Med Office List
Posts
Med Office Daily - May 21, 2025

Med Office Daily - May 21, 2025

Elliot Bay buys Tucson MOB for $5.5M. Surgical hospital, MOB sold in Thousand Oaks. Kraus-Anderson begins $6.5M clinic, ASC. Pearl River unveils Sendero in Bastrop. Cushman & Wakefield refinances Boston MOB. Six new MOB deals.

Matt H & Maham Riaz
May 21, 2025

Good morning. This is Med Office List, the clearinghouse for MOB news.

→ We are here to serve the owners, brokers, and tenants who are interested in medical office and healthcare real estate. Do us a favor and forward this email to your favorite healthcare real estate pro. They can sign up here.

Now, let’s get to it.

NEWS ROUNDUP

ACQUISITION: Elliot Bay Medical Properties Holdings III LLC acquires MOB in Tucson, AZ., for $5.5M. Located at 4881 Grant Rd., the 15,000 SF, two-story building is fully leased to the Pain Institute of Southern Arizona. Cushman & Wakefield’s Travis Ives, Gino Lollio, and Tyler Morss in collaboration with Bryce Horner of Cushman & Wakefield | PICOR who provided local advisory, represented the seller, Hazen Enterprises in the transaction.

ACQUISITION: Surgical hospital & MOB sell in Thousand Oaks, CA. The 85,731 SF portfolio was 95% leased at closing, with anchor tenant Thousand Oaks Surgical Hospital operating as part of HCA Healthcare. Berkadia Medical & Life Sciences represented the seller in the transaction.

DEVELOPMENT: Kraus-Anderson breaks ground on $6.5M clinic and ASC in Phoenix. The 12,717 SF clinic and ambulatory surgery center for Advanced Spine and Pain (ASP) is located at 1690 N. 95th Ave. The new facility will feature a surgery center, specialty clinic, and space for lease. Cotton Architecture and Design designed the project, ASP’s 14th location in the Valley.

DEVELOPMENT: Pearl River announces 75-Acre mixed-use project Sendero in Bastrop, TX. Located at the intersection of Highway 71 and FM 969, the project will feature over 250,000 SF of retail/dining, 5+ acres of public greenspace, 782 multifamily units, a 120+ key hotel, and over 90,000 SF of wellness/medical office space. The commercial phase breaks ground in April 2025 with phased completion through 2030. Mason Mote and Spencer Harkness represented Pearl River Companies.

FINANCING: Cushman & Wakefield arranges refinancing for MOB near Boston. Cushman & Wakefield’s Tyler Morss along with co-leads Travis Ives and Gino Lollio represented the owner, Thomas Park Investments for the refinancing of Cohasset Family Health Center located in the Greater Boston area. The 35,000 SF, three-story MOB features strong occupancy and a long-term tenant base. Financing was provided by a bank lender.