Staff Reports | Business & Construction
Cushman & Wakefield has arranged the $48 million sale of Stapley Medical Center, a two-building, 181,710-square-foot medical office campus in Mesa.
The property, found at 1840 and 1910 S. Stapley Drive, sits within Mesa’s healthcare corridor along U.S. 60 between two major hospital campuses, according to a press release.
Travis Ives, Gino Lollio and Tyler Morss of Cushman & Wakefield’s Healthcare Capital Markets team collaborated with Chris Toci and Eric Wichterman of the firm’s Phoenix office to represent the seller, a joint venture between Harbert Management Corp. and Cypress Office Properties LLC. Chicago-based RX Health & Science Trust acquired the property.
Harbert and Cypress purchased Stapley Medical Center in June 2021 for $37 million. Cushman & Wakefield also advised the seller in that transaction. During their ownership, Harbert and Cypress completed more than 60,000 square feet of new medical leasing, helping position the property for sale.
“The transaction reflects sustained investor demand for value-add medical office assets in high-growth Sun Belt markets,” Travis Ives, managing director with Cushman & Wakefield’s Healthcare Capital Markets team, said. “With strong leasing momentum and a clear path to stabilization, Stapley Medical Center presented a compelling value-add opportunity for RXHST to continue to expand their outpatient portfolio in a market they know well.”
The campus is anchored by healthcare providers including HonorHealth, Abrazo Healthcare and Prosano, a Blue Cross Blue Shield company, and serves a range of medical specialties.
Found along Stapley Drive just south of U.S. 60, the property offers visibility and access to major transportation routes and is near the Gilbert border. The campus is also in close proximity to major hospital facilities and serves one of the region’s growing healthcare markets.
