Two large Phoenix medical office and industrial buildings totaling more than 80,000 SF have been purchased by the Next Gen Division of Helix Capital, an Arizona-based commercial real estate brokerage, management, investment services and development company.
Next Gen PV Medical, LLC purchased a 5.58-acre multi-tenant medical office plaza atNext Gen Industrial16620 N. 40th Street, Phoenix for $4M. The property features nine individual buildings, totaling 55,874 SF. Next Gen will complete significant renovations to the medical complex, and rebrand it as Paradise Valley Medical Center in early 2014. The plaza will be managed by Helix Asset Management.
Next Gen Industrial, LLC purchased a 2.29-acre industrial/flex building, located at the I-17 and Deer Valley at 2507 W. Villa Rita, Phoenix for $2.01M. The 24,433 SF building is currently 100 percent occupied and will be managed by Helix Asset Management.
“Helix specializes in repositioning real estate assets to successful viability. Both of these properties have tremendous potential, and we plan to bring that potential to fruition quickly,” said Ryan Spiekerman, principal and founder of Helix Capital. “We are especially interested in the long-term value of medical real estate, and we continue to seek additional acquisition opportunities before year end.”