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2/02/26
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Coast Income Properties Inc has purchased Halsted Medical Plaza, a 28k sf medical outpatient building located at 1725-1727 W. Frye Road in Chandler, AZ. The price was not given out.
Halsted Medical Plaza, constructed in 2008, sits directly adjacent to Chandler Regional Medical Center (CRMC), a regionally dominant hospital with a 34% acute care market share within a 10-mile radius. CRMC has demonstrated strong growth, completing its second major expansion in 2021 by adding 96 beds and 1,100 parking spaces. Halsted Medical Plaza is anchored by Dignity Health, an affiliate of CommonSpirit Health, which performs high-acuity services and recently expanded its premises to offer fetal diagnostics.
Located less than a mile east of Loop 101 and north of the 202 Freeways, Halsted Medical Plaza is accessible to a population of 285,729 in Chandler with a medium household income of $107,339, which is 23% higher than the Phoenix MSA and 36% higher than the national median. Chandler also benefits from growing and diverse economic activity. Phoenix continues to maintain its title as one of the fastest growing MSAs in the country with an estimated 4.9% growth by 2029, more than 2.5x the national average.
Chris Bodnar, Brannan Knott, and Cole Reethof of CBRE U.S. Healthcare Capital Markets group partnered with Philip Wurth of CBRE’s Phoenix Healthcare Leasing team to act as the exclusive advisors to the seller. Additionally, Zack Holderman and Jesse Greshin of CBRE’s U.S. Healthcare Debt & Structured Finance team, along with Amber Coleman from CBRE’s Phoenix Office, arranged the bank acquisition financing for the purchaser.
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