Med Office Daily - July 2, 2025

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NEWS ROUNDUP

ACQUISITION: Scottsdale MOB trades for $44.6M. A commercial real estate investment firm has acquired Scottsdale Centre, a 163,000 SF medical outpatient building in a 1031 exchange. MIG, which purchased the asset for $20.8 million in 2011 and later converted it to primarily medical use, was the seller. The building is 78% leased, with medical tenants occupying 66% of the space. Cushman & Wakefield’s Travis Ives, Gino Lollio, and Tyler Morss represented MIG. Sheila Bale, Erika Eckblad, Tom Weinhold, Tim Whittemore, and Patrick Schrimsher will lead leasing for the new owner.

ACQUISITION: Flagship Healthcare Properties acquires fully renovated MOB in Chattanooga, TN. The 27,657 SF, East Ridge Physicians Building is located at 929 Spring Creek Road near the I-24 and I-75 interchange, adjacent to HCA Parkridge East Hospital. The Class A MOB was fully renovated and rebranded in 2024. The 100% leased asset was acquired through Flagship Healthcare Trust and will be managed by Flagship’s in-house property and asset management teams. EVP Gerald Quattlebaum represented Flagship in the transaction.

DEVELOPMENT: Abrazo opens new MOB in Buckeye, AZ. The new three-story, 60,000 SF medical office building at 21250 W. Roosevelt St. is 90% leased, and offers cardiology, orthopedics, spine care, sports medicine, internal medicine, urology, and physical therapy services. CEO of Abrazo West Campus, Hans Driessnack, represented Abrazo. The project expands healthcare access in one of the West Valley’s fastest-growing areas.

DEVELOPMENT: Anchor Health Properties breaks ground on third HonorHealth Complete Care facility in Phoenix, AZ. The 12,055 SF hybrid emergency and urgent care center is located at 25550 N. Lake Pleasant Parkway in Peoria, Arizona. Developed in partnership with HonorHealth and Intuitive Health, the facility will offer 24/7 walk-in services with emergency, urgent care, trauma, imaging, lab, and pharmacy. Designed by Devenney Group Architects and built by JE Dunn Construction, the project is expected to be completed in early Q1 2026. Sean Miller represented Anchor, while Rick Murdock and Mason Deal represented HonorHealth and Intuitive Health, respectively.

DEVELOPMENT: Atkins and Denholtz complete first phase of Chappaqua medical office renovation. The first phase of the multi-million-dollar capital improvement project at the 490,000 SF Medical Offices at Chappaqua Crossing in Chappaqua, New York, features updates like new LED lighting, ceilings, flooring, lobby furniture, and more. A $6M multi-phase HVAC renovation is also underway. The improvements aim to reduce annual utility and labor costs by over $1.5M. Cory Atkins, Principal at Atkins Companies, emphasized the strategy behind the investment. Tyler Kelsey and Priscilla Paredes have also joined the team as Operations Manager and Property Accountant, respectively.

MED OFFICE PROPERTIES FOR SALE

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16,731 SF Building | Access to Hwy 54, US 41, & Green Bay/Austin Straubel Intl Airport | 9.08/1,000 SF Parking Ratio

2,328-4,978 SF Suites | 42,632 SF Building | 3.8/1,000 SF Parking Ratio | I-465, I-74, & Indianapolis Intl Airport

MED OFFICE PROPERTIES FOR LEASE

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20,229 SF Building | Access to I-94 | 100 Surface Parking Spaces

2,853 SF Suite | 16,000 SF Building | Access to Fwy 55, 57, 22, John Wayne/Orange County Airport, & Long Beach (Daugherty Field) Airport | 100 Surface Parking Spaces

ONE MORE THING

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