Phoenix, Ariz. (July 23, 2018) – Desert Sun Medical Center, a ±15,038 square foot medical facility located at 7140 E. Rosewood Street in Tucson, Arizona, has sold for $4,400,000. The buyer, Cypress West Realty Partners, LLC, an investor, developer and manager of healthcare properties, was represented in the transaction by Kidder Mathews commercial real estate brokers, Fletcher Perry and Darren Tappen.
The transaction took place within 90 days in an off-market deal. There were a number of high-profile tenants pursuing the asset as it provided an opportunity to capitalize on the competitive ambulatory surgical space.
The sale demonstrates the increasing need for outpatient medical space. These facilities are in high demand and allow healthcare providers to deliver quality care to patients outside the hospital and at a lower cost.
“This is another example of the exceptional market knowledge of our team. With strong client relationships and knowledge of the healthcare industry trends, we identified an off-market opportunity that fit the criteria of the investor and multiple healthcare users,” said Fletcher, a senior vice president with Kidder Mathews. “We are excited to provide our client with this unique opportunity and assist them with the successful acquisition,” he said.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with over 700 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $7 billion in transactions, manages over 51 million square feet of space, and conducts over 1,500 appraisals annually. For more information, visit kiddermathews.com.