Staff Reports | Business & Construction
Cushman & Wakefield announced it has arranged the $48 million sale of Stapley Medical Center, a two-building, 181,710-square-foot medical office campus in Mesa, Arizona.
The property, located at 1840 and 1910 S. Stapley Drive, sits within a healthcare corridor along U.S. 60 (Superstition Freeway) between two 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. The property was acquired by Chicago-based RX Health & Science Trust.
Harbert and Cypress acquired Stapley Medical Center in June 2021 for $37 million, with Cushman & Wakefield advising on that transaction. During the ownership period, the partnership completed more than 60,000 square feet of new medical tenant leasing.
“The transaction reflects sustained investor demand for value-add medical office assets in high-growth Sun Belt markets,” Mr. Ives 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.”
Anchored by providers including HonorHealth, Abrazo Healthcare and Prosano (BlueCross BlueShield), the campus serves a mix of medical specialties. Located just off U.S. 60 along Stapley Drive, the property is positioned near the “Gateway to Gilbert,” a neighboring suburb south of Mesa.
