RX Health & Science Trust has acquired Stapley Medical Center, a two-building medical office campus in Mesa, Arizona, in a transaction arranged by Cushman & Wakefield. The property traded for $48 million and totals 181,710 square feet of medical office space across addresses at 1840 and 1910 S. Stapley Drive.
Cushman & Wakefield’s Healthcare Capital Markets Team, led by Travis Ives, Gino Lollio and Tyler Morss, worked in coordination with Chris Toci and Eric Wichterman from the firm’s Phoenix office to represent the seller. The seller was a joint venture partnership between Harbert Management Corporation and Cypress Office Properties.
Harbert and Cypress originally purchased Stapley Medical Center in June 2021 for $37 million, with Cushman & Wakefield also advising on that earlier transaction. During their hold period, the joint venture executed a leasing strategy that resulted in more than 60,000 square feet of new medical tenant commitments at the campus.
The additional leasing activity helped stabilize and position the property for disposition, culminating in the recent $48 million sale. The successful execution from acquisition through lease-up and sale underscores the role of targeted medical office leasing in supporting valuation for healthcare-focused assets.
Stapley Medical Center is anchored by a roster of healthcare providers that includes HonorHealth, Abrazo Healthcare and Prosano, which is affiliated with BlueCross BlueShield. The presence of these anchors supports the property’s positioning as a regional medical destination within Mesa.
The transaction highlights the continued appeal of purpose-built medical office campuses to healthcare-focused real estate investors, with brokerage teams leveraging prior transaction knowledge of the asset to guide both the initial acquisition and the subsequent disposition.
