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Medical Office Sales

Investing in outpatient medical office for landlords and physician owners is attractive in this purpose driven, mission critical asset class, please schedule a call to discuss your next opportunity.

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Scottsdale Medical Pavilion

7331 E. Osborn Rd, Scottsdale, AZ

Owned by Klingbeil Capital Management based in San Francisco, the Seller was ready to exit the asset. The Scottsdale Medical Pavilion was a rare opportunity to own a fee-simple, multi-tenant ±53,137 SF medical office building in Old Town Scottsdale, which is adjacent to HonorHealth Scottsdale Osborn Medical Center. The project was cash-flow positive with tremendous upside and potential.

The project was favorably positioned within the Old Town Scottsdale community in the medical district. The Property is located across the street from HonorHealth Scottsdale Osborn Medical Campus, a 337-bed full service hospital named as a Top 100 Hospital by Truven in 2015. After receiving great interest and multiple offers, the buyer was Centum Health Properties out of Denver, who owns several medical office buildings in the Phoenix area.

Trisha’s guest is the CEO of Centum Health Properties, James Turpen the buyer of this property

Trisha’s podcast guest is the seller of the property, Mark Mullen, Senior Vice President of Development with Klingbeil Capital Management

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Copper Point is a multi-tenant medical building owned several years by a private real estate investment company. It was one of the first medical office buildings located by Dignity Health’s Mercy Gilbert Medical Center and for a long time the only off-campus medical office building. Over the years it has continued to attract medical tenants with its location to the hospital, visibility off the freeway, generous parking availability and ease of access for patients to walk directly into a practice from the parking lot. It is beautifully and practically designed with two gurney sized elevators and offers personality in its architecture.
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The 53,310 square foot, multi-tenant medical office building becomes Woodside Health’s second acquisition in the Phoenix market.  The Seller was United Insurance Company.  The property offered an ideal institutional grade medical office asset.  With an occupancy of 88%, there was upside as well, which was attractive to Woodside, who takes a hands-on approach to asset ownership.

Listen to the buyer Ted Barr, Cofounder of Woodside Health

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Woodside Health, based in Cleveland, Ohio enters the Phoenix medical office market with its acquisition of Arrowhead Creekside. This is an eleven building, 69,930 square foot portfolio of multi-tenant buildings.  This asset was attractive to the buyer based on its location in the Valley, dynamic tenant mix and great freeway access.

Ted Barr, Cofounder of Woodside Health

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Fountain Hills Medical Campus

16838 E. Palisades Blvd., Fountain Hills, AZ

VJ Fountains Hills Medical Center, LLC, a local healthcare real estate investment and development firm sells this MOB to Physicians Realty, LP. The 49,054 square foot multi-tenant medical office building is located in the heart of Fountain Hills.

Developed in 2008, Fountain Hills Medical Campus is the offspring of the joint venture between local health care providers Scottsdale Medical Imaging, Fountain Hills Family Practice and Spooner Physical Therapy, and local developer VJ Properties, all of which desired to create and own a medical campus with complementary services providing complete medical care in the Fountain Hills Market. The result was the pristine, three-building, multi-tenant campus designed to accommodate patients and providers alike.

Listen to the seller Vance Marshall, a principle of VJ Properties Inc

Listen to the buyer Dan Klein, Executive VP and CIO at Physicians Realty Trust

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A healthcare company that occupied a large portion of the property with an expensive tenant improvement investment in their space decided to purchase the building as a distressed bank-owned asset.  There was a few vacancies with second-generation medical build-outs.  Once leased up, the seller put it on the market and it was purchased by a publicly traded real estate investment trust.
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A national healthcare client was attracted to this location because of its opportunity, tenant mix and ability to put its practice into one of the vacant suites.  The property, built in 1985 and renovated in 1999, is a one-story garden-style office with a covered courtyard, multi-tenant and off-campus medical office building.   The synergistic tenant mix consists of several dental specialties, imaging and wellness. Easy access to Loop 101 and U.S. 60 and within proximity to nearby hospitals; Banner Desert Medical Center, Tempe St. Luke’s and Chandler Regional Medical Center.  This was the buyer’s  first acquisition in Arizona.
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2000 E. Southern Avenue is a 13,450 square foot, one-story garden-style multi-tenant medical office building currently 100% occupied.  The tenant mix consists of a surgery center, laboratory and counseling.  The property is closed in close proximity to Tempe St. Luke’s Hospital and Banner health Desert Medical Center.  The Seller was Garnett Capital Corporation, based out of Canada and the Buyer was Boomerang 2000, LLC, based in Mesa.
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