PHOENIX – Meridian, a full-service commercial real estate developer and owner of medical real estate, is pleased to announce that it has completed the renovation and repositioning of Grunow Memorial Medical Center, a landmark 53,000-square-foot, two-story, medical office building located at 926 East McDowell Road in Phoenix, Arizona. Once the repositioning was completed, Meridian formed a joint venture with Harrison Street, a Chicago-based investment management firm, for the recapitalization of Grunow Memorial Medical Center.

“We are very excited about partnering with Meridian on the ownership of this iconic building,” said Mike Gordon, Senior Managing Director at Harrison Street. “The partnership on Grunow Memorial Medical Center aligned extremely well with our firm’s strategy of investing in high quality healthcare real estate.”

In September 2017, Meridian purchased the then 25 percent leased building located adjacent to Banner Health University Medical Center’s Phoenix Campus and Phoenix Children’s Hospital. The property is now approximately 90 percent leased to 12 tenants, including DaVita Dialysis and a well-known regional infusion group.

“The acquisition of Grunow Memorial Medical Center represented Meridian’s first major transaction outside of California. This repositioning is a great example of how Meridian is leveraging its medical expertise to expand into new markets and solve real estate needs for our clients,” said Meridian’s Senior Vice President Mike Conn.

“The historic Grunow Memorial Medical Center represented a challenging value-add opportunity where we could assist our clients with their outpatient ambulatory strategy,” Conn continues. “We added fire sprinklers to the entire building, upgraded ADA, replaced the HVAC, reduced the load factor by reconfiguring space, and updated many of the second-generation medical space for our users. We then brought in Harrison Street as a trusted partner to collaborate on the remaining lease-up and ownership of the property.”

Grunow Memorial Medical Center is located in the Coronado Historic District of Phoenix. It was built in 1931 and designed by Arizona architect Lester A. Byron. “Grunow was one of the first clinics of its kind in Arizona where doctors could be located near a hospital,” Conn noted. “It also created the opportunity for patients to see their doctor in more of a suburban setting rather than having to go downtown.”

Avison Young Principals Alexandra Loye and Julie A. Johnson, CCIM, from the firm’s Phoenix office, assisted Meridian in both the leasing activities and the recapitalization of the property. “Avison did a great job helping us reposition this project. The building was mostly vacant without much leasing activity prior to our acquisition, and Julie and Alex performed well in helping us stabilize the asset,” Conn noted. KQ Architects assisted with capital improvements and tenant improvement buildouts.

Meridian also closed escrow on the sale of a repositioned medical clinic in Long Beach. That building was sold as a triple-netleased investment. Meridian currently owns and manages healthcare properties throughout the western United States.

Shelter seeing increase in number of pets

PIMA COUNTY –Pima Animal Care Center staff needs fosters to help them care for the greatest number of pets they’ve seen in months. The shelter is housing about 400 dogs and 100 cats. That number is expected to increase as the shelter sees more kittens being born across the county.

So far this year, the clinic has treated 35 pets who have been hit by cars, 223 pets with some type of wound, 68 pets with broken bones, 36 cases of Parvo, and 65 cases of Valley Fever.

The clinic needs to make room so that it can prepare for incoming medical cases. Many of the pets there are in need of a quiet place to recover before they are available to adopt. Those who are interested in fostering can sign up online or visit the shelter in person.

Through the end of the month , adoption fees for all “Volunteer Favorites” have been waived. Look for signs on the kennel that say “I’m a PACC Volunteer Pick!”

PACC is located at 4000 N. Silverbell Road, open Monday through Friday, noon-7 p.m. and 10 a.m. to 5 p.m. on weekends.  All pets adopted will come spayed or neutered, with age-appropriate vaccinations, a microchip and a free vet visit. A $19 licensing fee will apply to dogs.

This weekend the shelter is participating in the mega adoption fair, Adopt Love. Adopt Local, April 13, from 9 a.m. to 4 p.m. at the West Hall of the Tucson Expo Center, 3750 E. Irvington Rd. Admission and parking are both free.

Grand Opening of Lennar Homes models, food trucks, music, kid’s activities and Easter Bunny visit

TUCSON, ARIZONA — La Estancia will be celebrating the opening of Lennar Homes’ new home neighborhood and models at the La Estancia Spring Celebration event from 12 p.m. to 3 p.m. on Saturday, April 13.

The Spring Celebration event is open to the public and will feature food trucks, music, face painting, a balloon artist, inflatable bounce houses, raffles and model home tours of all three new homebuilders – Meritage Homes, Richmond American and Lennar Homes.

Event guests will start the La Estancia Spring Celebration event at the La Estancia Community Park located at 6725 E. Via Pompas Morenas in Tucson to receive an event map with model locations and enjoy event activities. A special visit from the Easter Bunny is scheduled for 1 p.m.

La Estancia’s family-friendly community offers a diverse range of home styles and recreation experiences for residents. The hub of the community is the expansive community park featuring a pool, children’s play area, splash pad, event lawn, and picnic ramadas.

The award-winning La Estancia community is located along the I-10 between Wilmot Road and Kolb Road, and offers nearby access to the Julian Wash trail system. The community is within close proximity to the University of Arizona, the David-Monthan Air Force Base, Tucson International Airport and the highly-ranked Vail School District. www.sunbeltholdings.com/property/la-estancia.