Menlo Group Negotiates Sale of Gilbert Medical Center for $5.35M

Menlo Group Commercial Real Estate represented both the seller and buyer of 201 W. Guadalupe Rd. in Gilbert, Ariz.

Tempe, AZ, January 19, 2022–Menlo Group Commercial Real Estate is pleased to announce the successful sale of Gilbert Medical Center. The fully leased, multi-tenant medical office property sold for $5.35 million.

Gilbert Medical Center is located at 201 W. Guadalupe Rd. in Gilbert, Ariz. The center is composed of two buildings, totalling 35,142 sq. ft on a 3.49 acre lot.

Menlo Group has represented the property and its various owners for many years. In 2016, the brokerage first sold the building to Gilbert AZ Properties, LLC. Menlo Group’s medical office team, led by Steve Berghoff, CCIM, SIOR, and Grafton Milne, CCIM, SIOR, leased the space on behalf of the owners and brought it to 100 percent occupancy.

In 2021, the owners decided to put the fully leased property up for sale, and the Menlo Group team quickly found a buyer. The space was purchased by 4901 W Bell Properties, LLC. 

“Gilbert AZ Properties, LLC, wanted to thank and express appreciation to the Menlo Group team members for their services and all their hard work towards the transaction closure,” said a representative for the sellers.

Rich Andrus, MBA, CCIM, SIOR, of Menlo Group represented the buyers, and he will continue to work with them to maintain full occupancy of the property.

“Our team has enjoyed representing this great property over the years, and we’re excited to see it sell,” Milne said. “Gilbert Medical Center is a beautiful space, and with 100 percent occupancy, the buildings made for an attractive addition to the new owners’ portfolio.”

About Menlo Group

Menlo Group is a full-service commercial real estate brokerage headquartered in Tempe, Ariz. We specialize in buyer/tenant representation, seller/landlord representation, investment services, real estate consulting, property management and project management. We exist to support clients, advisors and employees in their professional objectives through effective real estate strategies. Please contact our landlord/seller team to discuss listing your commercial property.