UDLR Health recently acquired the Thunderbird Medical Pavilion in Glendale, Arizona for $13.5 million with the assistance of a $10.1 million acquisition loan. JLL Capital acted as representative for both buyer and seller and secured financing for the transaction.
Located at 5757 Thunderbird Rd., this 92,811 square foot property is home to various clinical users such as imaging specialists, cardiovascular surgeons, general surgeons, ear nose and throat physicians, and obstetrics/gynecology practitioners. With a lease term of 7.3 years remaining on its current tenants’ agreements,the building is currently leased at 50 percent capacity.
The medical pavilion is situated on the campus of Banner Thunderbird Medical Center which boasts a total of 595 beds.The only privately-owned medical office building on this campus,it houses Banner Health -the largest tenant- along with other prominent local physician groups.Its strategic location allows it to serve as an essential healthcare provider within a ten-mile radius in Phoenix area where it remains one among Banner’s most profitable hospitals.
