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3/19/25
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Universal Health Services purchased Palo Verde Behavioral Health Center, an 84k sf inpatient behavioral health facility in Tucson, AZ, for $19.1 mil ($227/sf). The property is located at 2695 North Craycroft Rd, north of Grant Rd.
Prior to acquiring the property, UHS had been leasing the majority of the facility as its anchor occupant. UHS will continue to operate an 84-bed acute psychiatric hospital as well as provide outpatient behavioral health services at this location. The project also features two other healthcare-oriented tenants.
Situated on nearly eight acres, Palo Verde Behavioral Health Center is strategically located on the campus of Tucson Medical Center (TMC), a 641-bed hospital that has served the Tucson region for more than 80 years. The location is also adjacent to the future site of the Center for Neurosciences that is planned for development. Palo Verde Behavioral Health Center was originally built in 1985 but has undergone a series of upgrades over the years including the addition of a new south wing in 2015.
The seller was Tucson Medical Center (TMC), which was represented by Travis Ives, Gino Lollio, Tyler Morss of Cushman & Wakefield’s U.S. Healthcare Capital Markets Team in collaboration with Rick Kleiner of Cushman & Wakefield | PICOR in Tucson. According to Ives, the listing generated multiple offers from a variety of buyer profiles.
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