TUCSON, ARIZ., AND LAS VEGAS — A joint venture between Cypress West Partners and TPG Angelo Gordon has purchased three medical outpatient buildings in Arizona and Nevada. Terms of the transactions were not disclosed.
The partnership acquired La Cholla Medical Plaza, a two-building asset at 6130 N. La Cholla Blvd. In Tucson, in a fee-simple transaction. Totaling 68,000 square feet, the properties were 81 percent leased at the time of sale. Northwest Hospital occupies 34 percent of the medical plaza, which is located at the Northwest Medical Center campus.
The joint venture also acquired MacFarlane Medical Center, a three-story building at 8325 W. Warm Springs Road in Las Vegas. Built in 2009, the fully leased property offers 39,279 square feet of multi-tenant space. The current seven tenants are in specialities including orthopedic, endocrinology, vascular, pediatrics, infusion, eyesore, pharmacy, hemostasis and thrombosis. The ground floor is occupied by a multi-speciality surgery center on a long-term lease.