CBRE Facilitates $11.2 Million Sale of Gilbert Veterinary Specialty Facility Amid Rising Medical Office Investment

CBRE announced it arranged the $11,205,053 purchase of Arizona Veterinary Specialty Center, a 28,805‑square‑foot, veterinary specialty and emergency care facility in Gilbert, Arizona.

CBRE’s Nick Whitstone and Miles DeLong represented the buyer, Futurepath Development Services, a San Francisco Bay Area-based family office, in the transaction.

“We are attracted to high-quality properties with tenants who are advancing meaningful work in their fields and in the community. Veterinary specialists and emergency care providers play an essential role in the wellbeing of pets and their families, and as animal lovers ourselves, we’re proud to support that mission through our investment,” said Harpreet Grewal, CEO of Futurepath Development Services.

Located at 86 West Juniper Avenue, the property was built in 2004 and is 68% leased to Arizona Veterinary Emergency & Critical Care Center, a National Veterinary Associates and Ethos Veterinary Health company, and Thrive Pet Healthcare, two of the largest veterinary and pet care organizations in the U.S.

“Veterinary and specialty healthcare properties have attracted strong investor interest due to their stability and resilience across markets,” said Whitstone, senior vice president, CBRE. “Gilbert is one of the fastest-growing cities outside of Phoenix and is known for its well-planned communities and strong demographics, presenting strong market fundamentals for investors.”

Arizona Veterinary Specialty Center is located near Highway 60 and Highway 87, and is surrounded by complementary facilities such as hospitals, residential communities and national retailers.

Annual investment volume in medical office buildings rose 35% year-over-year to $12.6 billion in 2025, the highest annual total since 2022, according to CBRE Research. Phoenix received the third-highest medical office building investment volume, trailing four quarters, with $467.6 million.