PHOENIX, ARIZONA – NAI Horizon represented the seller in the $1.4 million investment sale of a medical office building in the growing West Valley.
NAI Horizon Senior Vice President Troy Giammarco and Agent Joe Pequeno represented Avondale Medical Campus, LLC of Glendale, Arizona, in the sale of 18001 N. 79th Ave., Building E, in Glendale.
Building E totals 6,800-square-feet. The asset is located in the heart of Glendale and Peoria’s Arrowhead neighborhood. It features tremendous traffic counts and strong demographics. It is minutes to Loop 101 off of Union Hills or Bell roads and adjacent to Arrowhead Mall.
“We worked diligently through the holidays with the buyer’s in-house broker, Robert Buzan, to complete all the inspections in order to close before the end of the year,” Giammarco said. “We now have just the C building left for sale.”
Medical office investment sales volume increased 250 percent during 3Q 2020. Medical office median price PSF finished the quarter at $233, a 9.4% increase year-over-year