ORION Closes Scottsdale Medical Group Lease

Braxton Glass

Braxton Glass

ORION Investment Real Estate recently closed the fee simple interest in one parcel of net leased medical ground in north Scottsdale, Arizona, located within walking distance of Scottsdale’s largest hospital campus.

Scottsdale Healthcare Shea is a 433-bed, full-service hospital providing emergency, medical/surgical, critical care, obstetric, pediatric, cardiovascular, orthopedic and oncology services. All patient rooms are private. Also, on the campus is The Virginia G. Piper Cancer Center and T-Gen at Scottsdale Healthcare, known throughout the southwest for their commitment to providing personalized care and their innovative combinations of community oncology services, academic medicine and genomic research.

The seller, Shea Edward Limited Partnership, sold the 2.17 acres located at 8960 E. Desert Cove Ave. in Scottsdale, on which is located a Surgicenter with 21,674 square feet of ancillary medical offices for $2,100,000 to CMMD 1031, LP and MDCM 1031, LP.  Braxton Glass, Vice President at ORION, represented the Buyer and the Seller in this transaction.

“The unsubordinated structure of the ground lease combined with the exceptional locational characteristics of the parcel create an extremely attractive risk/return profile that is rarely encountered in commercial real estate offerings,” stated Braxton Glass.

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About Amanda Ventura

Amanda Ventura is an editor, award-winning writer and pop culture enthusiast. When she's not up against deadlines, she is exploring Arizona, trying recipes that require every dish in her kitchen be used, collecting 5K swag bags and race numbers and volunteering at a local animal shelter. Her bookshelf is full of autobiographies and her desk is covered in Sticky Notes. She dislikes the Oxford comma and still cannot believe she gets to meet and write about interesting people for a living.