Med Office Daily - March 18, 2026 - SSP Investments buys two MOBs for $26.2M

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NEWS ROUNDUP

ACQUISITION: SSP Investments acquires two fully leased MOBs in Phoenix and San Rafael for $26.2M as part of a 1031 exchange. CBRE arranged both transactions on behalf of the Bay Area-based family office. The Phoenix asset, a 42,067 SF medical outpatient building at 8921 W. Thomas Road, sold for $17 million. The property, built in 2005, is leased to SimonMed Imaging and sits across from the 317-bed Banner Estrella Medical Center. The second property, a 27,200 SF building at 111 Smith Ranch Road in San Rafael, traded for $9.2 million. The two-story building, completed in 1993, is leased to Kaiser Permanente for its Psychiatry & Addiction Medicine Services.

ACQUISITION: Woodside Health acquires Greenfield MOB in Gilbert, Arizona. McDowell Enterprises previously owned the property. The 29,828 SF, single-story building, completed in 2001 at 2450 E. Guadalupe Road, was fully leased at the time of sale. Mountain View Surgery Center Gilbert, a partnership between physician owners and United Surgical Partners International, anchors the property, alongside ophthalmology, dental, and vascular practices. The facility includes 132 parking spaces and 2,100 SF of retail space and is located about 24 miles from downtown Phoenix.

ACQUISITION: Albany Road Entity acquires three-building MOB portfolio in Stamford, CT. Albany Road-Summer Street LLC, an entity managed by Albany Road Real Estate Partners, acquired the Summer Street Medical Portfolio in Stamford, Connecticut, from Summer Street Properties, LLC for an undisclosed amount. CBRE represented the seller and procured the buyer. The brokerage team included Jeff Dunne, Steve Bardsley, and Travis Langer, working with Brannan Knott and Chris Bodnar of CBRE’s U.S. Healthcare Capital Markets. The 85 percent leased portfolio consists of three multi-tenant outpatient medical buildings at 945, 999, and 1275 Summer St.

LEASE SIGNING: Orthodontic Experts signs a long-term lease at 5991 Central Avenue in Portage, Indiana. Myles Rapchak of Latitude Commercial represented the landlord in the lease negotiations. The property offers strong visibility and accessibility along one of Portage’s main commercial corridors. Orthodontic Experts provides braces, Invisalign, and other orthodontic treatments for children, teens, and adults. The lease reflects continued demand for healthcare and service-oriented tenants in the Central Avenue corridor.

DEVELOPMENT: Cypress Development Partners completes Orthopedic ASC in Middleton, Wisconsin. The Middleton Medical Collaborative, a 12,500 SF freestanding orthopedic ambulatory surgery center, was developed in partnership with Orthopedic & Spine Centers of Wisconsin. Jason Anzalone, Managing Partner at Cypress Development Partners, highlighted the project’s rapid delivery, with construction completed within a six-month timeline. Vogel Bros. Building Co served as the general contractor, and HGA was the project architect.

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