JLL Capital Markets led the sale for mission-critical Chandler Medical Pavilion, located in Chandler, Arizona
News release
09 January 2025
Phoenix area medical building trades for $30 million
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PHOENIX, Jan. 9, 2025 – JLL Capital Markets announced today that it has completed the $30 million sale of Chandler Medical Pavilion, a fully leased outpatient medical building totaling 65,931 square feet, located in Chandler, Arizona.
JLL’s Medical Properties Capital Markets team represented the seller, a partnership between Unbound Development and Webb Investments, and procured the buyer, Montecito Medical Real Estate.
Chandler Medical Pavilion was completed in 2021 as a build-to-suit for the property’s sole tenant, Banner Health, the largest integrated health system in Phoenix and Arizona. The highly specialized outpatient center offers an ambulatory surgery center with three operating rooms, an advanced imaging center, an accredited cardiology department and a Banner Health Clinic offering gastroenterology, endocrinology and orthopedics.
Located at 1125 S. Alma School Rd., Chandler Medical Pavilion was purpose-built for Banner Health located adjacent to the recently built Banner Ocotillo Medical Center benefiting from excellent accessibility and visibility from Loop 202. Chandler is one of the fastest growing areas in the Phoenix metro, experiencing annual population growth of 2.7 percent on average since 2010.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Unbound Development
Established in 2020, Unbound Development is a full-service real estate development company based out of Phoenix, Arizona. To learn more, please visit: unbounddev.com.
About Montecito Medical Real Estate
Montecito Medical is one of the nation’s largest privately held companies specializing in healthcare-related real estate acquisitions and partnering with physicians and developers to fund development of medical real estate. The company also supports providers with a suite of AI-powered technology solutions that increase revenues, reduce costs and build physician wealth. Since 2006, Montecito has completed transactions involving more than $6 billion in medical real estate. Headquartered in Nashville, TN, the company was named for six consecutive years as a “key influencer in healthcare real estate” by GlobeSt.com and the editors of Real Estate Forum. For more information, please visit montecitomac.com.