Healthcare real estate private equity platform Hammes Partners purchased Gilbert, Ariz.-based Spectrum Medical Commons from Irgens for $17.75 million, AZBigMedia reports.
What you should know:
1. The 43,355-square-foot medical office building is a class A site.
2. The building features a modern surgery center and is partially anchored by Arizona-based Advanced Surgical Associates.
3. Demand for medical office space is rising in the Phoenix metropolitan area. Vacancy rates have dropped by 33 percent since 2010, real estate firm JLL said. JLL helped facilitate the transaction.