Large Sky Medical has entered the Phoenix market with the acquisition of the 252,000-square-foot Blackhawk Medical Middle. ViaWest Group offered the three-building medical and workplace campus for $46 million, in accordance with Maricopa County data; Taconic Capital supplied a $39.9 million acquisition mortgage. Cushman & Wakefield represented the vendor.
Blackhawk Medical Middle beforehand modified arms in 2018, when ViaWest bought it from Cohen Asset Administration for $33.8 million, CommercialEdge knowledge exhibits. The deal concerned a $32.1 million acquisition mortgage originated by Annaly Capital Administration.
Accomplished between 1997 and 1998, the campus includes Blackhawk Middle I, a 138,450-square-foot, Class B workplace constructing, alongside Blackhawk Middle II and III, which complete 113,810 sq. ft and embody medical workplace area. The campus has floorplates starting from 29,400 to 84,410 sq. ft, on-site convention rooms, managed entry and a complete of 1,414 automobile parking areas.
Located on 24 acres at 20401 N. twenty ninth Ave. and 2902 W. Agua Fria Freeway, the campus is within the Deer Valley submarket, close to the intersection of Arizona State Route 101 and Interstate 17, some 18 miles north of downtown Phoenix. Different medical facilities within the surrounding space embody Deer Valley Medical Tower, HonorHealth Outpatient Surgical procedure and HonorHealth Sonoran Crossing Medical Middle.
Cushman & Wakefield Government Director Steve Lindley, Government Managing Director Alexandra Loye, Vice Chairman Eric Wichterman and Managing Director Mike Coover brokered the sale on behalf of ViaWest.
The Phoenix market recorded $937 million in workplace transactions as of November, a latest CommercialEdge report exhibits, with properties promoting at a median of $190 per sq. foot. A complete of 52 medical workplace buildings, encompassing 1.1 million sq. ft, modified arms within the metro all year long.
Large Sky’s latest exercise
Final month, Large Sky Medical obtained the approval from the Dallas Metropolis Council for the rezoning of the 145,000-square-foot Pyramids South Tower, which may now embody medical tenants. The property is lower than 10 miles from downtown Dallas.
The corporate additionally acquired Richardson Medical Middle I, a 118,472-square-foot medical workplace constructing in Richardson, Texas. The property was transformed from an workplace constructing right into a health-care facility previous to the sale.
