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Work Wraps Up on $5.1-Mil Medical Office Project

GLENDALE, AZ-The 38,000-sf second phase of a 100,00-sf medical office project is ready for a grand opening. The $5.1-million, fully leased Thunderbird Paseo Medical Plaza offers direct access to the Valley's largest hospital.

By D.J. Burrough | Updated on August 30, 2001

GLENDALE, AZ-Ensemble Investments, a Phoenix-based developer and investor, has completed construction on a 38,000-sf class A medical office building on the campus of one of the Valley’s largest hospitals.

The second phase of Thunderbird Paseo Medical Plaza, situated at 5605 W. Eugie Ave., provides direct access to the hospital, on-site lab and radiology services of Thunderbird Samaritan Medical Center, explains Randy McGrane, Ensemble’s managing director. “We’ve timed the completion of the project to meet the growing demand for medical office space,” he says.

While demand for office space has gone south in line with the declining economy, it has remained high for medical office space in the Valley, say local experts. The Valley’s overall direct and sublease office vacancy rate is about 18%, but most medical office buildings are under 10%.

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