TUCSON, ARIZONA – Cypress West Partners acquired La Cholla Medical Plaza, a 66,346-square-foot two-story medical office property located at 6130 N La Cholla Blvd in Tucson on the Northwest Medical Campus and Rancho Vistoso Urgent Care, a 50,000-square-foot building at 13101 N Oracle Road in Oro Valley that was vacant at time of sale.
The assets sold for an aggregate of $12.77 million ($110 PSF) according to public records.
Cypress West Partners, a Southern California-based healthcare investment, leasing and property management firm, acquired the high-profile medical office buildings from Healthpeak Properties, a California REIT.
La Cholla Medical Plaza is 83 percent occupied with major tenants that include: Abundant Health Family Practice, AMG Medical & Aesthetics, Arizona Community Physicians, Eye Associates of Tucson, Northwest Healthcare, Pima Heart, and Retina Associates.
La Cholla Medical Plaza represents the rare opportunity to acquire a class A quality medical office building in the Northwest Tucson market. Built in 1997 and 2000, the property benefits from a prominent location on Northwest Medical Center’s Campus, a 300-bed hospital offering a range of healthcare services including emergency services, accredited chest pain and heart failure programs, neurology and neurosurgery, outpatient imaging, a nationally accredited surgical weight loss program, total joint program, spine program and stroke center (distinguished by Joint Commission with Gold Seal designations), robotic surgery, GI lab, a free-standing women’s center, women’s imaging center of excellence (including 3D mammography), inpatient rehabilitation facility, wound care center and five urgent care facilities.
NMC also has three ambulatory surgery centers and affiliated medical practices, including Northwest Allied Physicians offering primary care and a wide range of specialists, Northwest Cardiology, The Heart Center of Southern Arizona and Northwest Heart & Vascular.
Cypress West Realty Management, Inc. will handle property leasing led by Bryan McKenney, director of brokerage services, Cypress West. For more information, McKenney should be reached at 949.478.0087.
To learn more, see RED Comp #8396.