sean stutzmanari spiro principal president …

[email protected]

[email protected]

SEAN STUTZMANARI SPIRO

LABCORP NNN INVESTMENT

PresidentT 480.634.8596C 480.292.3697

[email protected]

ARI SPIROPrincipal

T 480.634.8194C 480.363.4544

[email protected]

SEAN STUTZMAN

IRONWOOD OFFICE SUITES - 9465 EAST IRONWOOD SQUARE DRIVE, SUITE 103, SCOTTSDALE, ARIZONA

AN OFFICE CONDOMINIUM INVESTMENT OPPORTUNITY

This information is given without representation or warranty. It should be verified independently and is subject to change, correction, prior sale, lease or withdrawal without notice.

OFFERING MEMORANDUM

www.orionprop.com


This information is given without representation or warranty. It should be verified independently and is subject to change, correction, priorsale, lease or withdrawal without notice. www.orionprop.com

TABLE OF CONTENTS

IRONWOOD OFFICE SUITES - 9465 E IRONWOOD SQUARE DRIVE, SUITE 103, SCOTTSDALE, ARIZONA

LABCORP NNN INVESTMENTAN OFFICE CONDOMINIUM INVESTMENT OPPORTUNITY

All materials and information received or derived from ORION Investment Real Estate its directors, officers, agents, advisors, affiliates and/or any third partysources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack ofcompliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performanceof the property for any party’s intended use or any and all other matters.

Neither ORION Investment Real Estate its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as toaccuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written orverbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters ofsignificance to such party. ORION Investment Real Estate will not investigate or verify any such matters or conduct due diligence for a party unless otherwiseagreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections andinvestigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the partyincluding by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. ORION Investment Real Estatemakes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. ORION InvestmentReal Estate does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance,including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents thatmay be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicablecontractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or taxattorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether theproperty complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, otherconsultants and governmental agencies. All properties and services are marketed by ORION Investment Real Estate in compliance with all applicable fairhousing and equal opportunity laws.

CONTENTS CONFIDENTIALITY & DISCLAIMER

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representationabout it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performanceof the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction thesuitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the expresswritten content of the owner is prohibited.

PROPERTY INFORMATION 3

LOCATION INFORMATION 8

DEMOGRAPHICS 14

PrincipalO: 480.634.8194C: 480.363.4544E: [email protected]

SEAN STUTZMANPresidentO: 480.634.8596C: 480.292.3697E: [email protected]

ARI SPIRO

Empty [email protected]

[email protected]


PrincipalT 480.634.8194C 480.363.4544

[email protected]

SEAN STUTZMANPresident

T 480.634.8596C 480.292.3697

[email protected]

ARI SPIRO




This information is given without representation or warranty. It should be verified independently and is subject to change, correction, prior sale, lease or withdrawal without notice.www.orionprop.com

PROPERTY INFORMATION

PROPERTY OVERVIEWLaboratory Corporation of America Holdings, LH (NYSE), more commonly known as LabCorp, is anAmerican S&P 500 company headquartered in Burlington, North Carolina. This medical office condohas been 100% occupied by LabCorp since 2013 and they recently extended their lease for 5 years.

LOCATION OVERVIEWThe property is located within the Ironwood Office Suites medical complex which is adjacent toHonorHealth Scottsdale Shea Medical Center, a 433-bed hospital. This irreplaceable location issurrounded by dozens of medical practices, major retail amenities, and assisted living facilities withaccess to the Loop 101 Freeway, providing an easy connection to and from many suburbs of Phoenix.

PROPERTY HIGHLIGHTS• Corporate Lease with Laboratory Corporation of America Holdings, LH (NYSE)• Located at the Epicenter of the North Scottsdale Medical Submarket (Cure Corridor)• Minutes from Loop 101 Freeway and Shea Boulevard with ±190,000 VPD• Located adjacent to HonorHealth Scottsdale Shea Medical Center

PROPERTY SUMMARY

Sale Price: $741,750

Cap Rate: 6.0%

Lease Type: NNN

Taxes (2016): $4,852.10

Building Size: 2,070 SF

Year Built: 2004

Parcel Number: 217-53-952

Cross Streets: Ironwood Square Drive & 96th Street


EXECUTIVE SUMMARY



LABCORP NNN INVESTMENT | SCOTTSDALE, ARIZONA

Absolute NNN Terms & Financials

Net Operating Income and CAP

July 2017 Forward NOI CAP Rate

Year 1 $44,505 6.00%

Year 2 $45,540 6.14%

Year 3 $46,575 6.28%

Year 4 $47,610 6.42%

Year 5 $48,645 6.56%

Lease Origination Date: March 17th 2008

Lease Expiration Date: September 30, 2022

Term Remaining: 5 Years

Guaranteed: Corporate Guarantee

Current Rent: $44,505 Per Year, NNN

Rental Increases: July 1, 2018 - $45,540 NNN

July 1, 2019 - $46,575 NNN

July 1, 2020 - $47,610 NNN

July 1, 2021 - $48,645 NNN

ABSOLUTE NNN TERMS & FINANCIALS

IRONWOOD OFFICE SUITES - 9465 EAST IRONWOOD SQUARE DRIVE, SUITE 103, SCOTTSDALE, ARIZONA




• Headquarted in Burlington, NC

• Ticker Symbol: LH

• American S&P 500 Company

• Founded in 1978

• 50,000+ Employees Worldwide

• 220,000+ Clients in 60 Countries

TENANT PROFILE: LABCORP



LabCorpLabCorp provides leading-edge medical laboratory tests and services through a national network of primary clinicallaboratories and specialty testing laboratories.

