PHOENX—Newmark Grubb Knight Frank's Phoenix office, in collaboration with Global Healthcare Services, announced the completion of a $141 million sale of the Integrated Medical Services portfolio encompassing four class A medical office buildings totaling 406,894 square feet. This portfolio sale sets a new record for the Phoenix Metro area as the highest price paid at $347 per square foot for an on-campus, multi-tenant medical office portfolio.

NGKF Global Healthcare Services executive managing directors Garth Hogan and Todd Perman, along with directors Trisha Talbot and Kathleen Morgan in the Phoenix office, represented the sellers. The buyer, Physicians Realty Trust, a self-managed healthcare real estate company, was self-represented.

Hogan tells GlobeSt.com, “This is the most sought after portfolio we've seen, It commanded such a high price because of the quality of the buildings and its ownership by physician-led organizations. It's rare to have such a collection of trophy assets built by doctors who are immersed in the healthcare community. As experts in the field, they have exceptional insight into the location and development of these assets.”