X-Message-Number: 2315
Date: Sun, 27 Jun 93 20:03 GMT
From: David Brandt-Erichsen <>
Subject: CRYONICS Alcor Bldg.

>From David Brandt-Erichsen ()

Yesterday (June 26) I had the opportunity to see the building 
that Alcor has placed a non-binding down payment on.  I was quite 
impressed that this would be a good opportunity for Alcor, so I 
offer this preliminary report from one observer.
 
The building is in Scottsdale, Arizona (a suburb of Phoenix) in 
the Scottsdale Air Park, very near to where another (smaller) 
building was previously considered by Alcor.  The proximity to 
the airport would make air ambulance service readily accessible.  
Regular air traffic, however, would be through Sky Harbor Airport 
about a half hour's drive away.
 
The building has a footprint of 19,000 square feet, and consists 
of eleven units, of which Alcor presently would need only three.  
This means that the rest of the building can be leased out to 
provide income, and be available for future expansion as Alcor 
grows, removing the need for periodic moves to larger quarters.  
This, I think, is one of the most attractive features this 
building provides.
 
The building is selling for $780,000 and is considered to be 
about $400,000 under market value, or what it would cost to build 
a similar building.  It has 18-foot cielings, something that 
Alcor needs and is hard to find.  Remodeling requirements would 
be minimal.  A previous tenant remodeled one of the units to 
create an extremely nice office that would give Alcor a very 
professional look at no extra charge.  I heard Steve Bridge say 
"The closet here is nicer than my current office!"
 
A move to Scottsdale would have another benefit for Alcor.  
Alcor's chief surgeon, Dr. Nancy McCeachern (she's a doctor of 
veterinary medicine and a suspension member), lives in Phoenix.  
Her fee per suspension would be reduced from $3500 to $2500 
because local suspensions would be less disruptive to her 
practice.  Also, she is anxious to train two other people to do 
the surgery, and this can't be easily done from a distance.  
She also has an excellent research background, having helped 
develop the first heart-lung machine, so the move would allow 
Alcor to do additional research as well.
 
The combined advantages of getting Alcor out of the earthquake 
belt and obtaining a building that would provide income plus 
plenty of room for expansion in the future makes this look like a 
good deal to me, provided, of course, that the financing can be 
accomplished in a suitably conservative manner.

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