Stable Core-Plus Investment

• The ±101,389 SF property is 89% leased with primarily NNN lease structures and contractual annual rent escalations, generating $1.85M in NOI and providing durable, predictable cash flow with modest leasing upside.

Embedded Upside Without Heavy Lift

• Approximately 11% vacancy offers incremental NOI growth through lease-up, without the execution risk typically associated with traditional value-add investments.

Significant Investment By Ownership

• Post-acquisition, ownership has injected over $9MM of capital into the asset. This includes a $6.5MM comprehensive building renovation in 2020, paired with over $2.5MM in strategic improvements to secure long-term commitments from key anchors like Wells Fargo.

Institutional Tenancy

• Mayo Clinic (Moody’s: Aa2) occupies roughly 47% of the rentable square footage and Wells Fargo (S&P: A+) occupies approximately 22% of the rentable square footage. Together, approximately 69% of the property’s rentable square footage is leased to institutional-grade tenancy.

Irreplaceable Mayo Clinic Location

• Situated one block from the world-renowned 754-bed Mayo Clinic Methodist Hospital in downtown Rochester, Minnesota, and overlooking Peace Plaza, the property benefits from unmatched foot traffic, provider demand, and proximity to one of the top healthcare systems globally.

Integrated Downtown Connectivity

• The property benefits from direct access to Rochester’s pedestrian skyway and subway system, enhancing year-round connectivity to Mayo Clinic, nearby hotels, parking facilities, restaurants, and downtown amenities for tenants, employees, and patients alike.

Strong Market Fundamentals

• The property sits within a high-income demographic corridor, featuring a population of 100,000+ with an average household income exceeding $120,000. While the national office sector faces headwinds, Rochester remains a significant outlier; its 5% vacancy rate dramatically outperforms the US average of ~20%. This resilience is anchored by the presence of the Mayo Clinic’s global headquarters, which serves as a recession-resistant economic engine and cements the city’s status as the world’s premier healthcare destination.