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PHOENIX — Meridian has completed the sale of Grunow Memorial Medical Center, a medical office property located in Phoenix. A private Canadian investor acquired the asset for $17.9 million.
Located at 925 E. McDowell, Grunow Memorial Medical Center features 53,000 square feet of medical office space. At the time of sale, the building was 90 percent leased to 12 tenants, including DaVita Dialysis. Lester A. Bryon designed the property, which was constructed in 1931.
Mindy Berman of JLL represented Meridian in the transaction.