PHOENIX, ARIZ. (Dec. 11, 2024) – Outpacing growth in scale and size of transactions from past years, the Kidder Mathews Healthcare Real Estate Services team is celebrating another successful year and looking ahead to 2025.
As the Valley’s population grows, so does the demand for healthcare real estate. Closing the books on 2024, the team facilitated 163 transactions (141 leases and 12 sales) totaling 884,000 SF and $176 million in total consideration.
“The strength of our team stems from the emphasis we put into fostering relationships with our clients and fellow brokers within the marketplace,” said Senior Vice President Michael Dupuy. “The team is always the first call from healthcare professionals, healthcare groups, brokers, landlords and investors to learn about availabilities within the market and/or guidance on purchase or leasing opportunities due to their existing relationships and expertise. This past year was no exception. Looking ahead to 2025, we are working on new deals in the pipeline or under contract including new investment sale opportunities.”
The rest of the team comprises Senior Vice President Fletcher Perry; Senior Vice President Perry Gabuzzi, CCIM; Senior Vice President Rachael Thompson; Associate Chad Sutton; Associate Zack Harris; and Senior Brokerage Coordinator Rachel Wahlers. The team also welcomed back Client Services Coordinator Emily Ernst.
The Metro Phoenix medical outpatient building (MOB) market was vibrant during the third quarter of 2023. Direct vacancy rate was slightly lower from 12.5 percent in 3Q 2023 compared to 12.6 percent for 3Q 2022. Asking rates increased to $29.44/SF in 3Q 2023 compared to $27.89/SF in 3Q 2022. The team expects rental rates to continue rising due to shrinking supply and rising costs of construction.
Notable deals closed by the team in 2024:
♦️Sale of 6309 E. Baywood Ave., Mesa, Arizona, represented the buyer in a 30,117 SF ASC sale that totaled $15.4 million.
♦️Leasing activity on Banner Del Webb and Banner Boswell Campuses in the on-campus medical office buildings totaling 39,159 SF.
The team exclusively represent healthcare tenants, landlords, investors and developers nationally. It is a full-service team with a combined 75+ years of experience in tenant and landlord representation, investment sales and development in the healthcare sphere. Each team member has a specific role within their sector to cover all bases.
Dupuy, with more than 16 years of experience, focuses solely on investment sales. He established the team with Perry in 2008. Perry, also with more than 16 years of experience, represents national and local healthcare groups, focusing exclusively on tenant representation.
Gabuzzi focuses on landlord representation, tenant representation, and investment sales. He possesses 17 years of experience and joined the team in December 2021. Thompson concentrates on landlord representation with institutional and private ownership groups. She brings 21 years of experience and joined the team in 2015.
The team works with institutional and private capital ownership groups including Healthcare Realty Trust, Remedy, Anchor Health Properties, Cypress Office Properties, Ventas/Lillibridge, National Healthcare Properties, Global Medical REIT, Nationwide Realty Investors, Montecito Medical, Caddis, and Woodside Health among others. Additionally, the team works with numerous tenants in the Valley’s healthcare field.
“Each member of the team demonstrates a high level of synergy and teamwork, being able to seamlessly work together in their specific roles,” Gabuzzi said. “Our biggest strength is a strong sense of unity and shared purpose that sets us apart from our competitors and enables us to consistently maximize results and exceed client expectations.”
PHOTO CAPTION: The Kidder Mathews Healthcare Real Estate Services team comprises (left to right) Michael Dupuy, Rachael Thompson, Perry Gabuzzi, CCIM, and Fletcher Perry.