Montecito Medical, owner of medical office properties throughout the country, has completed its acquisition of Perimeter Center Commons, a medical office complex located in the Phoenix metro area from national real estate firm, Irgens. The two-story, 47,322 square-foot building is 100% leased with United Urology Group serving as the property’s anchor tenant.
“This outstanding asset has all of the key attributes we look for in strategically acquiring medical office properties,” said Bryan Brown, senior vice president of acquisitions at Montecito Medical. “It’s a nearly new, state-of-the-art building, with well-established and respected medical tenants and a favorable location in one of the most attractive submarkets of one of the nation’s most attractive cities for medical real estate investment. We are very pleased to add the Irgens-developed Perimeter Center Commons to our portfolio.”
In the past year, the company has expanded its Arizona presence greatly, with three other medical office properties in the greater Phoenix metro area. North Scottsdale is part of the 11th most populous MSA in the United States, and Phoenix was labeled as the fastest growing city in the country for the fourth consecutive year in 2020 by the U.S. Census Bureau.