Newly Revamped Phoenix Medical Building Nets $9 Million
A 24,800 square foot multi-tenant medical office building traded hands in a recent deal worth $365 a square foot. The newly renovated, two-story building is 100% leased to a stable rental group. The buyer was 1277 Investment Alliance. Helix Properties was the seller.
Mike Wichterman led a group of Cushman & Wakefield agents who repped the seller, “This was a high-quality investment opportunity of a stable and fully renovated medical office building in the upscale and amenity-rich Biltmore-Camelback Corridor. The seller had recently invested $1 million in completing a series of interior/exterior renovations and tenant improvement during 2020/2021.”
Built in 1975, the Missouri Professional Plaza is located at 1277 E. Missouri. It’s near a number of retail stores and restaurants surround the project in all directions. 7th Street “Restaurant Row” is just a half-mile a way.