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111 S Hearthstone Way Chandler, AZ
Offering Memorandum
Tim DulanySenior Vice President+1 602 222 5186 [email protected]
Behavioral Health Treatment Center Campus for Sale
OFFERING MEMORANDUM 111 S Hearthstone Way | 3
Executive Summary
Address 111 S Hearthstone WayChandler, AZ 85226
Parcel ID 301-65-879, 301-65-878A, 301-65-880
Property Size Approximately 13,718 square feet of residential properties, consisting of seven separate homes.
Land Area 2.35 AC, or 102,366 gross square feet
Year Built 1987; renovated in 2014 and 2018. Decorated and furnished by professional designer in 2018.
Zoning Planned Area Development (PAD), City of Chandler, for use as a behavioral health residential treatment center
Major Cross Streets Loop 101 and Chandler Blvd
Access Two blocks west of Loop 101 off Chandler Blvd. Head south on Hearthstone Way to entrance of gated, private cul-de-sac's campus property.
Note Asking price includes all existing, brand new state-of-the-art telecommunication system, security alarm, fixtures, furnishings and business equipment estimated at $1 million. See complete furnishings list.
OFFERING MEMORANDUM 111 S Hearthstone Way | 4
The Offering
This is truly a one-of-a-kind opportunity to own a 40-bed
capacity, move-in ready behavior health/substance abuse
treatment facility campus located within the city of Chandler,
Arizona. This subdivision of residential properties consists
of seven separate residential units utilized over the past 25
years as a behavioral health residential treatment center.
The campus includes:
Total combined square feet for all seven properties is 13,718.
This campus of seven is located within a private, gated
cul-de-sac subdivision consisting of three separate land
parcels with a combined land area of approximately 2.35
AC (102,366 SF). The property is zoned as PAD (Planned
Area Development), per City of Chandler zoning ordinance.
Property is use-approved for behavioral health residential
treatment center. The residential homes located on the
property are currently vacant and have previously been
utilized as a residential treatment facilities for eating
disorders and substance abuse. Previously, the operator
was licensed in 2018 with the Arizona Department of Health
Services for a total capacity of up to 40-person bed count.
This residential treatment center campus was originally
constructed in 1987, then renovated in both 2014 and 2018. All
the properties have been upgraded with fire sprinklers, alarms,
and state-of-the art security alarm system in place. All come
furnished with beds (and/or bunk beds), bedding, sofas, couches,
chairs, administrative desks and chairs, large color flat screen
TVs, dining room tables and chairs, washers and dryers, full
kitchen with appliances, outdoor patio furniture, gas fire pit and
golf carts. Please see complete furnishings list for further details.
The property surroundings include The Met at Fashion Center
(303-unit Class A apartment building), Hyatt Place hotel (129-
unit upscale hotel), Element by Weston hotel (107-room modern
hotel), the Chandler Fashion Center Mall (over 1 million square
foot super regional shopping mall anchored by Sears, Harkins
Movie Theater, Dillards, Macy, Nordstrom, Best Buy, Barnes
and Noble, Pottery Barn, Cheesecake Factory, and dozens of
other national tenants), Target, Costco, Walmart, Hobby Lobby,
Aspire Kids Sports Center and Sun Devil Gymnastics, along with
numerous other restaurants and retail stores. Property is within
minutes of Chandler Hospital and major employers such as Intel,
GM, Paypal, Bank of America, Orbital Science, Boeing, Basha’s
Grocery Store, Go Daddy, Edward Jones, Avnet and ASU.
Property has direct access to Chandler Boulevard, which
connects to Loop 101, Loop 202 and Interstate 10.
