AEW and Montecito Medical Real Estate have purchased Granger Medical Clinic, a newly constructed, 94,834-square-foot, class A medical office building in West Valley City, Utah.
The financial terms were not disclosed; however, the seller was Granger Medical Clinic.
The property is a four-story, build-to-suit medical office that is master leased to Granger Medical Clinic, with other local healthcare partners subleasing a portion of the building. With occupancy of 100 percent and a remaining lease term in excess of 13 years, the property provides stable and predictable long-term cash flow.
Located at 2965 West 3500 S, Granger Medical Clinic is situated in the infill submarket of West Valley City within the Salt Lake City MSA. The property is positioned along a busy commercial corridor close to Jordan Valley Medical Center West and just west of Interstate 215. Granger Medical Clinic is one of the primary anchors of Fairbourne Station, a master-planned transit-orient
