Is a medical office building a good investment?

For many investors, yes. Healthcare tenants tend to stay put because moving a practice means moving patients, equipment, and referral relationships, which keeps occupancy steadier than traditional office. Michael Dupuy works with buyers across Arizona to sort out which buildings have the tenant strength and lease term to hold their value.

What are medical office cap rates in Phoenix?

It depends on the building. A newer property leased long-term to a hospital system will trade at a much lower cap rate than an older multi-tenant building with short leases. Michael Dupuy tracks medical office sales across Greater Phoenix and can give owners a realistic range for their specific property.

How long does it take to sell a medical office building?

Most medical office sales close in about four to six months. Pricing, the number of tenants, buyer financing, and due diligence findings can all move that timeline in either direction. For owners planning around a retirement date or a practice sale, Michael Dupuy maps out the schedule before the property goes to market.

When is the right time to sell my medical office building?

Usually earlier than owners expect. Buyers pay for lease term, so a building with a long lease in place is typically worth more than the same building two years before that lease runs out. Michael Dupuy helps owners compare selling now against holding, based on market conditions and their own plans.

What happens to my building if I sell my medical practice?

In many practice sales to a hospital, private equity group, or larger practice, the buyer leases the building rather than buying it, and the physician-owner becomes a landlord. Michael Dupuy walks physician-owners through their options: keep the real estate, sell it outright, or structure a sale-leaseback alongside the practice transaction.

What happens to a physician-owned building when a partner retires?

Usually one of two things: the remaining partners buy out the retiring partner’s share, or the group sells the building. Either way, it starts with an accurate value. Michael Dupuy works with physician groups across Greater Phoenix to price their real estate and weigh both paths.

Is on-campus or off-campus medical office a better investment?

Each has its advantages. On-campus buildings at Banner Health, HonorHealth, or Dignity Health hospitals benefit from referral traffic and physician demand, while off-campus buildings in growing neighborhoods often win on patient access, visibility, and parking. Michael Dupuy helps investors compare the two based on tenant mix, lease terms, and demand in each submarket.

Why work with Michael Dupuy for healthcare real estate in Phoenix?

Michael Dupuy started his career at The Plaza Companies and has worked in healthcare real estate ever since. He and his team have represented clients including HonorHealth, Welltower, Healthcare Realty Trust, and Phoenix Heart.

How do I contact Michael Dupuy?

You can reach Michael Dupuy at 602.513.5123, by email at michael.dupuy@kidder.com, or on LinkedIn.