111 S Hearthstone Way | Chandler, AZ
Property A – 2,032 SF
Property B – 2,314 SF
Property C – 2,192 SF
Property D – 1,799 SF
Property E – 1,786 SF
Property F – 1,778 SF
Property G – 1,817 SF
OFFERING MEMORANDUM 111 S Hearthstone Way | 6
Harkins Theatres
Cambria Inn & SuitesBest Buy
Costco
Element Hotel
Chandler Fashion Center
Country Club Way
Chandler Village Drive
Loop 101Loop 202
Target
111 S Hearthstone Way | 6 OFFERING MEMORANDUM
Property Location Aerial
OFFERING MEMORANDUM 111 S Hearthstone Way | 12
Address:111 S Heartnstone Way
City, State, ZIP:Chandler,AZ 85226
County:Maricopa
Purpose of site plan: Behavioral Health
Residential Facility License Application
Scale:1" = 40'
N Hearthstone Way
N Hearthstone Way
N Hearthstone Way
S Hea
rthsto
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ay
S Hea
rthsto
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ay
Property line
Wall lin
e
Eaves
line
Wall line
Eaves line
36.66
227.53
267.00
113.00
350.00
78.00
36.00 28.00
202.37152.63
28.00
172.0
0
75.00 65.00
65.00
36.00
60.00
54.0
58.0
34.0
34.0
20.0
24.0
18.7
18.2
81.4
81.4
54.0
55.2
44.0 18.0
6.04.0
24.0
42.0
23.0
11.018.0
58.0
22.0
10.0
30.0
48.0
26.0
20.0
26.0
34.0
8.0
20.014.0
24.0
53.0
52.0
38.0
22.0
36.0 40.0
16.0
21.0
10.0
35.0
32.0
5.0
8.0
30.0
40.0
60.0
36.0
60.0
36.0
18.3
19.1
21.1
22.0
13.6
12.2
40.9
40.4
27.8
19.3
33.2
19.6
24.2
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20.6
38.0
43.4
23.6
19.7
50.2
24.2
22.2
46.4
56.8
51.4
43.2 62
.1
11.8
28.6
29.9
12.9
42.4
41.2
19.3
20.0
54.8
24.9
27.7
17.9
11.1
11.3
Maricopa County GIO, Maricopa County Assessor's Office
O
1/6/2019 7:26:28 PM
parcel # - 301-65-878A
Parcel 301-65-878AMaricopa County GIO, Maricopa County Assessor's Office
O
1/6/2019 7:25:48 PM
parcel # - 301-65-879
Parcel 301-65-879
Maricopa County GIO, Maricopa County Assessor's Office
O
1/6/2019 7:28:28 PM
parcel # - 301-65-880
Parcel 301-65-880111 S Hearthstone Way | 13
111 S Hearthstone Way | 22
Real Estate Property InformationADDRESS
111 South Hearthstone WayChandler, AZ 85226
LAND AREA
This campus is located within a private gated cul-de-sac subdivision consisting of three separate land parcels with a combined land area of approximately 2.35 acres (102,366 SF).
Parcel No. 301-65-878A
Parcel No. 301-65-879
Parcel No. 301-65-880
PROPERTY SIZE
This subdivision consists of seven separate residential units classified as dormitories previously used as Behavioral Treatment Center. The campus includes the following for a total of 13,718 SF:
Property A – 2,032 SF
Property B – 2,314 SF
Property C – 2,192 SF
Property D – 1,799 SF
Property E – 1,786 SF
Property F – 1,778 SF
Property G – 1,817 SF
ZONING
Planned Area Development (PAD), per City of Chandler zoning ordinance, which is a use approved for behavioral health residential treatment centers. The residential homes located on the property are currently vacant and have previously been utilized as a residential treatment facilities for eating disorders and substance abuse. The previous operator was licensed in 2018 with the Arizona Department of Health Services.
BED CAPACITY
40 beds
ASKING PRICE
The Property is unpriced and interested parties are encouraged to make an offer. The property includes over $1 million in added fixtures, furnishings and equipment included with the sale of the campus. All homes come furnished with beds (and bunk beds), linens, sofas, couches, chairs, administrative desks and chairs, large color flat screen televisions, dining room tables and chairs, washers and dryers, full kitchen with appliances, outdoor patio furniture, working fire pit and golf carts. Please see complete inventory list for details.
YEAR BUILT
Originally constructed in 1987, then renovated in 2014 and again in 2018. All the properties have been upgraded with fire sprinklers, alarms, and state-of-the-art security alarm systems in place.
