Phoenix, AZ
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Medical Office · Imaging

Phoenix, AZ

Property Type
Medical Office · Imaging
Address
8921 West Thomas Rd, Phoenix, AZ 85037
Square Footage
39,690 SF
Tenant
SimonMed Imaging
Lease
15-Year Term
Hold Period
7.5 Years (2018 – 2026)

Estrella Healthcare Campus was a recently renovated, single-story, 39,690-square-foot medical and professional office building located in Phoenix, Arizona. The property was fully leased for a 15-year term to SimonMed Imaging, one of the largest outpatient medical imaging providers and largest physician radiology practices in the United States.

SimonMed specializes in bringing the newest diagnostic imaging technologies to the community in an affordable and accessible way, with sites across Arizona, California, Colorado, Nevada and Florida. This location is mission critical to the practice, serving as the hub for its 39 locations statewide. It houses not only clinical services, but the firm’s technicians, records, billing and scheduling.

Cypress Exchange acquired the property in 2018 and completed a full-cycle disposition in 2026 after a 7.5-year hold.

Realized Performance

Acquisition
$15.3M (2018, fully loaded)
Disposition
$17.0M (2026)
Avg. Annual Distribution
6.25% average annual
Capital Appreciation
10% capital appreciation
Gross IRR
8% IRR

Gross returns to the investment. Past performance is not indicative of future results and there is no guarantee any investment will achieve comparable results.

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Phoenix, AZ
Phoenix, AZ
Phoenix, AZ
Phoenix, AZ
Phoenix, AZ
Phoenix, AZ

Past performance is not indicative of future results. This information is provided for illustrative purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security.