OrbVest’s expansion into Arizona is driven by the fundamentals that underpin value growth, most notably Phoenix is already the fifth-largest city in the United States and growing rapidly.
NEW YORK (PRWEB)
May 21, 2021
OrbVest, a global real estate company that invests in US income-producing medical commercial real estate recently closed its purchase of Talavi Spectrum, a 75,636-square-foot office property located in Glendale, Arizona for $13,000,000.
“We have been actively searching for medical office buildings in Arizona to complement our current portfolio, and the Talavi building provides us with a perfect opportunity to re-establish the building as a prestigious medical office. We were particularly attracted to the high-quality construction, business park location and the strong demographic trends we are seeing in the Northwest Valley,” said Martin Freeman, OrbVest CEO.
Talavi Spectrum is located at 5701 West Talavi Boulevard in Phoenix, Arizona in a strong market with limited future development opportunities. It is a two-story, 74,662-square-foot, multi-tenant office building that was 88% occupied at the time of sale. Originally developed in 2002 by The OPUS Group on 5.73 acres, the Class A property features high-quality construction, functional floor plates, interior improvements, and a unique campus-style setting in the 67-acre Talavi Business Park.
Talavi Spectrum is well-positioned south of Bell Road – one of the most popular roadways in Phoenix. Talavi Spectrum is conveniently located less than two miles from the Loop 101 Freeway and is adjacent to retail properties such as Talavi Towne Centre (anchored by a Walmart Supercenter), Sprouts Center and Glendale Market Square.
Talavi Spectrum is OrbVest’s second acquisition in the greater Phoenix metropolitan area. Earlier in Q1, OrbVest closed on 555 North 18th Street, a 49,751-square-foot, multi-tenant class A medical office building. “OrbVest’s expansion into Arizona is driven by the fundamentals that underpin value growth, most notably Phoenix is already the fifth-largest city in the United States and growing rapidly. Population migration and business expansion buouyed by low population density and lower cost of living position Phoenix for long-term, post-pandemic growth,” says Freeman.
Talavi Spectrum is OrbVest’s fourth acquisition since the start of 2021, securing its third property in Princeton, New Jersey, a medical and office building comprising 40,028 square feet of rentable space; a 76,771-square-foot medical office building in Fleming Island, Florida; and a 11,852-square-foot Great Expressions Dental Centers office situated on 1.15 acres in Fayetteville, Georgia.
OrbVest is actively seeking additional medical office building investments across the United States in an effort to reduce concentration risk and provide enhanced diversification for its investors.
OrbVest is a global real estate company that invests in US income producing medical commercial real estate. Within seven years, OrbVest has achieved a portfolio of over one million square feet representing >$300m real estate under management (REUM) with a 65% re-investment rate.
OrbVest’s goal is to make investing in global real estate simple for small and large investors who are able to invest from as little as $5,000. Clients use a convenient online platform to invest directly into low risk commercial assets, primarily in the Healthcare niche. The investments generate regular dividends (±8% per annum) that are distributed on a quarterly basis creating annuity income and long-term wealth over the period of investment. (Targeted IRR of 11% to 17%). For more information, visit: http://orbvest.com/
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