Irgens Sells Shea Medical Plaza for $11.6 Million
Irgens completed the $11.65 million ($275 PSF) sale of Shea Medical Plaza, 7425 E. Shea Blvd. in Scottsdale.
The 42,439 SF medical office building, which was built in 1999, is 100% leased and anchored by Scottsdale Children’s Group, NextCare and AZ Perio. Shea Medical Plaza is situated in the heart of Scottsdale, close to the Honor Health campus at 90th Street and Shea Boulevard.
“Irgens acquired this property in 2012 from a bankruptcy liquidation. The building was suffering from physical and leasing neglect so we implemented a full capital improvement and leasing plan. Our improvements enhanced the physical structures and with the incredible leasing efforts of Mike Dupuy, Fletcher Perry and Racheal Thompson the project progressed from 45% to 100% occupancy,” said an Irgens spokesperson.
Woodside Health purchased the medical office building from Irgens. The deal was brokered by Dan Postal and Brian Ackerman with Jones Lang LaSalle. Knight Management will continue as property manager for Woodside.
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