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10/01/26
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A three-building, 98.5k sf medical office portfolio in the Phoenix Metro area sold in deals totaling $12.8 mil ($130/sf). The properties were sold by a national healthcare company.
2302 N. 75th Ave, Phoenix |
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The portfolio consists of the following properties:
• 5891 W. Eugie Ave in Glendale – a 35.8k sf, two-story medical office building
• 2302 N. 75th Ave in Phoenix – a 44k sf, two-story medical office building
• 1717 W. Chandler Blvd in Chandler -- an 18.6k sf, single-story medical office building
MCR Companies, a real estate and private equity investment company completing a 1031 exchange, acquired the properties in Glendale and Chandler. Empower College Prep purchased the asset in Phoenix with the intention of occupying the premises.
All three buildings are positioned near flagship health system campuses in their respective submarkets: Banner Thunderbird Medical Center in Glendale, Banner Estrella Medical Center in Phoenix, and Dignity Health Chandler Regional Medical Center in Chandler.
The portfolio includes a mix of vacant and partially leased space, adaptable clinical layouts and parking intended to accommodate medical office uses. The three properties span approximately 9.3 acres.
Geoffrey Turbow, Emily Minnier, Brian Butler and W. Glenn Dyke of CBRE represented the seller in the three transactions.
According to CBRE Research, U.S. medical outpatient building investment volume increased 24% year over year in the second quarter of 2026 to $2.7 bil. Average asking rents reached a record $25.46 per square foot, while the sector recorded its fifth consecutive quarter of positive net absorption.
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