OFFERING MEMORANDUM
CONSTRUCTION
Wood frame and stucco
PARKING
Approximately 30 on-site surface parking spaces
111 S Hearthstone Way | 23
Furnishings List
OFFERING MEMORANDUM
BAELI HOUSE
1 round wood table4 red leather barrel chairs1 black cabinet1 small white lamp and elephant figure1 wood dining table6 dining chairs2 green living room chairs1 brown leather sectional1 ottoman1 sofa table2 lamps1 silk floor plant and container
1 large wall mirror11 pieces of art1 white wood floor lamp2 double size bunk beds2 double size beds2 five-drawer chests1 night stand3 white round side tables3 white table lampsOutdoor patio furniture – 1 love seat, 2 chairs and ottomans, 1 coffee table, 1 floor lamp and one small rugMetal sign
CHLOE HOUSE
1 teal leather sectional1 square coffee table2 orange club chairs1 sofa table2 table lamps1 wood dining table and 6 chairs3 canvas art pieces2 double size bunk beds2 double size single beds2 large white armoires
1 five-drawer chest3 white round tables3 white table lamps1 area rug1 outdoors love seat, outdoor lamp1 small outdoor rug1 metal art piece3 black plaid bedroom chairs1 60” TV6 small bedroom pictures
JORDYN HOUSE
1 leather sectional and ottoman1 large yellow side chair1 sofa table2 blue lamps1 small chestSofa pillows1 dining table4 blue faux leather dining chairs2 black wood dining chairs2 double size bunk beds1 double single bed2 night stands2 five-drawer chests1 large white armoire3 white table lamps
2 small white round tables3 black plaid chairs1 large area rug in living room3 canvas art piecesVarious metal wall pieces2 outdoor rocking chairs with pillows1 small table1 outdoors floor lamp2 60” TVs1 large whiteboard with doors10 brown stacking chairs1 blue cabinet3 canvas art pieces in group room
OLIVIA HOUSE
3 piece leather set – sofa, love seat, and chair with ottoman2 yellow armless side chairsCoffee table3 side tables1 large area rug1 blue cabinet in foyer4 table lamps5 canvas art pieces1 dining table and 6 chairs1 round kitchen table and 4 chairs4 computer stations4 computers4 black computer chairs
3 leather recliner chairs with ottomansOutdoor furniture: 1 sofa, 2 chairs, cocktail table, 2 floor lamps, 1 area rug2 60” TVs1 large whiteboard with doors4 double bunk beds1 large seven-drawer dresser1 white round table3 white table lamps2 white armoires2 five-drawer chestsVarious metal signs and small mirrors
RILYN HOUSE
1 large fabric sectional2 leather barrel chairs1 cocktail table1 small red table2 table lamps1 wood dining table and 8 chairs1 metal kitchen table and 4 chairs3 double bunk beds1 double single bed1 night stand3 five-drawer chests3 white bedroom table lamps4 black plaid bedroom chairs3 round white tables
1 large area rug1 silk floor plant1 60” TV
Group Room:1 60” TV1 large whiteboard with doors1 blue cabinet2 silk floor plants10 large folding tables15 black stacking chairs3 pieces of canvas art1 wood pedestal and cross
MEKALA HOUSE
1 gray sofa2 patterned chairs1 small area rug1 round coffee table1 white wood floor lamp1 wood dining table8 blue dining chairs1 round kitchen table and 4 chairs1 large leather sectional1 square coffee table1 sofa table2 table lamps2 teal blue side chairs8 pieces of wall art
3 wood art signs3 double bunk beds2 double single beds1 five-drawer chest2 night stands4 white bedroom lamps5 black plaid bedroom chairs2 white round tablesVarious metal signs on wallsOutdoor furniture – 1 love seat, 2 chairs and ottomans, 1 coffee table, 2 floor lamps, 1 area rug1 60” TV
Nurse’s Station:1 navy sectional2 white end tables1 coffee table2 blue lamps1 area rug2 office chairs2 small red chairs1 glass side table1 exam table
1 Welch Allen vital signPrinterMonitorKeyboard3 small under counter refrigerators1 small dinner table and four chairs
111 S Hearthstone Way | 24
Furnishings List, continued
OFFERING MEMORANDUM
CONSULT TWO
2 wingback blue chairs1 faux leather barrel chair1 round wood table1 table lamp1 small area rug4 pictures
CONSULT THREE
