"We should be fully leased by the time we open in December," Meghan Sherwood, with the Plaza Cos. tells GlobeSt.com of the $14-million Princess Medical Center, located in the Perimeter Center at 8571 E. Princess Dr.
Designed by the Butler Design Group of Phoenix, the 75,280-sf, two-building project will be built by Phoenix-based Summit Builders. The exteriors on both buildings will feature faux stone accents and reflective glass along with interior lobbies composed of stained concrete and ceramic tile floors with wood paneled ceilings.
"It will definitely be a higher end, class A medical office building," said Sherwood, noting that the plans also call for covered parking, a cafe and an artwork-filled courtyard. Situated near the junction of Loop 101 and Princess Drive, the project currently is leasing at $23 per sf triple net with generous tenant improvement packages of $35 per sf and up, said Sherwood.
The project is the fourth medical office facility constructed by Summit Builders for the Plaza Cos., a Peoria, AZ-based operation founded in 1975 with the teaming of two firms experienced in medical/research office environments and senior housing. Summit and Plaza's other partnerships are Arrowhead Professional Center Phase III in Peoria, which delivered in 2001; Plaza Medical & Research Center 1, completed in 2000, and the adjacent Plaza Medical & Research Center II, a 2002 project, both located at the Plaza Del Rio Campus in Peoria.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
