Plaza Companies sells north Phoenix medical office

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Plaza Companies has sold a north Phoenix medical office property and will continue to provide the new ownership with property management services.

The North Valley Medical Office Plaza at 15648 N. 35th Ave. in Phoenix houses Touchstone Health Services was officially sold on April 28 in a $2.85 million transaction, according to a press release.

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 Plaza Companies President Larry Pinalto managed on the seller side, in partnership with Plaza’s Peggy Maxwell, Senior Vice President-Property and Facilities Management.

Additionally, 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,” Sharon Harper, chairman and CEO of Plaza Companies, said in a prepared statement.

“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 has about 12 million square feet in its property ownership, leasing and management portfolio, including numerous projects such as SkySong, The ASU Scottsdale Innovation Center; Park Central; and the TGen Building.

Peoria-based Plaza Companies works on 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 Valley.

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