With scientific expertise in esoteric testing, genomics, and clinical and anatomic pathology, LabCorp processes tests onapproximately 500,000 specimens each day, applying advances in medicine and science to laboratory testing.

LabCorp operates a sophisticated laboratory network, with corporate headquarters in Burlington, NC, and more than50,000 employees worldwide. LabCorp's clients include physician offices, hospitals, managed care organizations, andbiotechnology and pharmaceutical companies. Laboratory Corporation of America Holdings is listed on the New YorkStock Exchange (NYSE) under ticker symbol LH.

With roots going back more than 100 years, LabCorp has been dedicated to improving health and improving lives.LabCorp has grown organically and through targeted acquisitions that have added to its geographic and technologicalscope.

Today, LabCorp is the world’s leading health care diagnostics company. With net revenue in excess of $8.5 billion in 2015,LabCorp’s 50,000-plus employees serve more than 220,000 clients in 60 countries and provide diagnostic,drug-development and technology-enabled solutions for more than 100 million patient encounters per year. It continuesto strive every day to fulfill its mission: to improve health and improve lives.

www.labcorp.comwww.ironwoodofficesuites.com/about.php

COMPANY FACTS


Caption 2Caption 4

ADDITIONAL PHOTOS




[email protected]


PrincipalT 480.634.8194C 480.363.4544

[email protected]


T 480.634.8596C 480.292.3697

[email protected]

ARI SPIRO





LOCATION INFORMATION


LOCATION MAPS




PARCEL MAP




AERIAL MAP: CLOSE UP




AERIAL MAP




• Five Hospital Locations

• A Surgical Specialty Hospital and a

Freestanding Emergency Center

• A Cancer Research Institute

• 3,200 Expert Physicians

• 3,400 Outstanding Nurses

• 3,100 Dedicated Volunteers

• 10,300 Employees

SURROUNDING HOSPITAL



HonorHealthHonorHealth is a non-profit, local provider, dedicated to the health and wellness of their communities. HonorHealthoffers convenient access to healthcare with a large network of high-quality primary care and specialty physicians, as wellas other healthcare providers. As leaders in personalized care, HonorHealth has nearly 150 years of combined experienceserving communities in greater Phoenix through such programs as NOAH and Desert Mission.

HonorHealth's integrated health system provides personalized, connected, quality care with innovative approaches toachieve superior clinical outcomes. Their wide range of services includes: Cardiac Care, Orthopedic Services, Cancer Care,a Research Institute, Emergency Services and Trauma Care, Maternity Services, Pediatric Services, Bariatric Weight LossSurgery, Diabetes Management, Home Health Services, Neurosciences, Medical Imaging, Outpatient Services and more.

One of the five HonorHealth locations includes Scottsdale Shea Medical Center. Scottsdale Shea Medical Center has 433beds, women's services, a dedicated pediatric emergency department, pediatric ICU, and a Level III neonatal ICU. Thehospital also is known as a bariatric surgery center of excellence, total joint replacement center, and cardiology andoncology services.

The Virginia G. Piper Cancer Center, accredited by the Commission on Cancer of the American College of Surgeons, is onthe Shea campus and houses the HonorHealth Research Institute.

Scottsdale Shea Medical Center is a certified Chest Pain Center and Heart Attack Center. The facility has earned Magnetdesignation, the highest national designation for excellence in nursing care.

www.honorhealth.comwww.honorhealth.com/locations/hospitals/scottsdale-shea-medical-center

HIGHLIGHTS


[email protected]


PrincipalT 480.634.8194C 480.363.4544

[email protected]


T 480.634.8596C 480.292.3697

[email protected]

ARI SPIRO





DEMOGRAPHICS

DEMOGRAPHICS REPORT




1 MILE 3 MILES 5 MILES

Total households 4,370 29,968 60,909

Total persons per hh 1.9 2.1 2.2

Average hh income $97,763 $109,807 $112,497

Average house value $467,279 $561,574 $579,999


Total population - White / % White 7,438 / 91.2% 58,050 / 91.4% 121,145 / 90.7%

Total population - Black / % Black 254 / 3.1% 758 / 1.2% 1,808 / 1.4%

Total population - Asian / % Asian 259 / 3.2% 2,748 / 4.3% 5,398 / 4.0%

Total population - Hawaiian / % Hawaiian 2 / 0.0% 27 / 0.0% 63 / 0.0%

Total population - Indian / % Indian 40 / 0.5% 542 / 0.9% 1,894 / 1.4%

Total population - Other / % Other 48 / 0.6% 699 / 1.1% 1,613 / 1.2%


Total population 8,157 63,491 133,538

Median age 54.3 46.4 44.5

Median age (male) 54.1 45.9 43.9

Median age (female) 54.2 46.6 44.8


DEMOGRAPHICS MAP



1 Mile 3 Miles 5 Miles

Total Population 8,157 63,491 133,538

Population Density 2,596 2,246 1,700

Median Age 54.3 46.4 44.5

Median Age (Male) 54.1 45.9 43.9

Median Age (Female) 54.2 46.6 44.8

Total Households 4,370 29,968 60,909

# of Persons Per HH 1.9 2.1 2.2

Average HH Income $97,763 $109,807 $112,497

Average House Value $467,279 $561,574 $579,999



PrincipalT 480.634.8194C 480.363.4544

[email protected]


T 480.634.8596C 480.292.3697

[email protected]

ARI SPIRO

EXCLUSIVELY LISTED BY:

This information is given without representation or warranty. It should be verified independently and is subject to change, correction, prior sale, lease orwithdrawal without notice.www.orionprop.com


sean stutzmanari spiro principal president …

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