Banner Health, Mayo Clinic Both Plan Phoenix Expansions
Applications have been submitted for permits for two healthcare-related Phoenix developments, each above $6.5M in valuation, as reported by BuildZoom. The projects include healthcare facilities for Banner Health and the Mayo Clinic.
Sheeley Farms PCD Medical Center will be a 70K SF, four-story medical office building at 9321 West Thomas Road for the Banner Estrella Medical Center, according to its permit. The current permit is for the building shell; interior work will be covered by a separate one. The contractor on the project is Okland Construction Co. of Salt Lake City.
According to its permit, 5777 East Mayo Blvd. "is a two-story core and shell addition to the south facade of Mayo Clinic Hospital with a mechanical penthouse at the third floor level." The project has 29,960 SF on the first floor, 10,600 SF on the second floor and 2,081 SF in the mechanical penthouse.
Separately, but also in the metro Phoenix healthcare sector, CBRE recently facilitated the sale of a 6,019 SF medical office building in the Baseline Crossings Office Park at 8435 East Baseline Road in Mesa. The property sold for $1.46M, or $243/SF.
The building is fully leased to American Vision Partners, an affiliate of Barnet Dulaney Perkins Eye Center and Southwestern Eye Center.
Andrew Fosberg and Dylan Brown with CBRE’s Phoenix office represented the seller, WCCP Baseline Crossings LLC, an entity formed by West Coast Capital Partners (Bill Metzler and Scott Douglas, principals) of Scottsdale and Los Angeles. The buyer, LJNJ Family, an Arizona LLC, handled the sale in-house.
“Investor demand for single-tenant medical office buildings continues to be elevated due to strong long-term fundamentals in the healthcare space,” Fosberg said.