Cox Communications

13255 W Foxfire Drive - Surprise AZ 85374

LTV (Loan to Value)	65.00%	Current NOI	$36,164,653.00
Interest Rate	4.250%	Capital Rate	6.450%
Fixed Term	10 Years	Land Area	3.75 Acres
Amortization	25 Years	Lease Type	NNN
Loan Amount	$3,644,494.75	Property Type	Industrial
Payment	$19,743.62	Property Lease	Call Center
Bulding Size	11,054 SF	Remaining Terms	8.5 Years

Location Description

NNN Lenders is pleased to offer for sale to qualified investors a Cox Communications located at 13255 W Foxfire Drive, Surprise, AZ. Surprise is a city in Maricopa County with a population of approximately 117,517. Surprise is the second fastest growing municipality in the greater Phoenix metropolitan area (after Gilbert) and, between 1990 and 2000, it was the sixth fastest-growing place among all cities and towns in Arizona. Cox Communications is set to operate under a NNN lease with a fifteen (15) year base lease term with approximately 8.7 years remaining. The property features rental increases throughout the lease term.

Highlights

Great Exchange Property - High quality asset in a major west coast market with great rental increases makes this property…

Property Description

Surprise is a city in Maricopa County, Arizona. The population was 30,848 at the 2000 census; however, rapid growth has boosted the city’s population to 117,517 at the 2010 census, an increase of 281%. As such, it is the second fastest-growing municipality in the greater Phoenix metropolitan area (after Gilbert) and, between 1990 and 2000, it was the sixth fastest-growing place among all cities and towns in Arizona. The city has a 10,562-square-foot Aquatics Center, Maricopa County’s northwest regional library, a $5.5 million, 20,000-square-foot library, and a 100.3 cost of living index. The city is the spring training home of the Kansas City Royals and the Texas Rangers baseball teams. These Major League Baseball teams use Surprise Stadium for their activities. The city also hosted a Golden Baseball League team in 2005, the Surprise Fightin’ Falcons and the Recreation Campus ballpark and is the home city for a team in the Arizona Fall League, the Surprise Rafters. It also hosted ESPN SportsCenter 50 States in 50 Days segment on August 11, 2005. Surprise is also home to the Peoria Sports Complex - which is home to the spring training for the San Diego Padres & Seattle Mariners. As part of the city’s Recreation Campus, Surprise is also home to the Surprise Tennis and Racquet Complex (STRC). Since its opening in August 2007, the complex has received numerous awards. Most recently, it was named the 2008 Outstanding Facility of the year award by the USTA. The complex hosts various professional events throughout the year, including the Outback Champion Series tour, a USTA Pro Circuit event, and many USTA regional and sectional events. In 2009 the complex was chosen as the site for the Fed Cup Quarter Final between the USA and Argentina.