For Sale
Call for price

2420 Baseline RdTempe, AZ 85283

Prime AZ R&D Portfolio: 5.6 Years Remaining

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fee-simple ownership of the Celerion R&D Portfolio, encompassing two strategically located buildings totaling 233,565 net rentable square feet on a 15.3-acre lot in Tempe, Arizona. The property is currently 100% occupied under a master lease with Celerion, a globally recognized contract research organization specializing in complex clinical services for pharmaceutical and biotechnology companies. The absolute NNN lease, commenced July 1, 2015, has a remaining term of 5.6 years, with a lease expiration date of June 30, 2030. The lease includes annual rent bumps of 2.00% and four 5-year renewal options, providing significant long-term stability and predictable income. Built between 1973 and 2006, these facilities serve as Celerion's sole North American clinical research facilities, representing a mission-critical asset for their operations. The properties boast hospital-grade finishes, emergency generators, and specialized storage, reflecting a substantial investment by the tenant. The Tempe location offers proximity to leading hospital campuses, fostering strategic partnerships for ongoing clinical research. This offering presents a rare opportunity to acquire a high-quality, mission-critical asset with a strong tenant and significant remaining lease term, offering below-market rent and substantial upside potential. The property is located at 2420 W Baseline Rd, Tempe, AZ 85283.

Highlights

  • High-quality tenant: Leading clinical research organization specializing in early-stage clinical trials and bioanalytical services.
  • Exceptional operating history: 91 years serving diverse pharma and biotech clients.
  • Strong lease terms: 5.5-year Absolute NNN lease with 2% annual rent increases.
  • Below-market rent: Attractive investment basis with high renewal probability.
  • Unique asset: Celerion's sole North American, and one of only three global, clinical research facilities.
  • Mission-critical facility: High tenant investment; costly and difficult to replicate.

Property Details for 2420 Baseline Rd

Property type
Life science properties, Office properties
Square Feet
233,565 SF
Year Built
1973
Buildings
2
Lot Size (sq. ft)
666,468 SF

Location Insight

City
Tempe
County
Maricopa
State
Arizona
Latitude
33.378296517955
Longitude
-111.97477281347
2420 Baseline Rd, Tempe, Arizona

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
2420 Baseline Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message