Press Release
FOR IMMEDIATE RELEASE
Phoenix – December 19, 2025 – CBRE facilitated the sale and financing of the Halsted Medical Plaza, a 28,069-square-foot medical outpatient building (MOB) located at 1725-1727 W. Frye Road in the Chandler submarket of Phoenix, Arizona, to Coast Income Properties, Inc.
Chris Bodnar, Brannan Knott, and Cole Reethof of CBRE U.S. Healthcare Capital Markets group partnered with Philip Wurth of CBRE’s Phoenix Healthcare Leasing Team to act as the exclusive advisors to the seller. Additionally, Zack Holderman and Jesse Greshin of the CBRE U.S. Healthcare Debt & Structured Finance team, along with Amber Coleman from the CBRE Phoenix Office, arranged the bank acquisition financing for the purchaser.
Halsted Medical Plaza, constructed in 2008, sits directly adjacent to Chandler Regional Medical Center (CRMC), a regionally dominant hospital with a 34% acute care market share within a 10-mile radius. CRMC has demonstrated strong growth, completing its second major expansion in 2021 by adding 96 beds and 1,100 parking spaces. Halsted Medical Plaza is anchored by Dignity Health, an affiliate of CommonSpirit Health (Fitch: A-), which performs high-acuity services and recently expanded its premises to offer fetal diagnostics.
“Dignity Health continues its rapid expansion within the city of Chandler to capitalize on its large and affluent patient base,” said Bodnar, CBRE’s Vice Chairman of the U.S. Healthcare Capital Markets practice. “This is a great acquisition for the purchaser, which will provide predictable cash flow with potential for continued growth by Dignity Health in the market.”
Conveniently located less than a mile east of Loop 101 and north of the 202 Freeways, Halsted Medical Plaza is accessible to a population of 285,729 in Chandler with a medium household income of $107,339, which is 23% higher than the Phoenix MSA and 36% higher than the national median. Chandler also benefits from growing and diverse economic activity that includes Intel’s recent multi-billion dollar expansion. Phoenix continues to maintain its title as one of the fastest growing MSAs in the country with an estimated 4.9% growth by 2029, more than 2.5x the national average.
About Coast Income Properties
The purchaser, Coast Income Properties, Inc., is a San Diego, California-based real estate development company that specializes in developing, acquiring and managing premier real estate projects in Southern California and Arizona. Founded in 1979, the company has been a leader in San Diego’s commercial real estate and development community for over 40 years and is also active in Arizona. Since its inception, Coast Income Properties has been involved in a variety of projects valued at over $1 billion. The company’s project portfolio reflects a broad range of product types that include commercial retail centers, office projects, medical office complexes, biomedical laboratories, industrial and R&D properties and multifamily developments. For more information, please visit: www.coastincome.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, digital infrastructure services); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.
Contact:
Olivia Vallone
+1 847 691 9144
Olivia.Vallone@cbre.com
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