2420 Baseline Rd Tempe, AZ 85283-1028

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.