Colliers completes Thunderbird Wellness Centre sale
Colliers International in Greater Phoenix recently completed the sale of the Class A, 56,413-square-foot Thunderbird Wellness Centre in Peoria, Arizona. The institutional-quality medical and wellness complex was 88-percent occupied at the time of the sale.
MedProperties in Northbrook, Illinois purchased the center, located at 6750-6790 W. Thunderbird Rd., from Second City Real Estate in Vancouver, BC, Canada.
Mindy Korth, executive vice president, Bob Broyles, senior vice president, and Kirk Kuller, vice president, with Colliers International, exclusively represented the sale.
Thunderbird Wellness Centre consists of four single-story buildings and two fully-improved vacant parcels within a ± 9.01 acre site. The vacant parcels can provide an additional ±34,066 square feet of medical or retail space.
Built in 2006 and 2007, the buildings have a modern, tech-savvy design, the exterior accented with stone veneer, exposed beams and metallic elements. Improvements include an ambulatory surgery center, two multi-tenant medical buildings and a multi-tenant wellness-oriented building.
“This property offered the buyer a medical office property with a solid tenant mix, and growing cash flow,” said Korth, adding “With strengthening market conditions, MedProperties has a good upside through leasing the remaining space along with the future development on the vacant pads.”
Located within an affluent Northwest Valley neighborhood, Thunderbird Wellness Centre is near three major hospitals: Banner Thunderbird, Arrowhead Hospital and Banner Boswell.