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Medical asset in Phoenix sells for $20M

Optum Center now belongs to Ohio developer


PHOENIX — Cushman & Wakefield announced Monday the firm has brokered the sale of Optum Center, a five-story 81,907-square-foot Class A multi-tenant office and medical building in Phoenix.

Located at 20414 N. 27th Ave., the property also includes a five-and-a-half level parking garage on site. The building was 94% leased at sale, with UnitedHealthcare being a main tenant of the property.

Cleveland, Ohio-based Woodside Health Development acquired the asset for $20 million from Talia Jevan Properties, Inc. of Vancouver, BC.

Cushman & Wakefield’s Eric Wichterman, Mike Coover, Alexandra Loye and Steve Lindley represented the seller in the transaction.

“Optum Center is the highest quality office and medical property in Deer Valley and is located at the intersection of two major freeways,” said Eric Wichterman, vice chairman.

“The Deer Valley trade area contains one of the most significant and prosperous employment centers and commercial markets in Arizona and it is poised to grow significantly more with the addition of the new Taiwan Semiconductor Manufacturing Plant to the north. Office and medical office space within the immediate trade area enjoys single-digit vacancy rates.”

Built in 2008, Optum Center is a property with a two-story lobby and institutional quality architecture featuring a glass curtain wall, ribbon windows and EFIS exterior.

The property is located at the intersection of Interstate 17 and the Loop 101 and positioned amidst retail amenities within a one-mile radius, many within walkable distance.