Cypress West Partners has acquired a four-building, multi-tenant medical office building portfolio in the Las Vegas suburb of Henderson, Nev. Total sale price for the portfolio totaled $17.1 million.
“Medical office buildings are prized among real estate investors, as they are historically among the most stable asset types,” said Matt Bear, founder and CEO of Bear Real Estate Advisors. “Wigwam Professional Center is ideally located in the densely populated and affluent Green Valley neighborhood of Greater Las Vegas, where demand for healthcare services continues to grow along with the population.”
Built between 1998 and 2002, the portfolio totals approximately 50,000 square feet and is 100 percent leased. Located at 2500, 2510, 2625 and 2649 Wigwam Parkway, the portfolio is located near Parkway Surgery Center and St. Rose Dominican Hospital, with convenient access to Interstate 215.
Chris Cumella, partner with Cypress West, added, “Acquiring the Wigwam
