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Phoenix Office/Medical Campus Lands New Owner

1/05/24

Big Sky Medical Real Estate has purchased Blackhawk Corporate Center, a three building, 252.4k sf office/medical campus in the Deer Valley submarket of Phoenix. The price was not given out.

Conveniently and strategically positioned at the intersection of two major freeways, Interstate 17 and Loop 101, Blackhawk Corporate Center was 96% leased at the time of sale to a variety of office and medical users. It was sold by ViaWest Group.

Built during 1997 and 1998, Blackhawk Corporate Center is located at 20401 N 29th Ave, and 2902 and 3010 W Agua Fria Fwy. The property features immediate freeway visibility and accessibility from Interstate 17 and Loop 101, and a robust parking ratio of ±5.33/1000. The property is also close to the HonorHealth Deer Valley Medical Center, currently being redeveloped to facilitate a major expansion.

Steve Lindley, Alexandra Loye, Eric Wichterman, and Mike Coover with Cushman & Wakefield in Phoenix represented the seller in the transaction.

“This was a prime investment asset, supported by strong occupancy and credit tenancy. The property has displayed exceptional demand from medical tenants, with functional single-story construction and rising medical demand due to the rapidly growing population in the Northwest Valley—spurred in part by the new TSMC semiconductor plant under construction,” said Loye. “The buyer will be in a position to take advantage of this demand, replacing office tenants with medical, to significantly increase property income and value.”

ViaWest is currently active in Phoenix, San Diego, Salt Lake, Las Vegas, and Denver with a portfolio of owned and managed assets totaling over 13 msf.







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