An OrthoArizona medical office building in Gilbert, Ariz., has been purchased for $32.3 million, according to an April 6 report from BisNow.
Montecito Medical Real Estate acquired the nearly 50,000-square-foot facility from Sphere Investments.
The building opened in 2019 and was last sold in 2021, when Sphere Investments bought the property from OrthoArizona for $23.6 million.
The center is 100% leased to OrthoArizona, the report said.
Montecito Medical has a $6.5 billion portfolio of medical office buildings across 40 states.
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