{"id":1004550313,"date":"2021-09-10T08:21:17","date_gmt":"2021-09-10T16:21:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004550313"},"modified":"2022-12-08T04:15:48","modified_gmt":"2022-12-08T12:15:48","slug":"ca-ventures-buys-phoenix-mob-for-33m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ca-ventures-buys-phoenix-mob-for-33m\/","title":{"rendered":"CA Ventures Buys Phoenix MOB for $33M"},"content":{"rendered":"
\"\"<\/a>

Copper Point. Photo courtesy of Newmark<\/p><\/div>\n

Chicago-based CA Ventures has entered the Gilbert, Ariz., medical office market with the purchase of Copper Point. The investor paid $33 million for the property in an off-market transaction. West Coast Capital Partners sold the property, which was 96 percent occupied at the time of the sale.<\/p>\n

A Newmark team of Kathleen Morgan and Trisha Talbot negotiated on behalf of West Coast Capital Partners in the transaction, while CA Ventures was self-represented. Newmark is also the leasing manager of the property.<\/p>\n

According to CommercialEdge, Copper Point last traded in 2013, when West Coast Capital Partners acquired it for $10.7 million. In 2019, The Decurion Corp. acquired a 36 percent ownership stake in the property, also for $10.7 million. The same year, the asset became subject to a $16 million loan, held by TIAA.<\/p>\n

Last year, CA Ventures launched a new medical office and life sciences division. The firm announced at the time that it will invest $500 million annually in this new branch.<\/p>\n

The newly acquired Copper Point is a Class B, two-story, 91,805-square-foot building, located at 3530 S. Val Vista Drive. Completed in 2007, it offers floorplates ranging from 13,478 and 20,071 square feet and is occupied by a mix of orthopedic surgery, oncology, cardiology and lab tenants.<\/p>\n

Copper Point is situated adjacent to the Santan Freeway and in the vicinity of Dignity Health Mercy Gilbert Medical Center and The Medical Plaza at Spectrum, which comprise a multitude of other health care facilities. According to Newmark research, the Gilbert medical office market has a 16.5 percent higher average asking rent when compared to the Phoenix metro, due to the quality of the product.<\/p>\n

Earlier this year, another medical office property changed hands in Gilbert, located less than a mile from Copper Point. A private equity firm paid $24 million for OrthoArizona<\/a>, a 49,400-square-foot surgery center and office building.<\/p>\n","protected":false},"excerpt":{"rendered":"

The building last traded in 2013 for nearly $11 million.<\/p>\n","protected":false},"author":1284,"featured_media":1004550316,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21754,21742,1601,15],"tags":[41249,50999],"class_list":["post-1004550313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-medical-office","category-latest","category-phoenix","category-west","tag-ca-ventures","tag-newmark"],"acf":[],"yoast_head":"\nCA Ventures Buys Phoenix MOB for $33M - 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\/ca-ventures-buys-phoenix-mob-for-33m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CA Ventures Buys Phoenix MOB for $33M\" \/>\n<meta property=\"og:description\" content=\"The building last traded in 2013 for nearly $11 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ca-ventures-buys-phoenix-mob-for-33m\/\" \/>\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=\"2021-09-10T16:21:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T12:15:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/09\/Copper_Point2-e1631275266715.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2132\" \/>\n\t<meta property=\"og:image:height\" content=\"1599\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tudor Scolca\" \/>\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\/ca-ventures-buys-phoenix-mob-for-33m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/ca-ventures-buys-phoenix-mob-for-33m\/\",\"name\":\"CA Ventures Buys Phoenix MOB for $33M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ca-ventures-buys-phoenix-mob-for-33m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ca-ventures-buys-phoenix-mob-for-33m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/09\/Copper_Point2-e1631275266715.jpg\",\"datePublished\":\"2021-09-10T16:21:17+00:00\",\"dateModified\":\"2022-12-08T12:15:48+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/daae3daa7b99fdfb75a85cb3cd92a26d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ca-ventures-buys-phoenix-mob-for-33m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/ca-ventures-buys-phoenix-mob-for-33m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ca-ventures-buys-phoenix-mob-for-33m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/09\/Copper_Point2-e1631275266715.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/09\/Copper_Point2-e1631275266715.jpg\",\"width\":2132,\"height\":1599,\"caption\":\"Copper Point. 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