Woodside Health has recently acquired Paradise Valley Plaza, a three-building office and medical complex in Scottsdale, Arizona. The property spans over 100,000 square feet and was purchased for $20.9 million from Cloud Peak Development. This acquisition marks Woodside Health’s 14th property in the Phoenix metropolitan area.
According to Commercial Edge reports, Paradise Valley Plaza was previously sold in September of 2020 by Fenway Capital Advisors to Cloud Peak for $16.7 million at a rate of approximately $172 per square foot.
The Class B campus is located at 5010,5020 and 5040 E Shea Blvd and was built in two phases – one phase completed in1985 and the other phase completedin2000.Theproperty underwent cosmetic renovationsin2014and offers amenities such as interior courtyards,outdoor courtyards,and exterior loading suites.There are also about388parking spaces available on site.Atthe timeofsale,the propertywas95percentleasedwithtenants including HonorHealth,NexLevelPhysicalTherapy,and FormaPlasticSurgery.
Cushman & Wakefield’s Eric Wichterman,CrisToci,and Mike Coover represented the seller during this transaction.Woodside Health continues to expand its presence withinthe healthcare market withthis recent acquisition.
