ASC Transactions & Valuation Issues

Banner Health sells medical office building for $29M

Phoenix-based Banner Health has sold a medical office building in Peoria, Ariz., for $29 million to healthcare property manager Montecito Medical Real Estate, according to a March 17 report from Phoenix Business Journal.

By: Claire Wallace

Friday, March 17th, 2023

Banner will lease the 73,327-square-foot building back from Montecito.

Banner Health also sold a 70,000-square-foot Phoenix property for $48.5 million to Virtus Real Estate Capital.

It has an additional medical pavilion in Glendale, Ariz., listed for sale as well.

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