PHOENIX – ORION Investment Real Estate has announced the sale of the NNN Investment property leased to Valley Child Care for $3.09 million ($309 PSF). This ±10,014-square-foot freestanding building is situated at the intersection of Daisy Mountain Drive and Anthem Way, one of the busiest intersections in Anthem. It is fully leased to a long-term tenant, Valley Child Care & Learning Center. The tenant entered into an absolute NNN lease until 2022 with 3% annual rent increases for the first 10 years and 2% annual increases for the remaining term, making the property very attractive for a long-term investment.
Anthem is the most family-friendly community in Arizona, even ranked the 10th most playful city in the Nation, making Anthem an attractive market for child-care tenants. Anthem has over 8,000 family homes situated around an impressive 63-acre park and country club, however, commercial property is sparse, making any commercially zoned property an excellent asset to investors.
Nick Miner, CCIM, Senior Vice President at ORION Investment Real Estate, noted, "The property was sold to a 1031 Exchange Buyer from Colorado. They identified this property because of the location in the Phoenix Metro and the long term lease with the tenant."
The property was sold by Anthem Heritage, LLC, a long time client of Miner's, and purchased by Ira Stegner.