111 Raley Boulevard, Suite 240
Chico, CA 95928 ·
26,768 SF · Office For Sale
Skyway Professional Plaza
|Price||N/A||Property Use Type||Net Lease Investment with 6 years left on lease|
|Building Size||26,768 SF||Cap Rate||7.04%|
|Property Sub-type||Medical Office||Tenancy||Multiple|
|Listing ID: 15550904||Date Created: 02/06/2008||Last Updated: 07/28/2008|
Capital Pacifi c is pleased to present the opportunity to purchase a newly constructed Medical Office Building in Chico, California. Skyway Professional Plaza (The Property ) is well located with proximity to the Enloe Medical Center and has excellent access to Highway 99. The property also benefits from NNN leases which insulate an owner from increasing operating expenses which typically are higher for medical buildings. The structure of the leases and new construction provide passive management and few capital expenditures in the coming years.
The City of Chico was founded in 1860 by General John Bidwell, and incorporated in 1872 with a population of approximately 1,000 persons in an area of 6.6 square miles. The City of Chico, with recent annexations, has grown to over a 30.78 square mile Charter city of 84,396 with an urbanized, unincorporated area immediately adjacent to it making the total population of the Chico urban area 105,080. Chico is located in the Northern Sacramento Valley of California approximately ninety miles north of Sacramento, in Butte County, east of Interstate 5.
An important part of Chico' s economic growth has been the availability of reasonably priced industrial and commercial property. Some of the area' s major industrial parks and commercial ventures include: Chico Municipal Airport Industrial, Hegan Lane Business Park, Skypark Plaza, Pheasant Run/Target Center, Downtown/Crossroads Center, Sierra Nevada Brewery, hico Mall, Southgate and Meyers Street Industrial Park. In addition to the vailability of land and buildings, the City has an aggressive redevelopment rogram which has been active since 1980.
- Newly Constructed Medical Building-2004
- 78% of the Tenants Have 2.5% Annual Increases
- Easy Access to Highway 99 and Interstate 5
- Located Approximately 4 Miles from the Enloe Medical Center
- NNN Leases Provide Passive Management
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