Arthrocare Arthritis Care & Research had been subleasing the space at Osborn Plaza from ITW Mortgage Investments II Inc. when the firm decided to expand its medical offices, Trevor Klinkhamer, a managing director with Insignia/ESG in Phoenix, tells GlobeSt.com. "They wanted to expand and do a new lease so we negotiated a new five-year deal," said Klinkhamer, who represented the building owner in the transaction.
The 66,542-sf, six-story office building, located at 3330 N. 2nd St., is owned by General Electric. Other medical facilities housed in the building include the Osborn Ambulatory Surgery, US Oncology and RMS Lifeline. Klinkhamer said only about 10,000 sf remains available for lease at Osborn Plaza, with full-service rents averaging about $20 per sf.
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