JLL sells two buildings for Southwest Kidney Institute
Canvass Capital purchases high-demand medical office space for $11.17M
PHOENIX, August 26, 2019 – The Phoenix office of JLL has completed the sale of two medical office buildings owned by SKI Properties. Together, the buildings total 31,425 square feet and are 100 percent leased by Southwest Kidney Institute (SKI) and a partnership between SKI and DaVita dialysis services (NYSE:DVA).
The two-building sale achieved a cumulative price of $11.17 million. JLL Executive Vice President Brian Ackerman facilitated the transaction as an off-market, sale leaseback on behalf of SKI Properties. The buyer is Canvass Capital, representing a large family office.
The buildings are located at 8410 W. Thomas Rd. in Phoenix and 2149 E. Warner Rd. in Tempe and total 21,483 and 9,942 square feet, respectively.
“Both of these buildings reflect key attributes that investors look for in medical office space,” said Ackerman. “That includes strategic locations next to a major hospital and credit tenants who are likely to remain in place because of area demographics and high-end build-outs.”
The Thomas Road building sits near the intersection of 83rd Avenue and is minutes from Banner Estrella Medical Center. The Warner Road building is near the Loop 101 freeway, Chandler Regional Medical Center, Banner Gateway Medical Center and Chandler Fashion Center. It also sits just south of ASU Research Park.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com