JLL Capital Markets announced today that it closed the $29 million sale of Banner Health Center – Peoria, a fully leased, 68,000-square-foot medical building in Peoria, Arizona.

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JLL represented the seller, Banner Health, and procured the buyer, Montecito Medical Real Estate.

The Banner Health Center is a three-story medical office building situated on 5.68 acres. The property features a multi-specialty ambulatory surgery center with three operating rooms, advanced imaging and primary and specialty care. It is leased on a single tenant basis to Banner Health.

Located at 13640 N Plaza Del Rio Boulevard, the Banner Health Center is a key outpatient location for Banner Health, serving its patients in the northwest Phoenix metro area.  It is less than two miles from the 410-bed Banner Boswell Medical Center.

The JLL Healthcare Capital Markets Advisory team consisted of Senior Managing Director Mindy Berman, Director Matt Dicesare and Managing Director John Chun along with Phoenix market leader, Executive Managing Director Pat Williams.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.