Cassidy Turley completed the sale of Camelback Medical Plaza, a 45,936 SF, Class B office medical building at 5040 N. 15th Ave. in Phoenix.
CHP Camelback Medical LLC, a company formed by Centrum Health Properties (Englewood, Calif.), purchased the property for $2.825M ($61.50 PSF) from RJ Camelback Medical Plaza Investors LLC (Carlsbad, Calif.)
Cassidy Turley Arizona’s Executive Vice President Eric Wichterman and Vice President Mike Coover negotiated the sale transaction along with Kathleen Morgan and Julie Johnson of GPE Companies.
Centrum Health Properties (CHP) is a full service healthcare real estate firm with expertise in finance, acquisition, brokerage, leasing, management, repositioning, development and construction of medical office, ambulatory care centers, imaging, long-term acute care and acute care facilities.
Built in 1981, Camelback Medical Plaza is in close proximity to three large, successful hospitals; St. Joseph’s Medical Center, Banner Good Samaritan and Phoenix Baptist Hospital. The four-story multi-tenant property was 54% leased at the time of sale.