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3717 S Rome StGilbert, AZ 85297
San Tan Medical
Asset ClassHealthcare Facility, Office
±22,235 SF Modern Medical Office Building, NNN Leases, Top Tier Credit, Ideal Greater Phoenix Location
overview of deal

Overview

Kidder Mathews, as exclusive advisor, is pleased to present the unique opportunity to acquire the fee simple interest in San Tan Medical (the "Property"), a modern, 22,235-square-foot, single-story medical office building strategically located directly adjacent to Mercy Gilbert Medical Center in the rapidly expanding community of Gilbert, Arizona. Completed in 2021, the Property is 100% leased to four premier healthcare providers—Sonoran Spine Center (a collaboration with HonorHealth), Evernorth Care Group (a subsidiary of Cigna Healthcare), Southwest Kidney Institute, and Activated by Everside Health—secured on NNN leases with 3% average annual rent escalations. Designed with state-of-the-art facilities to meet the evolving demands of medical practices, the Property offers ample parking with a ratio of 6.6 spaces per 1,000 SF and requires minimal future capital expenditures.

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Investment Highlights

# Tenants
4
% Leased
100%
Weighted Average Lease Term
4.4 Years
Year Built
2021
  • 100% occupied by top-tier medical tenants like Sonoran Spine Center and Cigna Healthcare, ensuring strong, diversified income.
  • NNN leases with ~3% annual rent escalations provide secure income and inflation protection.
  • Prime location adjacent to Mercy Gilbert Medical Center enhances tenant synergy and patient access.
  • Modern facility built in 2021 minimizes future capital expenditures and meets evolving medical needs.
  • Strong market with Gilbert’s high $99,181 median household income and a low 9.2% vacancy rate.

 

Tenancy

Tenant
SF
101
Cigna Healthcare of Arizona, Inc. (d.b.a. Evernorth Health Services)
7,315
200
Southwest Kidney Institute, PLC
3,400
106
Sonoran Spine Center, PC (assigned to HonorHealth)
9,036
109
Arizona Pipe Trades Health & Welfare Trust Fund (d.b.a. Activated by Everside Health)
2,400
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3717 S Rome StGilbert, AZ 85297
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Listing provided by Revere CRE