Parsons-owned Arrowhead office, medical complex sells for $16.5 million

July 3rd, 2018

Bob Parsons' property company was on the selling end of a medical office campus deal, collecting $16.5 million in the sale.

Scottsdale-based YAM Properties, the GoDaddy Inc. founder's real estate firm, sold the eight-building Arrowhead Professional Center office campus south of Union Hills Drive in Glendale.

The center at 18301 N. 79th Avenue includes 70,652 square feet of medical and office space and is 100 percent occupied. It is anchored by a surgery center jointly owned by Banner Health and the Core Institute.

Steve Lindley, Bob Buckley, Tracy Cartledge, Sheila Bale, Tom Weinhold and Ryan O'Connor, all of Cushman and Wakefield, represented YAM Properties, in the transaction. Cleveland-based Woodside Health, which has a portfolio of medical buildings, bought the property.

YAM Properties has been a growing force around the Valley. It owns two other properties in north Glendale - Il Palazzo at Arrowhead Ranch and the Citadelle Plaza, both along 59th Avenue near Loop 101 - as well as 12 other properties throughout the Valley.

It's biggest purchase was the $133 million buy of Westgate Entertainment District in Glendale last month.

Author: Corina Vanek, Reporter, Phoenix Business Journal


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