Sale of MOB in Phoenix Submarket

 

PHOENIX — Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the $12,182,064 sale of 22363 E Domingo Rd, Queen Creek, AZ, a new-build medical office building (MOB). Matthews™ Healthcare Division represented the seller in the transaction, achieving a 6.05% cap rate.

 

The new property will be finished in 2024, featuring 20,692 square feet. The multi-tenant MOB will offer dental, dermatology, and autism therapy services.

 

“This investment offered the buyer a fantastic asset in a thriving submarket,” Matthews™ Healthcare Division said. “Queen Creek is the seventh fastest-growing large city in the country, driving its need for top-tier medical facilities like Domingo Rd.”

 

Matthews™ sourced the buyer who was looking to reallocate capital. The buyer plans to hold the asset long-term and increase cash flow.

 

“We secured a buyer and closed prior to full rent commencement and delivery, achieving both parties’ goals,” Matthews™ Healthcare Division said.

 

For more information or to contact a Matthews™ specialized agent, please visit www.matthews.com.

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 600 agents and support staff in 20+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.