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Arizona Medical Office Complex Sells for $4.6 Mil

9/15/23

Sun West Medical Complex, a 17.5k sf medical office property in the outskirts of Phoenix, was acquired by a private investor in a $4.62 mil ($264/sf) transaction. The property is located at 13920 West Camino Del Sol, just east of Hwy 60.

The complex is in the center of the popular northwest retirement community, Sun City West. The nearly full building is a mix of local medical providers. The one-story property was built in 2001 and features a contemporary design across 1.7 acres. The complex has ample patient parking, including 60 parking spaces plus 16 covered spaces.

Geoffrey Turbow, Gary Cornish and Nick Williams of CBRE's Investment Properties represented the seller, Miami-based Creative Realty Group, in the transaction.

"This property will provide its new owner a rare opportunity to acquire a stabilized medical complex that is 92% occupied," said Turbow. "Medical office leasing has continued to perform well, and this property has exceptional upside from market fundamentals."

The healthcare industry dominates Sun City West, as 86% of the population is over 65 years old. The complex is less than a mile from Banner Del E. Webb Medical Center, the eighth-largest hospital in metro Phoenix.






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