{"id":1004742828,"date":"2025-01-10T04:31:10","date_gmt":"2025-01-10T12:31:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004742828"},"modified":"2025-01-10T04:52:28","modified_gmt":"2025-01-10T12:52:28","slug":"fully-leased-phoenix-medical-facility-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/fully-leased-phoenix-medical-facility-changes-hands\/","title":{"rendered":"Fully Leased Phoenix Medical Facility Changes Hands"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/Chandler-Medical-Pavilion-in-Chandler-Ariz.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004742830\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/chandler-medical-pavilion-in-chandler-ariz-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/Chandler-Medical-Pavilion-in-Chandler-Ariz-edited.jpg\" data-orig-size=\"1995,1498\" 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;1707922280&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=\"Chandler Medical Pavilion in Chandler, Ariz.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/Chandler-Medical-Pavilion-in-Chandler-Ariz-edited.jpg?w=1024\" height=\"769\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/Chandler-Medical-Pavilion-in-Chandler-Ariz-edited.jpg\" alt=\"Exterior shot of Chandler Medical Pavilion, a 65,931-square- foot outpatient facility in Chandler, Ariz.\" class=\"wp-image-1004742830\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/Chandler-Medical-Pavilion-in-Chandler-Ariz-edited.jpg 1995w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/Chandler-Medical-Pavilion-in-Chandler-Ariz-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/Chandler-Medical-Pavilion-in-Chandler-Ariz-edited.jpg?resize=768,577 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/Chandler-Medical-Pavilion-in-Chandler-Ariz-edited.jpg?resize=1024,769 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/Chandler-Medical-Pavilion-in-Chandler-Ariz-edited.jpg?resize=1536,1153 1536w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">Chandler Medical Pavilion is fully leased by a single tenant. <em>Image courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Montecito Medical Real Estate has acquired Chandler Medical Pavilion, a 65,931-square-foot outpatient facility in Chandler, Ariz., for $30 million. <\/p>\n\n\n\n<p>JLL\u2019s Medical Properties Capital Markets team brokered the transaction and worked on behalf of the seller, a partnership between Unbound Development and Webb Investments.<\/p>\n\n\n\n<p>In early 2022, the property became subject to a 10-year, $22 million permanent loan from First-Citizens Bank &amp; Trust Co., CommercialEdge data shows.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-tailor-made-for-banner-health\">Tailor-made for Banner Health<\/h2>\n\n\n\n<p>The Class A medical office building is fully leased, as the property was completed in 2021 to meet the needs of a single tenant, Banner Health. Chandler Medical Pavilion is a three-story ambulatory surgery facility featuring three operating rooms, an imaging center and cardiology department, as well as a Banner Health Clinic with gastroenterology, endocrinology and orthopedics divisions. The property includes grade-level parking with upwards of 300 spots.<\/p>\n\n\n\n<p>Chandler Medical Pavilion is at 1125 S. Alma School Road, just off Arizona State Route 202 and across the road from the Banner Ocotillo Medical Center. Chandler Regional Medical Center and the East Valley Dermatology Center are both less than 2 miles from the property. Downtown Phoenix is some 22 miles northwest.<\/p>\n\n\n\n<p>In a recent interview with <em>Commercial Property Executive<\/em>, Alliance CGC Founder &amp; CEO Ben Reinberg talked about the factors currently fueling demand for <a href=\"https:\/\/www.commercialsearch.com\/news\/challenges-create-opportunities-says-mob-investor\/\">medical outpatient centers<\/a> across the country. <\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Montecito Medical Real Estate purchased the single-tenant property.<\/p>\n","protected":false},"author":3619,"featured_media":1004742830,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21754,21742,1601,15],"tags":[44006,35085],"class_list":["post-1004742828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-medical-office","category-latest","category-phoenix","category-west","tag-jll-capital-markets","tag-montecito-medical"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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