A medical office building on the Tempe St. Luke’s Hospital campus is seeing significant new leasing activity after key improvements were made to the property
Tempe St. Luke’s Medical Office Building is an approximately 60,000-square-foot facility located at 1492 S. Mill Avenue.
The property has attracted 8,500 square feet in new leases since a revitalization of the property finished about six months ago.
That includes practices like a multispecialty clinic, orthopedics and clinical research. The improvements included new landscaping, new technology, monument signage and upgraded HVAC systems.
Combined with the upgrades, the property is benefiting from significant new development that is taking place in Downtown Tempe including apartments, class A office, retail, high-end senior living and, of course, continuing expansion of ASU.
“There’s a great deal of demand and very little supply of quality medical office space in this submarket, so we are seeing strong interest in this medical office building,” said Perry Gabuzzi, director of brokerage services for Peoria-based Plaza Companies, which handles leasing for the owners of the property.
“The success of this building is a direct result of strong, creative ownership and our leasing team’s ability to create new opportunities. This collaborative effort is really making a difference”
The medical office building is owned by a publicly traded real estate investment company and professionally managed by NexCore Properties LLC, a significant full-service medical real estate company. Together, they identified a mix of improvements designed to maximize its leasing potential.
“It’s critical to keep properties such as these as modern and up to date as possible, and that’s been our goal with this renovation,” said Bruce Jackson, asset manager with NexCore Properties.
“This is a growing area of our community and a key health care resource for local residents. We’re pleased to see so many health care providers call this property home.
Tempe St. Luke’s Hospital is a 74-bed full-service hospital that offers a broad range of medical services. From its emergency department to its critical care unit to specialty programs like wound care and pain management, the Tempe St. Luke’s team provides high-quality care in a warm, friendly hospital environment.
Plaza Companies develops and manages medical office and commercial office properties, technology and bioscience facilities, mixed-use properties and senior housing communities.