Institutional Property Advisors (IPA), a division of Marcus & Millichap, is pleased to offer for sale Surprise Medical Center (the “Asset” or “Property”), a ±55,086 rentable square foot, Class A, multi-tenant medical office / office project located at 14239 W. Bell Road in Surprise, Arizona. Developed in 2006, the Property is strategically situated within a high-growth submarket of the Phoenix MSA, benefiting from strong demographic tailwinds and expanding healthcare demand.

The rent roll is comprised of 16 tenants, with approximately 80% of the building leased to medical users, including a mix of physician and healthcare service providers. The remaining space is leased to professional, client-facing businesses. Two suites are currently vacant, providing a clear path to future upside through the conversion of remaining general office space into medical tenancy. Furthermore, existing tenant rents are on average 15-20% below market providing a value-creation opportunity with the 2.8 year WALT.

Surprise Medical Center represents an exceptional stabilized investment opportunity supported by high-quality tenancy and durable underlying fundamentals. The Property has maintained consistent occupancy in excess of 90%, supported by a demonstrated history of tenant retention with an in-place weighted average lease term of approximately 10.3 years.