Plaza Companies has sold a prominent north Phoenix medical office property despite the economic downturn and will continue to provide the new ownership with property management services.
The North Valley Medical Office Plaza located at 15648 N. 35th Avenue in Phoenix is occupied by Touchstone Health Services and was officially sold on April 28 in a $2,850,000 transaction. The selling entity, North Valley Medical Office Plaza LLC, is part of the Plaza family of companies. The buyer was Long Beach Trading Company LLC.
Eric Wichterman of Cushman and Wakefield represented the Seller in the transaction, which was managed by Plaza Companies President Larry Pinalto on the seller side, in partnership with Plaza’s Peggy Maxwell, Senior Vice President-Property and Facilities Management.
Additionally, because of its extensive expertise and connectivity when it comes to property management in the Valley, Plaza Companies will continue to provide property and facilities management services for the new owner.
“Plaza Companies continues to be active in evaluating new acquisitions, sale opportunities and development projects in the medical and commercial sectors,” said Sharon Harper, Chairman & CEO of Plaza Companies. “We believe the fundamentals of the market are still strong and are optimistic about Arizona’s recovery from the current economic conditions, and we are pleased to be able to continue to be involved in exceptional real estate transactions.”
Plaza Companies currently has about 12 million square feet in its property ownership, leasing and management portfolio, including numerous high-profile projects including SkySong, The ASU Scottsdale Innovation Center, Park Central, and the TGen Building, among others.
Plaza Companies, based in Peoria, Arizona, is an esteemed leader in the development and management of medical office and commercial office properties, technology and bioscience facilities, mixed-use properties and senior housing communities. Since its founding in 1982, this full-service, specialized real estate firm has established a proud portfolio stretching across the greater Phoenix area. For more information about Plaza Companies, visit ThePlazaCo.com.