PHOENIX – September 15, 2023 – CBRE negotiated the $4.62 million sale of the Sun West Medical Complex, located at 13920 West Camino Del Sol in Sun City West, to a private buyer.
Geoffrey Turbow, Gary Cornish and Nick Williams of CBRE's Investment Properties represented the seller, Miami-based Creative Realty Group, in the transaction.
"This property will provide its new owner a rare opportunity to acquire a stabilized medical complex that is 92% occupied," said Mr. Turbow, CBRE's senior vice president. "Medical office leasing has continued to perform well, and this property has exceptional upside from market fundamentals."
The 17,484-sq.-ft.-complex is in the center of the popular northwest retirement community, Sun City West. The nearly full building is a mix of local medical providers. The one-story property was built in 2001 and features a contemporary design across 1.7 acres. The complex has ample patient parking, including 60 parking spaces plus 16 covered spaces.
“We were thrilled to continue our partnership with Geoff and CBRE on the sale of Sun West, with the outcome ultimately exceeding our expectations,” said Kevin Lurie with Creative Realty Group. “Their team's communication with each other and seamless transaction management were top-notch. We continue to seek out additional value-added medical properties throughout the country.”
The healthcare industry dominates Sun City West, as 86% of the population is over 65 years old. The complex is less than a mile from Banner Del E. Webb Medical Center, the eighth-largest hospital in metro Phoenix.