Colliers Brokers Phoenix Repurposed Building Sale
- Mar 27, 2020
Colliers International has brokered the $2.5 million sale of a 15,286-square-foot building in Gilbert, Ariz. Senior Vice President Alexandra Loye and Executive Vice President Julie Johnson represented seller Spear Investors LLC in the disposition. The buyer intends to repurpose the property as a multi-specialty outpatient ambulatory surgery center.
Earlier this month, the same brokerage duo negotiated two long-term leases at a 37,424-square-foot medical campus in Surprise, Ariz. The facility includes the only off-campus ambulatory surgery center existing so far in the Northwest Valley.
The freestanding asset in Gilbert sits on a 2-acre parcel at 838 W. Elliott Road. Located 2.5 miles south of Interstate 60, the property is some 21 miles southeast of downtown Phoenix and 2 miles from downtown Gilbert. Constructed in 2000 and renovated in 2008, the property was formerly occupied by the Walmart Marketside grocery concept between 2008 and 2011.