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Ohio Investor Pays $16.5 Mil for AZ Medical/Office Campus

7/06/18

Arrowhead Professional Center, a 70.7k sf medical and professional office campus in Glendale, AZ, was acquired by Woodside Health of Cleveland, OH in a $16.5 mil ($233/sf) transaction. The asset was sold by YAM Properties, out of Scottsdale, AZ.

Located at 18301 N. 79th Ave, Arrowhead Professional Center is an eight-building property situated just south of Union Hills Dr in the Arrowhead submarket. The complex is 100% occupied and is anchored by a surgery center jointly owned by Banner Health, Arizona’s largest health system, and the CORE Institute, recognized since 2012 as the top orthopedic group in the state.

Arrowhead Professional Center offers medical tenants five hospitals located within 15 minutes, providing convenient access to four of the largest hospital systems in Arizona. The amenity-rich location has millions of square feet of retail, including the 1.3 msf Arrowhead Towne Center super-regional mall.

Steve Lindley, Bob Buckley, and Tracy Cartledge with Cushman & Wakefield Phoenix’s capital markets group, along with the healthcare team of Sheila Bale, Tom Weinhold and Ryan O’Connor, represented the seller in the deal.





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