The Carondelet Foothills Surgery Center at 2220 W Orange Grove Road in Tucson sold to a California investor for $7.6 million ($551 PSF) The property has leased to Carondelet Foothills Surgery since 2005.
Located west of the Northwest Medical Center Campus - a prominent Southern Arizona hospital campus with 300 beds and over 500 physicians. La Cholla Blvd, north of River Road is a highly sought after medical office location and a preferred medical corridor with limited vacancy and significant barriers to entry.
Recent improvement projects along Orange Grove Rd from Oracle Road to Interstate 10 and La Cholla Blvd from Overton Rd to Magee Rd will ensure continued growth in capacity for these corridors. These are two of the busiest corridors in Northwest Tucson. The Northwest Medical Center Campus continues to grow attracting medical users.
The seller was Tucson-based AN2H2 LLC and NW Ambulatory Bldg LLC (Michael Wattis, manager). The investor was Howe Family LP and C&G Howe LLC (Cecil W Howe, manager).
Michael Sandahl and Martin Encinas with CBRE in Tucson handled the transaction.
Sandahl can be reached at 520.323.5115 and Encinas is at 520.323.5173 for more information.
To learn more see RED COMP #3482.