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9/16/26
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Lincoln Property Company and PGIM have teamed up in the acquisition of Surgery Center of Gilbert, a 14k sf surgery center in metro Phoenix’s East Valley submarket. The price was not given out.
Located on 1.77 acres at 6003 E. Baseline Rd, Surgery Center of Gilbert is a purpose-built, single-tenant ambulatory surgery center occupied and operated by a partnership of Banner Health, Atlas and physician surgical partners. The property is secured by a long-term lease to Banner and its surgical partners.
Banner Health is one of the largest non-profit health systems in the U.S., including a network of over 20 ambulatory surgery centers across greater Phoenix. The property is easily accessed by the US 60 and Loop 202 freeways, offering quick connection to the entire metro market.
A best-in-class outpatient surgical facility, Surgery Center of Gilbert includes five operating rooms, six pre-op rooms and multiple post-anesthesia care unit rooms supporting phase 1 and phase 2 care. Collectively, the facility supports 21 medical practitioners working across eight specialties, including general surgery, ophthalmology, plastic surgery, podiatry, ENT, orthopedics and urology.
The dense retail and healthcare corridor boasts a daytime population of almost 280,000, and over 124,000 households and 7,500 businesses within a five-mile radius, including the nearby Banner Gateway Medical Center and Banner MD Anderson Cancer Center.
The purchase represents Lincoln and PGIM’s first acquisition together in metro Phoenix, with an eye toward securing more healthcare real estate in a market that is high priority for the partners.
“We continue to see compelling opportunities in medical outpatient real estate, supported by the long-term shift of care into lower-cost, more accessible settings and the need for high-quality facilities in growth markets,” said Soultana Reigle, Head of U.S. Equity for PGIM’s Real Estate investment group. “This acquisition reflects our strategy of investing in healthcare assets with strong local demand drivers, durable tenancy and the potential to deliver resilient income through market cycles.”
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