ORION Closes Scottsdale Medical Ground Lease

ORION Investment Real Estate closes the fee simple interest in one parcel of net leased medical ground in North Scottsdale, Arizona, located within walking distance of Scottsdale’s largest hospital campus. 

Scottsdale Healthcare Shea is a 433-bed, full-service hospital providing emergency, medical/surgical, critical care, obstetric, pediatric, cardiovascular, orthopedic and oncology services. All patient rooms are private. Also, on the campus is The Virginia G. Piper Cancer Center and T-Gen at Scottsdale Healthcare, known throughout the southwest for their commitment to providing personalized care and their innovative combinations of community oncology services, academic medicine and genomic research.

The Seller, Shea Edward Limited Partnership, sold the 2.17 acres located at 8960 East Desert Cove Avenue in Scottsdale, on which is located a Surgicenter with 21,674 square feet of ancillary medical offices for $2,100,000 to CMMD 1031, LP and MDCM 1031, LP.  Braxton Glass, Vice President at ORION, represented the Buyer and the Seller in this transaction.

“The unsubordinated structure of the ground lease combined with the exceptional locational characteristics of the parcel create an extremely attractive risk/return profile that is rarely encountered in commercial real estate offerings”, stated Braxton Glass.

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