Base Pointe Business Park

Office for Sale
Catylist Listing ID: 30189648
Property Subtypes: Net Leased, Office Building
Building Size (RSF): 92,500 SF
Gross Land Area: 17.30 Acres
Sale Price: $15,319,167 - 15,379,167
Unit Price: $165.61 - 166.26 PSF
Property Use Type: Investment
Building Name: Base Pointe Business Park
Class of Space: Class B
Usable Size (USF): 92,500 SF
Sale Terms: Cash to Seller
Cap Rate: 7.18%
Average Occupancy Rate: 100
Last Updated: 4/18/2019

Overview / Comments

Avison Young is pleased to offer to qualified investors the opportunity to purchase two buildings leased to TeamHealth which is owned by The BlackStone Group, https://www.blackstone.com (“Offering”). The Offering is a two-building, single-tenant office complex in Base Pointe Business Park. Base Pointe is a 38-acre business park located along I-140 (Pellissippi Parkway) in between two interchanges. Located in a Qualified Opportunity Zone.

The offering is 17.3 acres, including 4.35 acres for expansion and is improved with two buildings totaling 92,500 square feet that were originally built in 2012 and expanded through 2015. TeamHealth has an option to expand the second building from 40,000 square feet to 70,000 square feet which would increase the net operating income in the future. Land for expansion is included in the sale price.

Attachments & Media

Current Tenants

Tenant Business Name Team Health
Website URL https://www.teamhealth.com/
Industry Type Health Care and Social Assistance
Is Renting? Yes
Year Founded 1979
SF of Space Occupied 92,500 SF
Current Rent $1,100,000 PSF (Annual)
Options Building expansion

Additional Details

Nearest MSA: Knoxville
County: Blount
Taxing Authority: Blount County
Tax ID/APN: 017 056.05, 08
Zoning: PLANNED COMMERCIAL/LIGHT MANUFACTURING UNIT DEVELOPMENT E-2 (ALCOA)
Property Located Between: I-140 and Alcoa Highway
Property Visibility: Excellent
Highway Access: The Park is accessed via Wrights Ferry Road from either Topside Road or Alcoa Highway. Access is easy and clear with a traffic signal at Topside Road and recently widened and resurfaced Wrights Ferry Road.
Airports: McGhee Tyson Airport - less than five minutes
Area Description: Base Pointe Business Park is located at 3231 & 3225 North Star Circle, Louisville, TN 37777, which is in the Knoxville-Morristown-Sevierville Combined Statistical Area (CSA). The Knoxville-Morristown-Sevierville Combined Statistical Area (CSA) is centrally located at the intersection Interstate 75, Interstate 40, and Interstate 81. Over two-thirds of the nation’s population lives within a day's drive of the region. The Park’s prime location has immediate highway access, is less than five minutes to McGhee Tyson Airport, nine minutes from West Knoxville, 15 minutes from the University of Tennessee and 12 minutes from downtown Maryville. The Park is accessed via Wrights Ferry Road from either Topside Road or Alcoa Highway. Access is easy and clear with a traffic signal at Topside Road and recently widened and resurfaced Wrights Ferry Road.
Total Number of Buildings: 2
Number of Stories: 1
Year Built: 2012
Parking Ratio: 7.2 (per 1000 SF)
Parking Type: Surface
Sprinklers: Wet
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: T1/T3
Interior Description: Hard walled offices, break, conference, fitness and data rooms along the perimeter with restrooms and cubicles in the central part of the buildings.
Zoning Description: Planned Commercial/Light Manufacturing Unit Development E-2 (Alcoa)
Part of Planned Development?: Yes

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,577 17,170 62,009
Median Age: 42.65 40.44 40.91
Households: 1,123 7,355 25,582

Contact

Photograph of Listing Agent

Brian H. Tapp, CCIM

Avison Young KAAR CIE Member
Photograph of Listing Agent

John M Adams III, CCIM SIOR

Avison Young KAAR CIE Member
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