November 19, 2012 by The Phoenix Business Journal

 

Arrowhead Health Center’s 11,350-square-foot satellite facility in Scottsdale has been sold in a sale-leaseback deal to a private Florida investment firm for $3.3 million, according to a statement Monday from Lee & Associates Inc.

 

The statement did not disclose the names of either the buyer nor seller, but did include the physical address of the property, which enabled me to find the identities of both parties through public records in the Maricopa County Assessor’s Office and the Arizona Corporation Commission.

 

Public records show that the seller was Scottsdale Health Office Properties LLC, which is an Arizona entity managed by former Phoenix Mayor Paul Johnson.

 

The buyer was 2629 North Scottsdale AZ LLC, which is managed by an entity of real estate investment firm Noble Properties Inc. in Palm Beach Gardens, Fla. and Traci L. Ambrosino, vice president of Noble Properties.

 

The Noble Properties entity paid cash last month for the Arrowhead Health building, which is located along Scottsdale Road just south of Thomas Road and houses an ambulatory surgical center, according to the statement from the North San Diego County office of Lee & Associates, which represented Johnson’s entity.

 

“This purchase was an opportunity for our investor to obtain not only a well located asset but, an opportunity to work with a highly reputable tenant with a proven track record for success in the Arizona market,” said Ryan Bennett of Lee & Associates who helped broker the deal.