Transwestern Investment Group has acquired Copper Point, a 93,262-square-foot medical outpatient facility in Gilbert, Ariz. The firm paid $36 million for the asset and financed the purchase with a $24.9 million loan from First Citizens Bank, according to Maricopa County records.
The previous owner, RX Health & Science Trust—formerly known as CA Ventures—bought the asset in 2021 for $33 million. The firm will continue to manage the property through the final lease-up and stabilization process.
Copper Point occupies an 8-acre site at 3350 S. Val Vista Drive. The medical facility was approximately 87 percent leased at the time of sale, its roster including tenants such as City of Hope, Phoenix Children’s and Prosano Health.
Completed in 2008, the two-story building has floorplates ranging from 13,478 to 20,071 square feet and two passenger elevators, according to CommercialEdge information. The property also features a parking ratio of 5 spaces per 1,000 square feet.
The asset is close to Mercy Gilbert Medical Center, near the intersection of South Val Vista Drive and Highway 202. Downtown Phoenix is some 30 miles northwest.
