Buyer 5750 N. Thunderbird LLC had a contract on the bulk of the eight-building complex at Thunderbird Palms Medical Plaza before they went on the market, Kim Soule of Colliers International's Phoenix office, tells GlobeSt.com. "It's a beautiful property," she said, "but it was the long-term leases that really made it attractive."
The five buildings, totaling 47,298 sf, is located at 5750 W. Thunderbird Rd., just north of the Thunderbird Samaritan Medical Center. The complex was 92% occupied at the time of sale, with leases extending to 10 years, Soule said.
The property was the second purchased by the Phoenix investment group within the last year. The investors also recently purchased a 44,144-sf back office building at 15458 N. 28th Ave. in Phoenix.
Soule, along with George Long and Tom Knaub, also with Colliers International, negotiated the deal on the buyer's behalf. The developer and seller of the property, Thunderbird Palms LLC, a legal entity formed by the Bade Cos., was represented by Roy Bade. Ron Roeske and John Dahlin of Colliers International will manage the property for the new buyer.
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