The group paid $21 million for a medical office building in Scottsdale, Ariz., according to a May 6 report from the Orange County Business Journal.
The 84,725-square-foot property, McDowell Mountain Medical, is currently 93.2% leased, according to the report.
Some tenants at the property include Select Physical Therapy, Ong Plastic Surgery, the Hormone Zone, Arizona Digestive Health and Royal Spine Surgery.
Cypress West plans to raise rent for the tenants, who are currently paying 20% less than the market rate, according to the report.
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
