JLL Capital Markets announced today that it has completed the $30 million sale of Chandler Medical Pavilion, a fully leased outpatient medical building totaling 65,931 square feet, located in Chandler, Arizona.
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JLL’s Medical Properties Capital Markets team represented the seller, a partnership between Unbound Development and Webb Investments, and procured the buyer, Montecito Medical Real Estate.
Chandler Medical Pavilion was completed in 2021 as a build-to-suit for the property’s sole tenant, Banner Health, the largest integrated health system in Phoenix and Arizona. The highly specialized outpatient center offers an ambulatory surgery center with three operating rooms, an advanced imaging center, an accredited cardiology department and a Banner Health Clinic offering gastroenterology, endocrinology and orthopedics.
Located at 1125 S. Alma School Rd., Chandler Medical Pavilion was purpose-built for Banner Health located adjacent to the recently built Banner Ocotillo Medical Center benefiting from excellent accessibility and visibility from Loop 202. Chandler is one of the fastest growing areas in the Phoenix metro, experiencing annual population growth of 2.7 percent on average since 2010.
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.
