Building at Arrowhead Professional Medical Plaza in Glendale Sold for $2.15 Million

A 5,022 sq. ft. medical office building has been sold in Glendale, AZ.

Tempe, AZ, November 11, 2024–Menlo Group Commercial Real Estate is pleased to announce the sale of a 5,022 sq. ft. single-story, freestanding medical office building in Glendale, Ariz. Located at 16222 N. 59th Ave., the property is part of a four-building medical office complex and was sold for $2.15 million.

This sale marks a significant transaction in the Glendale medical office submarket. Located near major hospitals and highways, the complex offers the largest available block of medical space in the area and is well-positioned for a variety of medical users.

“This property’s strategic location and the growing demand for medical space in the West Valley made it a highly attractive investment opportunity,” said Steve Berghoff, SIOR, CCIM, of Menlo Group. “We’re thrilled to have helped facilitate this sale and secure a fantastic price of $428 per square foot.”

Berghoff and Stuart Milne, SIOR, CCIM, of Menlo Group represented the seller, Boa Sorte Limited Partnership and Arrowhead 59 LLC, in the transaction. The buyer was Sun Radiology, a prominent provider in the region.

Earlier this year, Menlo Group assisted the current owners in acquiring the Arrowhead Professional Medical Plaza as an investment opportunity. The commercial real estate firm plans to help sell the remaining three medical office buildings.

“It has been a pleasure working with the property owners and securing the best outcome for their investment,” Milne said. “The buyer is well-positioned to serve the healthcare needs of the community.”

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. Visit menlocre.com to learn more.