Sun City, Arizona — The ICRE Investment Team at ORION Investment Real Estate is pleased to announce the successful acquisition of a two-tenant medical office building located at 13650 N 99th Avenue in Sun City, Arizona. The property sold for $5,000,000 at an 8.25% cap rate.
Michael Douglas, CCIM, Senior Vice President with ORION Investment Real Estate and leader of the ICRE Investment Team, represented the buyer, California Sports & Spine Center, in the transaction.
The ±15,216 square foot medical office building, constructed in 2014 and situated on approximately 1.78 acres, is located near Banner Boswell Medical Center and major transportation corridors including US-60 and Loop 101, placing it within one of the Northwest Valley’s established healthcare corridors.
The property is fully leased to established medical tenants, providing stabilized income and long-term investment security in a submarket experiencing continued population and healthcare service growth.
“Healthcare real estate continues to be one of the most resilient sectors in commercial real estate,” said Michael Douglas, CCIM of the ICRE Investment Team. “Our focus throughout the process was leading a detailed due diligence effort on behalf of our client — reviewing lease structures, financial performance, operating expenses, and property condition reports — to ensure the acquisition aligned with their long-term investment strategy. By managing that process closely, we were able to help California Sports & Spine Center move forward with confidence and achieve a smooth closing.”
The acquisition reflects the ongoing demand for stabilized medical office assets in the Phoenix metropolitan area, driven by strong demographics and expanding healthcare services across the region.
About ICRE Investment Team
The ICRE Investment Team, led by Michael Douglas, CCIM, is part of ORION Investment Real Estate and specializes in healthcare and commercial investment properties throughout Arizona. The team provides advisory services including acquisition strategy, site selection, investment underwriting, and transaction management for investors and healthcare operators.
Learn more at:
https://investingincre.com
