Phoenix, Arizona – CBRE has completed the sale of a 14,844-square-foot property in Tucson, Ariz. that serves as OneOncology’s newest cancer treatment facility for $5.7 million, or approximately $384 per square foot.
Andrew K. Fosberg and Dylan A. Brown of CBRE in Phoenix office represented the seller, MRR Holdings, LLC, an entity formed by West Coast Capital Partners (Bill Metzler & Scott Douglas, principals) of Scottsdale, Ariz. and Los Angeles, Calif. The buyer was Deerwood Investments Utah, LLC. of Irvine, Calif.
“This brand-new, Class-A cancer center drew significant investor interest, said CBRE’s Fosberg. “The sale is a testament to the medical office sector’s resiliency during this challenging economic climate.”
Situated on 1.81 acres at 10390 North La Canada Drive, the property is 100 percent leased to OneOncology on a new, long-term triple-net lease. The single-story building was originally constructed in 2002 as a retail drug store and was completely renovated in 2020 into a forward-thinking, integrated health and cancer clinic for OneOncology. The property features large glass tenant entries, expansive ceiling heights, building signage, and an intimate and collaborative patient/doctor environment.
The property is conveniently positioned between Northwest Medical Center and Oro Valley Hospital, two of Tucson’s largest hospitals. It is also at the convergence of two affluent residential areas of the Catalina Foothills, Oro Valley and the northwest trade area of Tucson. Located in a strong employment corridor, the property offers excellent access and visibility along North La Canada Drive, a major north-south commuter thoroughfare, which benefits from 40,000 vehicles per day.