Big Sky Medical Real Estate acquires Blackhawk Corporate Center, marking one of Phoenix Metro’s top medical and office property sales of 2023
PHOENIX, Ariz. – January 5, 2024 – ViaWest Group, represented by Cushman & Wakefield, has successfully sold Blackhawk Corporate Center, a three building, 252,350-square-foot office/medical campus in the Deer Valley submarket of Phoenix, Arizona. Big Sky Medical Real Estate acquired the property. Conveniently and strategically positioned at the intersection of two major freeways, Interstate 17 and Loop 101, Blackhawk Corporate Center was 96% leased at the time of sale to a variety of office and medical users. Steve Lindley, Alexandra Loye, Eric Wichterman, and Mike Coover with Cushman & Wakefield in Phoenix represented the seller in the transaction. According to Cushman & Wakefield tracking, the sale is one of the top medical and office property sales in 2023 based on total transactional value.
“This was a prime investment asset, supported by strong occupancy and credit tenancy. The property has displayed exceptional demand from medical tenants, with functional single-story construction and rising medical demand due to the rapidly growing population in the Northwest Valley—spurred in part by the new TSMC semiconductor plant under construction,” said Executive Managing Director Alexandra Loye. “The buyer will be in a position to take advantage of this demand, replacing office tenants with medical, to increase property income and value significantly.”
Todd Weiss, Chief Operating Officer, ViaWest Group, expressed, “We are excited to have completed the sale of Blackhawk Corporate Center, which has proven to be a highly desirable asset in the Phoenix market. The property's strategic location, strong occupancy, and diverse tenant mix make it an attractive investment opportunity. We are confident that Big Sky Medical Real Estate will benefit from the growing demand for medical space in the area and maximize the property's income and value."Built during 1997 and 1998, Blackhawk Corporate Center is located at 20401 N 29th Ave and 2902 & 3010 W Agua Fria Fwy. The property features immediate freeway visibility and accessibility from Interstate 17 and Loop 101, and a robust parking ratio of ±5.33/1000. The property is also close to the HonorHealth Deer Valley Medical Center, currently being redeveloped to facilitate a major expansion.ViaWest is currently active in Phoenix, San Diego, Salt Lake, Las Vegas, and Denver with a portfolio of owned and managed assets totalling over 13 million square feet.