Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced that a net-lease investment team led by executive directors Jamie Medress and Mark Ruble closed six net-leased medical office assets in Arizona between January 25 and April 30 this year. The total value of the sales is $27,115,000.
“Single-tenant medical buildings with strong tenants on long-term leases rarely come up for sale,” says Ruble. “To close six assets like this in such a short timeframe—five in April alone—is a testament to the strength of our inventory and the expertise of our advisory team.”
“Net-leased medical offices are extremely attractive investments as medical professionals tend to invest heavily in their work spaces and commit to their locations,” adds Medress.
The properties are:
• NextCare Urgent Care, 4,520 square feet, Goodyear
• Northwest Healthcare @ Riverside Plaza, 6,850 square feet, Tucson
• HonorHealth, 24,363 square feet, Peoria
• Northwest Emergency Center, ground lease, 11,500 square feet, Marana
• HonorHealth, 6,732 square feet, Phoenix
• Northwest Emergency Center, 11,500 square feet, Tucson
“Marcus & Millichap’s culture of information sharing, combined with Mark and Jamie’s leadership, provided the best possible platform for our clients to achieve their investment goals,” comments Ryan Sarbinoff, vice president and regional manager of Marcus & Millichap’s Phoenix office. “Collaboration among our investment sales agents and a capital markets advisor from Marcus & Millichap Capital Corp. (MMCC) was instrumental in ensuring the success of the transactions.”
Farhan Kabani, a senior vice president capital markets with MMCC, arranged acquisition financing for the sale of HonorHealth in Phoenix. Todd Blonsley provided additional representation in the Northwest Healthcare @ Riverside Plaza transaction, Brian Parmacek assisted in the sale of Northwest Emergency Center, Marana and John Susank provided representation in the Northwest Emergency Center sale. Sarbinoff is the firm’s broker of record in Arizona.
