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Odyssey Sells Parkway Medical Plaza in Henderson

Cypress West Partners Pay $31.8M for 90,000-SF Office Bldg.
February 15, 2018
Odyssey Real Estate Capital, a local commercial real estate investment and advisory firm, sold the 90,000-square-foot Parkway Medical Plaza office building in Henderson, NV to Cypress West Partners for $31.75 million, or approximately $353 per square foot.

The three-story medical office building at 100 N. Green Valley Pky. is leased to various tenants, including Desert Family Medicine of Green Valley, Pueblo Medical Imaging, Nevada Family Care and Jackson Physical Therapy and Sports Medicine, which signed a seven-year deal for nearly 4,000 square feet last year.

Odyssey, which owns and operates 27 commercial properties in Las Vegas and Kansas City, acquired Parkway Medical Plaza in 2013 for $13.96 million.

“This asset is in the bullseye for the REITs and investment funds that are targeting well-located, off-campus medical office buildings with surgery centers, diagnostic imaging, and primary care,” said Dave Sundaram, a partner at Odyssey Real Estate Capital.

Jules Sherwood and Evan Kovac, managing directors at HFF, along with Andrew Milne, senior analyst, represented the seller.

Please see CoStar COMPS #4136459 for more information on this transaction.
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