Cushman & Wakefield brokers out-of-state private investment in Chandler
Staff Reports | Digital Free Press
Cushman & Wakefield brokered the sale of a two-tenant medical office buildings at 2394 N. Alma School Road in Chandler.
The property was acquired by an out-of-state private investor for $6.5 million. The seller was Drs. Nancy Kim & Rajan Bhatt, local physicians investor who had acquired the property a few years prior for their own use. Redeveloped in 2019, the medical building was constructed brand new from the ground up before the current leases were secured for the property.
Consisting of approximately 10,446 rentable square feet, the building is fully leased to a dermatology practice and surgery center, according to a press release.
The site was previously a retail pad that was originally built in 1991, Cushman & Wakefield officials say.
Cushman & Wakefield’s national Healthcare Capital Markets Team comprising of Travis Ives, Gino Lollio, and Sushil Puria represented the seller in the transaction working in collaboration with the firm’s local healthcare leasing experts Tom Weinhold and Sheila Bale. Ms. Weinhold and Ms. Bale were also involved with the leasing of the property securing a long-term lease prior to the sale with the surgery center, officials close to the matter say.
“Supported by two high-quality tenants, including a licensed ambulatory surgical center, this was a strong healthcare investment opportunity,” said Travis Ives, executive director, in a prepared statement. “Despite macro-economic headwinds, medical office investments continue to prove their resiliency holding their value and attracting new capital to the space.”
