PHOENIX, Ariz. – The Phoenix Kidder Mathews healthcare team negotiated a deal that brought life back to a vacant space and closed another deal in which a medical back office was converted to a dental office at Biltmore Medical Mall, 2222 E. Highland Ave., in Phoenix.

Kidder Mathews Vice President Rachael Thompson and Senior Vice President Michael Dupuy helped secure the leases for a total consideration of $1.95 million and 7,863 SF.

The team negotiated a 7-year medical office lease worth $1.013 million for 4,811-square-feet and a 10-year dental office lease worth $930,575 for 3,052-square-feet.

“We are thrilled to have these two new tenants at Biltmore Medical Mall,” Thompson said. “The demand in this market has dramatically increased over the past 12 months and we hope to see the building close to 100 percent by the end of the year.”

The landlord is Welltower of Toledo, Ohio.

Thompson represented the landlord and Fletcher Perry, also of Kidder Mathews, represented the tenant, Dr. Patrick W. Hogan, Arizona Spine & Pain Specialists, in the medical office lease. This is the tenant’s sixth location in Arizona. The space was a former research space that sat vacant for 7 years.

Thompson also represented the landlord in the conversion of back office space to the dental office of A. William Choules, DDS, of Choules Family Dentistry & Orthodontics. Rich Andrus of Menlo Group represented the tenant.

Two medical office suites remain at Biltmore Medical Mall, both on the second floor. One totals 2,319-square-feet of clinical space and the other totals 5,691-square-feet of open space.

Current tenants include Arizona Oncology, Biltmore Surgical Center, Foothills Sports Medicine, TOCA, SMIL, and Eye Surgery Center at the Biltmore.

“This building is specifically in high demand with its immediate access to SR-51, good payer mix, excellent demographics, and two surgery centers on the first floor,” Thompson said. “Physicians who live near the Biltmore or Paradise Valley areas can have a practice in a well-appointed Class A medical building with little driving.”

The location offers easy, 10-minute access to Banner University Medical Center, Phoenix Children’s Hospital, and Abrazo Heart Hospital without having to have a practice in that market.

Building Under Construction Reaches 65 Percent Leased Before Completion

PHOENIX, Arizona — Irgens – Phoenix has announced three signed tenants totaling more than 27,000- square-feet for its Spectrum Medical Commons, a medical campus near Val Vista Drive and the 202 Santan Freeway.  The building, which is currently under construction, is scheduled for completion in Fall 2017.

The Spectrum Medical Commons property is located immediately adjacent to Dignity Health Mercy Gilbert Medical Center.  Warner Park Surgery Center (operated by United Surgical Partners, International) has leased 15,334-square-feet in the building. Dignity Health has leased 5,992-square-feet and Advanced Surgical Associates, Ltd. has leased 5,979-square-feet.

The two-story, multi-tenant building at 3367 S. Mercy Rd. will contain approximately 44,000- square-feet of space and is now nearly 65 percent leased.  The building will feature tenant amenities such as common conference facilities, a common break room and shaded outdoor seating.

Irgens hosted a “beam signing” event this week to celebrate the construction progress and tenant lease commitments.

“Construction is moving at a great pace and we have just hit a significant milestone with tilted up walls on this exciting project,” says Jason Anzalone, vice president of development with Irgens. “We are excited to have so much of the building committed to tenants before completion and are eager to see patients being served at Spectrum in September of this year.”

The building has been designed by Devenney Architects.  Leasing is being handled by Mike Dupuy and Rachael Thompson of Kidder Mathews.  Fletcher Perry of Kidder Mathews represented Advanced Surgical Associates in its lease.  John Asher with AT Real Estate Services represented Warner Park Surgery Center.

For more information, Anzalone should be contacted at 602-682-0192 .

Medical Campus in Gilbert Slated for February Groundbreaking

PHOENIX, Arizona — Irgens – Phoenix has announced the completed acquisition of four acres of land that will soon be the site of its $17 million Spectrum Medical Commons.  The medical campus near Val Vista Drive and the 202 Santan Freeway is located immediately adjacent to Dignity Health Mercy Gilbert Medical Center.  The planned building is 65 percent pre-leased and groundbreaking is planned for this week.

Irgens will begin development with a two-story, multi-tenant building at 3367 S. Mercy Rd.  The building will contain approximately 44,000-square-feet of space for lease and will feature common conference/break room facilities and outdoor patio seating for tenant staff.  This will be the first new multi-tenant medical building for lease developed in the area since 2010.

“The Southeast Valley has been a popular destination for expansion of medical practices,” says Jason Anzalone, vice president of development for Irgens.  “We are thrilled to begin this exciting new project, bringing the most innovative medical office building to the Gilbert area.  The state-of-the-art building brings unparalleled quality and advancement in this category of development.  We are pleased that the first tenants of the project will be moved in and seeing patients in September.”

The building has been designed by Devenney Architects and construction is being handled by A.R. Mays. Leasing is being handled by Michael Dupuy, Fletcher Perry and Rachael Thompson of Kidder Matthews.  John Asher of AT Real Estate represented Irgens in the land acquisition and Leroy Breinholt and Cory Sposi of CPI represented the seller.