Phoenix, Arizona – CBRE has completed the sale of Willow Creek Medical Center and two adjacent parcels located at 1000-1020 North Willow Creek Road in Prescott, Ariz. The Property totals ±15,622-square-feet on approximately ±1.49 acres and is 96 percent leased to a diverse collection of healthcare-oriented tenants, including Yavapai Regional Medical Center, Southwest Kidney Institute and West Winds Counseling, among many others.
The property commanded significant investor interest and a sale price of $1.50 million, or approximately $96 per square foot.
Andrew K. Fosberg and Dylan A. Brown with CBRE’s Phoenix office represented both the seller, Spanier Investments, LLC , of Prescott, Arizona and the buyer, Wildcat Investments, LLC, of Phoenix, Arizona.
Developed in 1974, the property is situated directly across the street from Yavapai Regional Medical Center West, Prescott’s premier hospital facility which consists of 134 beds and the nationally-respected James Family Heart Medical Center. The Property is located less than a mile north from the Historic Downtown Prescott trade with excellent frontage along Willow Creek Road, Prescott’s major north-south commuter thoroughfare, which features over 35,000 vehicles per day.
“Willow Creek Medical Center’s historical occupancy coupled with the population growth and aging demographics in the Quad City area drew significant investor interest, said CBRE’s Brown. “The property was incredibly appealing due to its superior location along Willow Creek Road directly across the street from Prescott’s major hospital, Yavapai Regional Medical Center West.”