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| Spectrum Medical Commons, 3367 South Mercy Road, Gilbert, AZ |
PHOENIX, AZ –
Bolstered by a booming medical office market, strong demographics and an
institutional-quality asset, two Wisconsin-based real estate firms have traded
hands on a Gilbert, Arizona medical office building called Spectrum Medical
Commons.
The $17.75 million
deal represents a substantial $409.41 per-square-foot.
JLL Executive Vice President Brian
Ackerman facilitated the transaction.
Hammes Partners, a
private equity platform focused exclusively on the U.S. healthcare real estate
market, purchased the asset from Irgens, a commercial real estate development
firm.
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| Brian Ackerman |
“The building has
stable tenancy anchored by multiple long-term leases, in a location with strong
demographics, adjacency to a major hospital and medical submarket and nearby
amenities.”
Located at 3367 S. Mercy Road,
Spectrum Medical Commons totals 43,355 square feet of Class A medical office
space situated adjacent to Mercy Gilbert Medical Center and multiple
nearby medical office parks.
The building
features a modern surgery center with prominent building signage and
near-immediate access to a full interchange at Val Vista Drive and the Loop 202
freeway. It is minutes from San Tan Village Mall, Main Street Commons and other
major shopping and retail centers.
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| Mercy Gilbert Medical Center, Gilbert, AZ |
And while the Southeast Valley – including Gilbert – is experiencing the greatest amount of new medical office construction, currently at more than 300,000 square feet, it is also among the most attractive for rental rates and in high demand from a growing population.
“We see that demand only
continuing to rise,” said Ackerman, “which bodes well for the future of this
new asset.”
CONTACT:
Stacey
Hershauer
Phone: +1 480
600 0195
Email: stacey@focusaz.com
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