Med Office Daily - May 7, 2025

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NEWS ROUNDUP

ACQUISITION: Transwestern Investment Group acquires MOB for $36M in Gilbert, AZ. The 93,262 SF property, Copper point, is located on an 8-acre site at 3350 S. Val Vista Drive. The firm secured $24.9 million in financing from First Citizens Bank. Previously owned by RX Health & Science Trust, the property is 87% leased to tenants including City of Hope, Phoenix Children’s, and Prosano Health. RX will continue managing the facility through lease-up and stabilization.

DEVELOPMENT: Anchor Health opens HonorHealth medical campus at Peoria, AZ. The 100,000 SF, Class A, multi-specialty outpatient facility is located at 15000 N. 83rd Avenue. Developed in partnership with HonorHealth and SMIL, the three-story building consolidates cancer care, primary care, physical therapy, surgery, and imaging under one roof. Anchor oversaw all development phases and will provide ongoing property management. Full operations are expected by May 2025. Sean Miller represented Anchor Health Properties, while Todd LaPorte represented HonorHealth.

ACQUISITION: Montecito Medical acquires six-building ophthalmology portfolio in Atlanta. The 85,000 SF ophthalmology portfolio across the Atlanta metro, is fully leased to Thomas Eye Group. Located in Roswell, Sandy Springs, Tyrone, Newnan, Woodstock, and Lilburn, GA., the properties include two surgery centers. The deal expands Montecito’s Atlanta-area footprint to 35 assets and continues its strategy of partnering with market-leading provider groups. SVP Rus Gudnyy and CEO Chip Conk represented Montecito Medical in the transaction.

DEVELOPMENT: Keck Medicine of USC to open medical office in Pasadena. Keck Medicine of USC has signed a lease for a four-story, 100,000 SF outpatient facility at 590 S. Fair Oaks Ave. in Pasadena, with opening slated for fall 2025. The Class A building will house oncology, cardiovascular, orthopedics, imaging, surgery, and physical therapy services, and feature breakthrough cancer technology. Keck Medicine will continue operating its existing Pasadena location nearby at 625 S. Fair Oaks Ave. Rod Hanners and Smitha Ravipudi represented Keck Medicine in the transaction.

FINANCING: Equity secures $12.5M refinancing for Amarillo MOB. Newmark Healthcare Capital Markets has arranged refinancing for 3501 MedCenter, a 146,000 SF medical office building in Amarillo, Texas. East West Bank provided the loan to borrower Equity. The single-story facility, 87% leased at closing, includes tenants such as Northwest Texas Healthcare System, Amarillo Gastroenterology, and Spine & Sports Wellness Clinic. Newmark’s John Nero, Michael Greeley, Jay Miele, Ben Appel, Conor Hilton, Ron Ott, and Chad Prescher arranged the deal.

MED OFFICE PROPERTIES FOR SALE

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19,622 SF Building | Access to Interstate 85 | 4.92/1,000 SF Parking Ratio

2,173 SF Building | Access to Melbourne Orlando Intl Airport | 4 Medical Rooms | 4.6/1,000 SF Parking Ratio

MED OFFICE PROPERTIES FOR LEASE

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60,000 SF Building | Access to I-210 Freeway | Ample Parking

1,605-4,255 SF Suites | 23,732 SF Building | Access to Freeways 405, 261, 55, and John Wayne/Orange County Airport | 192 Surface Parking Spaces

ONE MORE THING

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