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1/10/25
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Montecito Medical Real Estate purchased Chandler Medical Pavilion, a fully leased outpatient medical building totaling 65.9k sf of space in Chandler, AZ. The property traded for $30 mil, or about $455/sf.
Chandler Medical Pavilion was completed in 2021 as a build-to-suit for the property’s sole tenant, Banner Health, the largest integrated health system in Phoenix and Arizona. The highly specialized outpatient center offers an ambulatory surgery center with three operating rooms, an advanced imaging center, an accredited cardiology department and a Banner Health Clinic offering gastroenterology, endocrinology and orthopedics.
Located at 1125 S. Alma School Rd, Chandler Medical Pavilion is located adjacent to the recently built Banner Ocotillo Medical Center benefiting from excellent accessibility and visibility from Loop 202. Chandler is one of the fastest growing areas in the Phoenix metro, experiencing annual population growth of 2.7% on average since 2010.
JLL’s Medical Properties Capital Markets team represented the seller, a partnership between Unbound Development and Webb Investments, and procured the buyer in the deal.
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