 17 Offering Memorandum. > AREA OVERVIEW Central/Lower Bucks County & Middletown ........................................................................ 18 OFFERING PROCEDURE Demographic Analysis ......................................................................................................... 22 Offers may be submitted at any point during the marketing process, although a deadline for offers may be established at a later date. All submissions > OFFICE & HEALTHCARE MARKET must be emailed to the listing agent. In addition to the Office Market Update ........................................................................................................... 23 terms of an offer, the Owner and Colliers nternational will give consideration to the demonstrated ability of Investor Activity................................................................................................................... 25 the purchaser to complete the transaction. Offers Area Healthcare Overview .................................................................................................. 26 should be in the form of a non-binding letter of intent St. Mary Medical Center and Trinity Health Overview ........................................................ 28 specifying at least the following: • Offered Price COLLIERS INTERNATIONAL • Earnest Money Deposit(s) Ten Penn Center • Study Period (if any) 1801 Market Street, Suite 550 Philadelphia, PA 19103 • Contingencies (if any) +1 215 925 4600 • Time of Closing www.colliers.com/philadelphia • References • List of Real Estate Owned • Sources of Funds (Equity and Debt) 1609 WOODBOURNE ROAD | DISCLAIMER Materials contained in this Investment Offering are confidential, furnished solely for the purpose of considering the “AS IS” quisitionac of 1609 Woodbourne Road, Levittown, PA described herein and are not to be used for any other purpose or to be made available to any other person without the express written consent of Colliers International and Owner. No representations, expressed or implied are made as to the foregoing matters by Owner, Owner’s property management/ leasing agent, Colliers or any of their officers, employees, affiliates and/or agents. See full confidentiality and disclaimer statement. 1609 WOODBOURNE ROAD | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 2 INVESTMENT SUMMARY The Offering Colliers International, as exclusive Investment Highlights: agent of the Owner, is pleased to offer for sale to qualified investors • Healthcare Related Offices in a Destination Office Park the medical office building located • Major Health System and Fortune 500 Credit Leases at 1609 Woodbourne Road in Levittown, Pennsylvania 19057. • Long Term Established Medical Practice List Price is $1,800,000. • Additional Complementary Tenants This 7,750-square foot condomin- • Strong Location: Population, Income, Amenities, ium property is 100% occupied by Transportation three tenants whose leases expire • Offered Free and Clear of Debt variously in the next three years, but based on their tenure and success at the Property are Vital Data projected to continue renewing 1609 Woodbourne Road, Levittown, PA their respective leases. Address 19057, Bucks County Building Area 7,750 Rentable Square Feet Langhorne Physician Services, Quest Two of the three tenants offer investment grade credit: Tenants Diagnostics, Hornbeck Chiropractic % Leased 100% • Trinity Health (parent of Langhorne Physician Services d/b/a Woodbourne Family Practice) is a national Catholic health system with 93 hospitals and 121 continuing care facilities, home care Use Medical Offices agencies and outpatient centers in 22 states supporting 131,000 employees. For the year ended Year Built 1988 June 30, 2016, Trinity Health reported unrestricted revenue of $16.3 Billion and total assets of Title Condominium $23.4 billion. Woodbourne Family Practice has occupied 6,085 square feet since 1998 under a 2017 NOI $146,020 ($18.84 Per Rentable SF) lease that expires April 19, 2019 but provides for an automatic two-year term extension through Price $1,800,000 April 2021. Price Per SF $232 Per Rentable SF • Quest Diagnostics was founded in 1967 and is now a publicly traded (NYSE -DGX) member of the Debt Service $79,729 Fortune 500 and the S&P 500, with approximately 44,000 employees worldwide, more than $7 Equity $630,000 billion in annual revenue and offers access to diagnostic testing services for cancer, Cap Rate 8.1% cardiovascular disease, infectious disease and neurological disorders. Quest has leased 1,000 Cash-on-Cash 10.5% square feet in the Property since 2004 and is now in its third extension term which expires June 30, 2018. 1609 WOODBOURNE ROAD | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 3 Patient Check-in Area INVESTMENT SUMMARY • Hornbeck Chiropractic and Rehabilitation, PC leases 665 square feet and shares Langhorne’s Offers should be in the form of a non-binding letter waiting room under a lease that began March 1, 2017 and continues until 2/28/2020. of intent specifying at least the following: • Offered Price The Property is one of five single • Earnest Money Deposit(s) story office condominium build- • Study Period (if any) ings constructed in the late 1980’s • Contingencies (if any) and known as The Woodbourne • Time of Closing Campus, a familiar concentration Bldg 100 of complementary medical, health • References care and professional offices. • List of Real Estate Owned The Property itself is comprised • Sources of Funds (Equity and Debt) of ten condominium units, all owned by the seller. Levittown is a densely populated, affluent submarket in Lower Bucks County that has grown CONTACT from its famous 1950’s roots as Inspections will be arranged by appointment only the nation’s first planned commu- with the Owner’s Exclusive Agents: nity to an established, diverse and amenity rich location anchored by Northeast Philadelphia on the south and Lower Makefield/Yard- Jeff Algatt ley’s explosive development to the north. Senior Vice President, Investment Services DIRECT +1 267 252 0191 Based on contract rents, historical operating expenses, and available market rate financing, at List EMAIL [email protected] Price the Offering is projected to yield an 8.1 percent unleveraged operating return (“cap rate”) and a 10.5 percent leveraged return (“cash-on-cash”) in the Purchaser’s first year of ownership. Matthew Shanahan Senior Vice President DIRECT +1 215 928 7560 EMAIL [email protected] 1609 WOODBOURNE ROAD | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 4 PROPERTY INFORMATION REGIONAL MAP Yardley Newtown 413 Trenton 295 Warminster Langhorne Levittown Willow Grove PA Bensalem Jenkintown Bristol Burlington 295 NJ NORTH NORTH 1609 WOODBOURNE ROAD | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 5 PROPERTY INFORMATION LOCAL MAP Falls Twp SEPTA R3 Woodbourne Oxford Valley Langhorne Fairless Hills Middletown Twp Tullytown NORTH NORTH 1609 WOODBOURNE ROAD | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 6 PROPERTY INFORMATION AERIAL IMAGE Woodbourne Road Office Campus 500 300 400 200 100 WOODBOURNE ROAD NORTH 1609 WOODBOURNE ROAD | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 7 PROPERTY INFORMATION Property Description > PROPERTY > AGE Woodbourne Road Office Campus Built 1988 Building 100, consisting of ten (10) professional office condominium units > PARKING Parking is common with other units > PROPERTY ADDRESS 1609
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