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The Tucson Medical Office Portfolio consists of two separate medicalfacilities -- Desert Life Medical Plaza and 6261 North La Cholla Boulevard --in Tucson, Arizona. Situated on nearly ten acres, the seven building portfoliototals more than 111,000 square feet and features a strong tenant roster,distinctive architecture and mature landscaping. Both properties are adjacentto Northwest Medical Center, a 300-bed full-service hospital that offers afull scope of inpatient and outpatient services.
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Desert Life Medical Plaza consists of five one-story buildings and onetwo-story building totaling more than 56,000 square feet. Built in 1980 onmore than five acres, the property has abundant parking with 280 parkingspaces, providing a ratio of five spaces per 1,000 square feet.
6261 North La Cholla Boulevard is a two-story medical office buildingsituated on nearly five acres. The approximately 55,000-square-foot propertyoffers ample parking with 368 spaces, providing a ratio of 6.7 spaces per1,000 square feet.
"Northwest Tucson has been one of the fastest growing areas of Tucson forthe past ten years," explained Danny Prosky, vice president of acquisitionsfor NNN Healthcare/Office REIT, Inc. "The Tucson Medical Office Portfolio'slocation in a growing metropolitan region, along with its ready access to amajor medical center, makes it an exceptional addition to our growingportfolio of medical properties.
The Tucson Medical Office Portfolio is approximately 66 percent leased,including tenants such as Fresenius Medical Care, Laboratory Corp of Americaand Genova Clinical Research.
NNN Healthcare/Office REIT purchased the Tucson Medical Office Portfoliofrom unaffiliated third parties. Financing was provided by LaSalle BankNational Association. Asset management services will be provided by NNN RealtyAdvisors, Inc.
As of November 15, 2007, NNN Healthcare/Office REIT has sold approximately18.7 million shares of its common stock, excluding the shares issued under itsdistribution reinvestment plan, for more than $186 million through its initialpublic offering, which began in the third quarter of 2006.
NNN Healthcare/Office REIT offers a monthly distribution of 7.25 percentper annum and has made fifteen other geographically-diverse acquisitions:
Including the purchase of the Tucson Medical Office Portfolio, NNNHealthcare/Office REIT has acquired a portfolio of properties valued in excessof $315 million.
NNN Realty Advisors, Inc., a nationwide commercial real estate assetmanagement and services firm, is the sponsor of NNN Healthcare/Office REIT,Inc. NNN Realty Advisors and affiliates manage a growing portfolio of morethan 39.1 million square feet of real estate, including approximately 10,100apartment units, with a combined market value approaching $5.4 billion. NNNRealty Advisors and affiliates are currently buying and selling propertiesthroughout the United States, offering a full range of commercial real estateinvestments, including tenant-in-common (TIC) programs for investorsstructuring tax-deferred (like-kind) exchanges under Section 1031 of theInternal Revenue Code, real estate investment trusts (REITs), value addedproperty funds, and institutional investments.-- Northmeadow Medical Center in Roswell, Georgia -- East Florida Senior Care Center Portfolio in Jacksonville, Winter Park, and Sunrise, Florida; -- 2750 Monroe Boulevard in Valley Forge, Pennsylvania; -- St. Mary Physicians Center in Long Beach, California; -- Kokomo Medical Office Park in Kokomo, Indiana; -- 1 and 4 Market Exchange in Columbus, Ohio; -- Gwinnett Professional Center in Lawrenceville, Georgia; -- Triumph Hospital Northwest and Triumph Hospital Sou
