An 11 building medical office campus, Arrowhead Creekside, sold for $11.15 million in Glendale at 7200 W. Bell Rd., according to Cushman & Wakefield on behalf of owner Washington D.C. based Starwood.
Arrowhead Creekside is an 69,858 square-foot, medical office campus located in the prestigious Arrowhead Ranch area of Glendale. The project was 97 percent occupied at the time of sale.
Cushman & Wakefield Executive Managing Director Eric Wichterman and Senior Vice President Mike Coover successfully negotiated the sale along with Kathleen Morgan of Newmark Grubb Knight Frank, who represented the buyer, Cresendo Development of Cleveland.
The complex was constructed in phases with the first buildings completed in 1998 and the most recent in 2006. Located along Bell Road, the property sits a half-mile from Arrowhead Towne Center and just over one mile from the Loop 101 Freeway.
“Arrowhead Creekside sits in a highly active and synergistic medical office market populated with substantial hospitals, senior care/skilled nursing facilities and upscale retail amenities,” Wichterman said. “This collection of amenities, coupled with superb freeway access, gives Arrowhead Creekside a strategic and desirable location with respect to healthcare.”
