Hammes Partners to Build Phoenix-Area MOB

Rendering of Buckeye Medical Plaza. Image courtesy of Avison Young

The health-care real estate investment and development company Hammes Partners has acquired a 4.2-acre land parcel for the development of Buckeye Medical Plaza, a 45,000-square-foot medical office project in Buckeye, Ariz. According to Maricopa County records, Wilson Property Services Inc. sold the parcel for $4 million.

Avison Young Principal James DeCremer represented the seller in the transaction, while President Melynn Wakeman of Wakeman Integrity represented the buyer.

The two-story medical office building is slated for completion in the third quarter of 2023. The site is located at the northeast corner of Watson Road and Sundance Parkway. The lot is 30 miles from Phoenix and 1.5 miles from Interstate 10, along a major retail corridor, which includes Lowe’s Home Improvement, Walmart and Sundance Towne Center. Other medical offices in the surrounding area include dental care facilities, such as Sundance Dental Group, which is adjacent to the property, as well as Desert Valley Pediatric Dentistry and Sandstone Oral Maxillofacial Surgery, among others.

DeCremer stated in prepared remarks that there is a demand for medical facilities in Buckeye due to the area’s expanding population. According to CommercialEdge data, in Phoenix and the surrounding submarkets, there are 42 medical office buildings in various stages of development.

Phoenix has seen a steady transaction activity in the medical office sector since the beginning on the year. Altera entered the market in February, with the acquisition of a 130,000-square-foot MOB in Gilbert, Ariz., while in June, Woodside Health Development paid $20 million for an 81,907-square-foot property in Phoenix.