SOLD: $4,500,000
CAP Rate: 4.87% | Rentable SF: 13,052 | Price/Rentable SF: $344.77 | Lot Size: 26,440 SF | Year Built: 1989
INVESTMENT HIGHLIGHTS
Generational redevelopment opportunity - Future potential to redevelop the entire parcel at the end of the lease term
18-year lease with annual CPI rent escalations (not to exceed 10%)
Transit friendly location – One block from BART Macarthur Station with 33,456 passenger boarding and exiting per day
Long Term Ground Lease to Alta Bates Summit Medical Center Surgery Property Company, LLC
Adjacent to MacArthur Station – Future home of multifamily housing development with 675 units planned
State-of-the-art surgery center that services Alta Bates & Summit Medical Center
Blocks from both Interstate 580 (199,000 VPD) and Highway 24 (164,186 VPD) providing convenient access to Bay Area cities