Woodside Health Adds Another Phoenix Property

Woodside Health has paid $20.9 million for Paradise Valley Plaza, a three-building, multi-tenant office and medical complex spanning 100,203 square feet in Scottsdale. Cloud Peak Development sold the asset. This marks the company’s 14th property in the Phoenix metropolitan area.

Commercial Edge reports the asset previously traded in September 2020, when Cloud Peak acquired it from Fenway Capital Advisors for $16.7 million—about $172.6 per square foot.

The Class B campus located at 5010, 5020 and 5040 E. Shea Blvd. came online in two phases in 1985 and 2000 and underwent cosmetic renovations in 2014. Amenities include interior and outdoor courtyards, exterior loading suites and about 388 parking spaces. The property was 95 percent leased at the time of sale, with the tenant roster including office and medical/wellness companies such as HonorHealth, Next Level Physical Therapy and Forma Plastic Surgery.

Cushman & Wakefield’s Eric Wichterman and Chris Toci, along with Mike Coover, represented the seller.