PHOENIX (November 25, 2013) – Colliers International in Greater Phoenix recently completed the sale of Quail Run, a 67,324-square-foot, Class A medical office building for $7.4 million, or $110 a square foot.
UHS of Phoenix LLC, a subsidiary of Universal Health Services Inc. of Pennsylvania, purchased the four-story building to open a psychiatric hospital.
A Fortune 500 company, Universal Health Services Inc. owns and operates 23 acute care hospitals and 197 behavioral health centers located in 37 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands, according to March 2013 figures on the company’s website.
SW Loan F., a Delaware Limited Partnership, sold the foreclosed building to UHS as an REO (real estate owned) property.
Constructed in 2008, the interior of the building has remained in “shell” condition, allowing for an easy transition for a hospital build-out. The building, 2545 W. Quail Ave. in Phoenix, is located near the I-17, Loop 101 and John C. Lincoln Deer Valley Hospital
Tim Dulany, associate vice president of Colliers International of Greater Phoenix, served as UHS’ broker and represents Universal Health Services nationally.
“Quail Run is one of many assets Universal Health Services Inc. is acquiring across the country to meet patient demand,” Dulany said.
Capital Asset Management of Phoenix served as W Loan F.’s broker.