X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The Phoenix medical office market has been a bright spot through the pandemic. The market has been one of the most active and sought-after in the country, and the momentum hasn’t slowed in the last year. In one of the most recent transactions, Cushman & Wakefield brokered the sale of a freestanding class-A medical office building in Chandler for $6.5 million. The property is an example of the market activity.

“Phoenix has long been viewed as a strong medical office market due to its consistent population growth which fuels medical office demand; however, the COVID-19 pandemic has offered a unique glimpse into the resiliency of medical office tenants,” Sheila Bale, a managing director at Cushman & Wakefield, tells GlobeSt.com. “Despite several weeks of forced closures to clinics, ambulatory surgery centers, imaging centers and other outpatient treatment facilities early on in the pandemic between mid March through early May 2020, and despite the fear many patients had of simply going outside of their own homes during that delicate time, medical office landlords in Phoenix still collected nearly 100% of the rent owed by tenants and buildings remained full.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.