Arizona real estate firm makes one of year
Healthcare Trust of America, an Arizona-based real estate investment firm, purchased a 45,000-square-foot medical office building on the Sierra Vista Regional Medical Center campus for $10.9 million. HTA bought the San Luis Obispo property directly from the developer, Chicago-based Healthcare Development Partners, on Aug. 5, marking one of the largest SLO commercial property sales this year.
Mark Engstrom, executive vice president of acquisitions at HTA, said his firm was attracted to the Sierra Vista building because it is brand new and because it’s an on-campus space.
The three-story building is 85 percent leased. It shares the campus with Sierra Vista, the largest medical hospital in San Luis Obispo County.