PHOENIX, Ariz. – The Phoenix Kidder Mathews healthcare team represented the landlord in a long-term lease totaling $1.6 million at Mescal Medical Park, 10900 N. Scottsdale Rd., in Scottsdale, Arizona.
The team of Senior Vice President Michael Dupuy and Vice President Rachael Thompson negotiated the long-term lease on behalf of Cypress West Partners, a Southern California-based healthcare investment, leasing, and property management firm.
Kidder Mathews negotiated a 7-year lease for 8,234-square-feet worth $1.6 million for Oliver Street Dermatology Management.
“It has been exciting to see the property become so active this quarter; this lease is reflective of other recent activity we have seen in the area,” Thompson said. “Central Scottsdale is a market in high demand with its strategic location. It is attracting tenants and patients from Paradise Valley and North and South Scottsdale with its convenient access on Scottsdale Road and the Loop 101.”
Built in 1982, Mescal Medical Park is a garden style medical property in the heart of Scottsdale. Just minutes from HonorHealth Shea Medical Center’s campus and the 101, it offers an onsite pharmacy.
“With this lease, which included relocating and expanding an existing tenant to a larger suite, the property is well positioned,” Dupuy said.
Cypress West Partners owns property in Arizona, California, Nevada, and Oregon. Its Arizona portfolio includes more than 400,000 SF of medical office space in 10 buildings.
“The Kidder Mathews team was an integral of the property’s stabilization through its efforts and focus on tenant needs in conjunction with landlord objectives,” said Cypress West Partners Director of Brokerage Services Bryan McKenney.
Oliver Street Dermatology Management was represented by Aaron Kuhl with MOB.