Plaza Companies and Ryan Companies have sold the Ironwood Medical Pavilion on the Banner Ironwood Medical Center campus in Queen Creek to Hammes Partners for $23.325 million. Plaza Companies will remain a minority joint venture investor and continue providing leasing and property management services.

Ironwood Medical Center is a 60,000-square-foot, three-story Class A medical office building completed in September 2019. The facility is adjacent to the Banner Ironwood Medical Center, a 78-acre medical center campus at the southwest corner of Gantzel Road and Combs Roads in Queen Creek. 

The adjacent Banner Ironwood Medical Center hospital and inpatient facility currently comprise approximately 248,000 square feet with 53 beds and related support site improvements. The medical center is planned to provide for significant expansion of the hospital facility as the area’s demand for medical care grows.

Hammes Partners invests on behalf of institutional investors with an exclusive focus on U.S. healthcare real estate.