Woodside Health Buys Phoenix MOB

Optum Center. Image courtesy of Cushman & Wakefield

Woodside Health Development has acquired Optum Center, an 81,907-square-foot medical office building in Phoenix for $20 million. Cushman & Wakefield represented the seller, Talia Jevan Properties Inc., in the transaction.

Completed in 2008, the property spans 2 acres and comprises a five-story building with 18,000-square-foot floorplates and a two-story lobby with extensive glass curtain wall, ribbon windows and EFIS exterior. The building also includes a five-and-a-half-level parking garage with 425 parking spaces.

Optum Center was 94 percent leased at the time of the transaction with UnitedHealthcare as the main tenant. SimonMed and Sonora Quest Laboratories are also leasing space in the building, according to CommercialEdge.

Located at 20414 N. 27th Ave., the medical office is less than half a mile from Arizona State Route 101 and within a mile of Interstate 17. Numerous retail areas, including Deer Valley Towne Center and Target, are within walking distance of the property. HonorHealth Deer Valley Medical Center is within half a mile of the building, as well.

The Cushman & Wakefield team that represented Talia Jevan Properties was led by Executive Managing Directors Eric Wichterman and Alexandra Loye, Managing Director Mike Coover and Executive Director Steve Lindley.

Woodside Health Development’s portfolio currently includes 43 properties across seven markets. Last year, the company paid $18.2 million for Arrowhead Executive Center, a 98,958-square-foot both professional and medical office building in Glendale, Ariz.