3 yellow polka dot chairs1 blue leather chair1 round table and lamp7 pictures1 C-desk
CONSULT FOUR
3 leather chairs2 side tables2 table lamps1 C-table2 pictures
CONSULT FIVE
3 swivel chairs1 round table1 lamp1 C-table4 pictures
MISCELLANEOUS
7 washer and dryer setsAll window coverings and drapesEntrance matsUmbrella stands with umbrellasWall clocksWicker hampersCoverlets for beds7 electric fireplace inserts
Pottery Barn shower curtains and liners80 bed pillows40 patient safes1 large office safe40 patient wall lamps for reading40 metal bulletin boards for patients
OUTDOOR FURNITURE
16 Adirondack chairs2 outdoor fire pits3 piece outdoor furniture set with cocktail table1 large blue solar umbrellaRound concrete table and 3 concrete benches
3 swing benches2 white benches10 concrete planters1 dining patio table and 6 chairs for staff under pergola2 concrete trash/cigarette containers
ADMINISTRATION BUILDING
2 leather barrel chairs1 small brushed chrome side table23 art pieces1 large conference room table10 office chairs with blue seats3 office desks2 credenzas3 wall cabinets
2 small round conference tables1 square conference table4 white leather chairs2 large bookcases and 2 sets of file drawers8 black and white office chairs1 Varidesk Prodesk 60 inch 1 double screen monitor, keyboard, desk lamp and chair
2 plaid wing back chairs1 leather wing chair1 round side table and lamp1 large reception desk L-shaped1 large desk lamp at reception1 large wall clock over reception desk1 round black dining table and 4 black chairs1 round wood table and 4 wicker chairs in
admission room2 side chairs and table in Med Dir. Office3 silk floor plants1 60” TV3 desk lamps1 holiday wreath
Home B2,314 SF
FloorPlans
Home A2,032 SF
111 S Hearthstone Way | 25 OFFERING MEMORANDUM
FloorPlans
Home C2,192 SF
Home D1,799 SF
111 S Hearthstone Way | 26 OFFERING MEMORANDUM
FloorPlans
Home E1,786
Home F1,778 SF
111 S Hearthstone Way | 27 OFFERING MEMORANDUM
Home G1,817 SF
111 S Hearthstone Way | 28
Zoning Ordinance LetterCity of Chandler
OFFERING MEMORANDUM 111 S Hearthstone Way | 33
The city of Chandler is located in the southeast
portion of the Phoenix-Mesa-Glendale metro area.
The local population in the city totals more than
260,000 residents, and is expanding at a pace of
nearly two percent annually, faster than the state
average as a whole. The city is the fourth largest in
Arizona by population, trailing only Phoenix, Tucson
and neighboring Mesa. Of the top five cities in
Arizona, Chandler is by far the fastest growing city in
the group.
Businesses, particularly those in the high-tech
segments of the economy, looking to establish a
presence in Arizona due to the state’s pro-business
climate and affordable cost of living consistently
target Chandler to attract the talent they need to run
their enterprises. The most prominent technology
company in the area is Intel. The chip giant is the
largest employer in Chandler and one of the largest
employers in the state, with approximately 11,900
workers in the area.
Other established technology companies
operating in Chandler include eBay/PayPal (2,000
employees), Microchip Technology (1,500), Orbital
Sciences (1,400), Avnet (750) and Mitel (450).
One of the overriding themes in the Chandler
economy has been the growth associated with
technology companies. Simply put, the presence of
existing technology companies attracts additional
businesses that act as suppliers, competitors or joint-
venture partners.
In addition to a deep collection of technology
companies, the city of Chandler has a diversified
group of large local employers, with many financial
services businesses forming significant presences
in the area. Both Bank of America and Wells Fargo
have campuses in the city that employ thousands
of workers. Wells Fargo expanded its campus
expanding in the second half of 2015, relocating
some existing workers from other parts of the Valley.
Nationstar Mortgage moved into Chandler a few
years ago, bringing 1,000 new workers to the area.
