Overview

Description

Phoenix Center offers the investor the unique opportunity to acquire a mixed-used property that is anchored by two large national credit tenants:
 
* Sitel Group, an international company with over $2 Billion in annual revenue.
Leases 56,440 SF.

* Arkansas HMA Regional Service Center, LLC, a wholly owned affiliate of Community
Health Systems (NYSE: CYH) owner/operator of forty-three hospitals.
Leases 125,079 SF.

The property also has long term leases with Mercy Health Fort Smith and Goodwill Industries of Arkansas. Other notable tenants are Career Academy of Hair Design, and OK Foods, one of the world’s largest fully integrated chicken producers and distributor with annual sales of $954 Million.

The secured in-place NOI of over $2 million and TI reserves of over $800,000 in cash that could be included in the sale will provide the investor with opportunity benefit by the substantial upside in leasing vacancies, upgrading short-term retail leases that are leased at below-market rents and sale, lease or build-to-suit of 4 vacant lots.
 
Phoenix Center benefits from the ease of access to the larger market via US 71 and I-540 with the Fort Smith Regional Airport being only three miles away.

Highlights

• Secure Cashflows & Substantial Value-Add Opportunity
• 83% of Rents from National or Regional Credit Tenants
• 73% Leased … Upside in Leasing Vacancies
• $6 Million in Recent Capital Improvements
• 4 Vacant Out Parcels for Sale/Development
• 249,777 in MSA

Documents

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