A 5,022 sq. ft. medical office building has been sold in Glendale, AZ.
Tempe, AZ (November 13, 2024) – Menlo Group Commercial Real Estate is pleased to announce the sale of a 5,022-square-foot, single-story, freestanding medical office building in Glendale, Ariz. Located at 16222 N. 59th Ave., the property is part of a four-building medical office complex and was sold for $2.15 million.
This sale marks a significant transaction in the Glendale medical office submarket. Located near major hospitals and highways, the complex offers the largest available block of medical space and is well-positioned for various medical users.
“This property’s strategic location and the growing demand for medical space in the West Valley made it a highly attractive investment opportunity,” said Steve Berghoff, SIOR, CCIM, of Menlo Group. “We’re thrilled to have helped facilitate this sale and secure a fantastic price of $428 per square foot.”
Berghoff and Stuart Milne, SIOR, CCIM, of Menlo Group represented the seller, Boa Sorte Limited Partnership and Arrowhead 59 LLC, in the transaction. The buyer was Sun Radiology, a prominent provider in the region.
Earlier this year, Menlo Group assisted the current owners in acquiring the approximately 40,000-square-foot Arrowhead Professional Medical Plaza as an investment opportunity. The commercial real estate firm plans to help sell three medical office buildings.
“It has been a pleasure working with the property owners and securing the best outcome for their investment,” Milne said. “The buyer is well-positioned to serve the healthcare needs of the community.”