Chandler, AZ Economic and Employment Overview
The Chandler market consists of approximately
13.8 million square feet of retail space,
headlined by the 1.2 million square foot
Chandler Fashion Center, which opened in
2001 at the intersection of Price Road and
Chandler Boulevard. Dillard’s and Macy’s are
the two largest tenants at Chandler Fashion
Center and the mall also includes one of two
Nordstrom stores in Arizona. The mall features
dozens of shops and restaurants, as well as a
20-screen Harkins Movie Theatre.
The Chandler retail market is growing, leading
to a surge in amenities for local residents.
Net absorption of retail space in Chandler
has been positive in 11 of the past 12 quarters,
totaling more than 1 million square feet in that
time. Some of the absorption was the result
of the 356,000 square foot Phoenix Premium
Outlets, which came online in 2013 near the
Gila River Wild Horse Pass Casino. This is the
most significant retail delivery in recent years,
and the project has outlet stores for such high-
end retailers as Brooks Brothers, Hugo Boss,
Kate Spade New York, Saks Fifth Avenue and
Armani.
Chandler Amenities Overview
OFFERING MEMORANDUM 111 S Hearthstone Way | 35
Confidentiality & Disclaimer
This Offering Memorandum contains select
information pertaining to the business and
affairs of the property at 111 S Hearthstone Way,
Chandler, AZ (Property). Colliers International
has prepared this document. This Offering
Memorandum may not be all-inclusive or
contain all of the information a prospective
purchaser may desire. The information
contained in this Offering Memorandum is
confidential and furnished solely for the
purpose of a review by a prospective purchaser
of the Property. It is not to be used for any other
purpose or made available to any other person
without the written consent of Owner and
Colliers International. The material is based in
part upon information supplied by the Owner
and in part upon financial information obtained
by Colliers International from sources it deems
reliable. Neither Owner, nor their officers,
employees, or agents make any representation
or warranty, express or implied, as to the
accuracy or completeness or this Offering
Memorandum or any of its contents and no
legal liability is assumed or shall be implied
with respect thereto.
Prospective purchasers should make their own
projections, form their own conclusions without
reliance upon the material contained herein,
and conduct their own due diligence.
By acknowledging your receipt of this Offering
Memorandum, you agree:
1. 1. The Offering Memorandum and its
contents are confidential;
2. 2. You will hold it and treat it in the strictest
of confidence;
3. 3. All photographs and graphic elements
are property of the Owner and use without
Owner’s expressed written permission is
prohibited; and
4. 4. You will not, directly or indirectly,
disclose or permit anyone else to disclose
this Offering Memorandum or its contents
in any fashion or manner detrimental to
the interest of the Owner.
Owner and Colliers International expressly
reserve the right, at their sole discretion, to
reject any and all expressions of interest or
offers to purchase the Property and to terminate
discussions with any person or entity reviewing
this Offering Memorandum or making an offer
to purchase the Property unless and until a
written agreement for the purchase and sale of
the Property has been fully executed and
delivered.
If you wish not to pursue negotiations regarding
the Property, or you discontinue such
negotiations, then you agree to destroy all
materials relating to this Property, including this
Offering Memorandum, and to certify to Owner
that you have done so.
A prospective purchaser’s sole and exclusive
rights with respect to this prospective
transaction, the Property, or information
provided herein or in connection with the sale of
the Property shall be limited to those expressly
provided in an executed Purchase Agreement
and shall be subject to the terms thereof. In no
event shall a prospective purchaser have any
other claims against Owner or Colliers
International or any of their affiliates or any of
their respective officers, directors, shareholders,
owners, employees, or agents for any damages,
liability, or causes of action relating to this
solicitation process or the marketing or sale of
the Property.
This Offering Memorandum shall not be deemed
to represent the state of affairs of the Property
or constitute an indication that there has been
no change in the state of affairs of the Property
since the date this Offering Memorandum.
Exclusively Offered by:Tim DulanySenior Vice President+1 602 222 5186 [email protected]
Colliers International2390 E Camelback Rd, Ste 100Phoenix, AZ 85016colliers.com /arizona