Colliers International sells Chandler Medical and Dental Center building to local investor

Medical building offers attractive opportunity for 1031 exchange

Phoenix, March 16, 2020 – Chandler Medical and Dental Center, Building B, was sold to a Tempe-based investor as part of a 1031 exchange transaction. The 84 percent leased medical building offers an attractive investment opportunity within a strong market area. The property is located at 655 S. Dobson Road, just south of Chandler Regional Medical Center, the area’s Level 1 trauma center hospital and medical campus.

The two-story building, which was constructed in 2001, offers a variety of medical and dental suites. It is part of a two-building medical complex. This transaction involved a 22,537-square-foot office building and a portion of the undivided 3.42-acre common area within the condominium-structured development.

Building B is leased by five tenants that include Dignity Health Medical Group family practice and a physical therapy practice that operates in partnership with Banner. It has one vacancy of 3,667 square feet.

“Greater Phoenix has become a hub for the healthcare industry,” says Mindy Korth, executive vice president of Colliers International in Arizona. “Since 2002, the number of healthcare jobs in the Valley has grown three times the pace of the national average. The East Valley will remain a dynamic focal point for medical services and this property should continue to be fruitful as an investment.”

Chandler Medical and Dental Center, LLC, purchased the medical building as part of a 1031 exchange transaction. A partnership formed by McDowell Enterprises of Scottsdale was the seller. Korth and Sean Westfall of Colliers in Arizona represented McDowell Enterprises in the sale. Korth and Westfall, assisted by Matt Roach and Chris Roach of Colliers, also represented the buyer.

About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers and LinkedIn.

Colliers International in Arizona has served clients locally and globally for more than 35 years.


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