{"id":1004335205,"date":"2019-06-28T11:21:45","date_gmt":"2019-06-28T19:21:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004335205"},"modified":"2022-03-03T04:09:23","modified_gmt":"2022-03-03T12:09:23","slug":"hammes-partners-pays-409-per-sqft-for-az-medical-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hammes-partners-pays-409-per-sqft-for-az-medical-building\/","title":{"rendered":"Hammes Partners Pays $409 Per SQFT for AZ Medical Building"},"content":{"rendered":"<div id=\"attachment_1004335208\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/Spectrum-Medical-Commons.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004335208\" data-attachment-id=\"1004335208\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hammes-partners-pays-409-per-sqft-for-az-medical-building\/spectrum-medical-commons\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/Spectrum-Medical-Commons.jpg\" data-orig-size=\"640,512\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Spectrum Medical Commons\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Spectrum Medical Commons. Image courtesy of Yardi Matrix&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/Spectrum-Medical-Commons.jpg?w=640\" class=\"wp-image-1004335208 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/Spectrum-Medical-Commons.jpg\" alt=\"\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/Spectrum-Medical-Commons.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/Spectrum-Medical-Commons.jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004335208\" class=\"wp-caption-text\">Spectrum Medical Commons. <em>Image courtesy of Yardi Matrix<\/em><\/p><\/div>\n<p>Private equity platform Hammes Partners purchased Spectrum Medical Commons in Gilbert, Ariz., two years after <a href=\"https:\/\/www.commercialsearch.com\/news\/irgens-snags-80m-financing-for-milwaukee-office-tower\/\">developer Irgens<\/a> completed the project. The 43,355-square-foot property sold for $17.8 million or $409.41 per square foot. According to Yardi Matrix data, the purchase was all cash.<\/p>\n<p>Located at 3367 S. Mercy Road, the asset is adjacent to Mercy Gilbert Medical Center and close to other medical office parks. The tenants include Pain Stop Clinic, Dignity Health, Warner Park Surgery Center, The Center for Advanced Surgery and Advanced Surgical Associates. According to Yardi Matrix data, the property was 78 percent occupied. Kidder Mathews is the leasing broker.&nbsp; &nbsp;&nbsp;<\/p>\n<p>JLL\u2019s Executive Vice President Brian Ackerman, who facilitated the transaction, said interest in the property has been high due to its location, stable tenancy and rents. The Southeast Valley, which includes Gilbert, has more than 300,000 square feet of medical office space under construction while rental rates remained affordable.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Spectrum Medical Commons, developed by Irgens in 2017, is adjacent to Mercy Gilbert Medical Center. JLL brokered the $17.8 million transaction. <\/p>\n","protected":false},"author":30,"featured_media":1004335208,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,21754,21742,1601,15],"tags":[37091,32796,33612],"class_list":["post-1004335205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-medical-office","category-latest","category-phoenix","category-west","tag-irgens","tag-jll","tag-kidder-mathews"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hammes Partners Pays $409 Per SQFT for AZ Medical Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hammes-partners-pays-409-per-sqft-for-az-medical-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hammes Partners Pays $409 Per SQFT for AZ Medical Building\" \/>\n<meta property=\"og:description\" content=\"Spectrum Medical Commons, developed by Irgens in 2017, is adjacent to Mercy Gilbert Medical Center. JLL brokered the $17.8 million transaction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hammes-partners-pays-409-per-sqft-for-az-medical-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-28T19:21:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-03T12:09:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/Spectrum-Medical-Commons.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Roxana Baiceanu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hammes-partners-pays-409-per-sqft-for-az-medical-building\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hammes-partners-pays-409-per-sqft-for-az-medical-building\/\",\"name\":\"Hammes Partners Pays $409 Per SQFT for AZ Medical Building - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hammes-partners-pays-409-per-sqft-for-az-medical-building\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hammes-partners-pays-409-per-sqft-for-az-medical-building\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/Spectrum-Medical-Commons.jpg\",\"datePublished\":\"2019-06-28T19:21:45+00:00\",\"dateModified\":\"2022-03-03T12:09:23+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/b9dffbe4e6d3437c6ee209677f7462f2\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hammes-partners-pays-409-per-sqft-for-az-medical-building\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/hammes-partners-pays-409-per-sqft-for-az-medical-building\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hammes-partners-pays-409-per-sqft-for-az-medical-building\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/Spectrum-Medical-Commons.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/Spectrum-Medical-Commons.jpg\",\"width\":640,\"height\":512,\"caption\":\"Spectrum Medical Commons. 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