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100K-SF MOB Portfolio Changes Hands in Phoenix
A three-building, 98,500-square-foot medical office portfolio in the Phoenix Metro area sold for $12.8 million. The properties were sold by Evernorth Care Group (formerly operated as Cigna Medical Group). MCR Companies, completing a 1031 exchange, acquired the properties in Glendale and Chandler. A Phoenix Property was purchased by Empower College Prep.
The portfolio consists of the following properties:
• 5891 W. Eugie Ave in Glendale – a 35,000 square foot, two-story medical office building
• 2302 N. 75th Ave in Phoenix – a 44,000 square foot, two-story medical office building
• 1717 W. Chandler Blvd in Chandler — an 18,600 square foot, single-story medical office building
All three buildings are positioned near flagship health system campuses in their respective submarkets: Banner Thunderbird Medical Center in Glendale, Banner Estrella Medical Center in Phoenix, and Dignity Health Chandler Regional Medical Center in Chandler.
Geoffrey Turbow, Emily Minnier, Brian Butler and W. Glenn Dyke of CBRE represented the seller in the three transactions.
- ◦Sale/Acquisition
