Arrowhead Professional Medical Plaza Changes Hands for $7.5M

Menlo Group facilitated the purchase of a four-building medical office complex in Glendale, Ariz.

Tempe, AZ (June 4, 2024) – Menlo Group Commercial Real Estate is pleased to announce the acquisition of Arrowhead Professional Medical Plaza, a premier four-building medical office complex located at 16222 N. 59th Ave. in Glendale, Ariz. The more than 40,000 sq. ft. property presents a prime investment opportunity for the new owners, Boa Sorte Limited Partnership and Arrowhead 59 LLC, with two existing tenants in place and the potential for further development by selling individual condominium units.

Steve Berghoff, SIOR, CCIM, and Stuart Milne, SIOR, CCIM, of Menlo Group, who represented the buyers, facilitated the $7.5 million sale. Kidder Mathews represented the seller.

“This high-end medical office condominium project addresses a significant demand for medical professionals seeking to purchase and occupy commercial real estate for their practice,” Berghoff said. “We are proud to have played a role in this transaction and excited about the opportunities it presents.”

Menlo Group will continue to work closely with the new owners to sell individual medical and general office condos, providing a unique opportunity for healthcare professionals to own their office space within a thriving medical community. The complex is well-positioned to meet the increasing demand for medical office space in the Phoenix West Valley, thus offering substantial growth potential to prospective condo buyers.

In addition to handling the sales, Menlo Group will also take over the management of Arrowhead Professional Medical Plaza, ensuring a seamless transition and maintaining the high standards of service and upkeep that tenants and condo owners expect.

“We are grateful for the opportunity to manage this beautiful medical office complex,” said Brandon Child, Director of Property Management at Menlo Group. “Our team is committed to maximizing the value of this property for our clients and ensuring that it continues to meet the needs of the medical community.”

Menlo Group Commercial Real Estate is a full-service commercial real estate brokerage headquartered in Tempe, Ariz. We specialize in buyer/tenant representation, seller/landlord representation, investment services and real estate consulting. We exist to support clients, advisors and employees in their professional objectives through effective real estate strategies. Learn more at www.menlocre.com.