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20401 North 29th Avenue

Big Sky Medical Acquires Blackhawk Medical Center In Phoenix For $46M
SOLDMedical Office

Big Sky Medical Acquires Blackhawk Medical Center In Phoenix For $46M

20401 North 29th Avenue & 2902 Agua Fria Freeway

$46,000,000

$91/SF

Building Size

504,000 SF

Asset Type

Medical Office

Closing

Jan 4, 2024

AI

Big Sky Medical has acquired the 252,000-square-foot Blackhawk Medical Center in Phoenix, AZ for $46 million. The property is located at 20401 North 29th Avenue & 2902 Agua Fria Freeway. The medical office spans over 24 acres and was sold by ViaWest Group.

Summary of transaction details

  • Property Type: Medical Office
  • Transaction Amount: $46,000,000
  • Address: 20401 North 29th Avenue & 2902 Agua Fria Freeway
  • Market: Phoenix, AZ
  • SF: 252,000

Jason Signor from Big Sky Medical represented the buyer in the deal, while Steven R. Schwarz from ViaWest Group represented the seller. The transaction was facilitated by brokers at Cushman & Wakefield: Alexandra Loye, Eric Wichterman, Mike Coover, and Steve Lindley. The lender for the transaction was Taconic Capital.

Players

Eric Wichterman

Cushman & Wakefield

Broker

$473.8M

vol

26 deals

Broker
Jason L. Signor

Jason L. Signor

Big Sky Medical

Buyer

$487.4M

vol

6 deals

Buyer

Steven Schwarz

ViaWest Group

Seller

$60.5M

vol

2 deals

Seller

Phoenix Medical Office Market Snapshot

Boundary boundary · Medical Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.34%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93