Ryan Cos. broke ground on One Scottsdale Medical, a 105,715-square-foot medical office building at Scottsdale Road and Thompson Peak Parkway in Scottsdale.
The two-story structure, which is on the 120-acre One Scottsdale mixed-use development, is 80% pre-leased, with California-based City of Hope and Texas-based Exalt Health as anchor tenants.
The remaining 20,000 square feet is available for lease on the ground floor for additional medical tenants. Mari Lederman and Katie McIntyre from the Phoenix office of JLL (NYSE: JLL) are the project’s exclusive leasing brokers.
Construction completion is expected by Q3 2024.
The $1 billion One Scottsdale mixed-use development is being jointly developed by DMB Associates Inc., the Corrigan Family and Macerich. it will include 2.86 million square feet of space for commercial tenants, 2,000 residential units and 400 hotel rooms.
• In other medical real estate news, the Arizona Gynecology Associates (AZGYN) has acquired a former Banner Urgent Care facility to bolster its East Valley footprint.
AZGYN paid $1.45 million to acquire the 4,307-square-foot building at 1151 N. Gilbert Road in Mesa. The company plans to renovate the building, which includes modernizing the exterior with new paint, signage, landscaping and parking lot and upgrading the building’s lobby, restrooms, exam rooms and workspaces.
An X-ray suite that will allow AZGYN to offer mammography, ultrasound and interventional radiology services and a dedicated women’s urgent care center is also part of the renovations, which are expected to be completed by December.
JLL Vice Presidents Mari Lederman and Katie McIntyre represented AZGYN. Chad Shipley and Rommie Mojahed of SVN | Desert Commercial and now CRE8 Commercial Real Estate represented the building seller, Summit Properties Group LLC.
AZGYN operates five metro Phoenix offices. It’s newest building will triple the provider’s Mesa footprint, building on a market presence that was first established in 2016. It sits just off the Loop 202, between Banner Desert and Banner Gateway hospitals, and in close proximity to Mercy Gilbert hospital.
“We looked for over a year for a freestanding facility that met our requirements for size, location and amenities,” said AZGYN CEO and Founder Kelly Roy in a statement. “Finding this building was like finding a needle in a haystack. We’re excited to begin renovations and bring our expanded services to this busy, family-oriented area of Mesa. It is the perfect location to build the community’s access to all that is available in today’s women’s health.”
New Mexican restaurant in south Scottsdale
Utah-based Cafe Rio Mexican Grill is set to open its latest Valley location in at 2712 N. Scottsdale Road, just south of Thomas Road on July 14. This will mark the third location of the fast-casual concept in Scottsdale and the 27th in the state.
The new store will feature traditional dine-in, in-app ordering, curbside pick-up, and a drive-thru, as the company tries to meet the needs and wants to a broad swath of consumers.
Cafe Rio is undergoing a massive expansion with its total footprint expanding 50% over the past five years.
Prescott multifamily development
Montezuma Heights Investors LLC will start work later this month on a $41 million, 144-unit luxury multifamily development, Montezuma Heights, in Prescott.
The community, at 609 Bagby Drive within walking distance of the city’s “Whiskey Row” entertainment district, will have one-, two- and three-bedroom floor plans, a gym, lounge, outdoor grotto with grilling area, dog parks, multiple fire pits and electric car charging stations.
“We are pleased the City of Prescott has embraced our project as it will add to the vibrancy of the downtown area and bring a live, work play housing option to downtown,” said Nick Malouff, developer and manager of Montezuma Heights Investors LLC, in a statement
Amenities will also include a trail connection to Granite Creek Park along with a trail extension to The Depot Shopping center, giving residents walking access to shopping, restaurants, and entertainment venues.
Completion of the project is expected by the end of 2024. MEB Management is the manager and leasing agent for the property.
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