Phoenix

A long vacant retail big box in Phoenix has been redeveloped into a much-needed 115,000-square-foot industrial distribution facility.

The partners say the redevelopment plan calls for the office plaza to be converted to medical and “creative” office space that would support lifestyle uses, such as senior housing. Upon completion the project will be called “The Well at Sunset.”

Healthcare Real Estate Insights presented the awards Dec. 6 to the winners of the only comprehensive national program recognizing excellence in healthcare real estate at RealShare Healthcare.

The Phoenix submarket has access to top talent and quality office space, and it is fast becoming a top location for large companies.

Panelists at RealShare Healthcare say that while skilled nursing facilities have struggled to remain profitable, they remain a part of healthcare's universe and “need to step up” and have better communication with hospitals and downstream partners.

The San Diego-based firm has completed several apartment acquisitions in Nevada and Arizona in an effort to grow its multifamily portfolio.

Along with public policy and technology, population change and psychographics will have a tremendous impact on the type of use and the quality of medical healthcare space, according to RealShare Healthcare's opening keynote speaker.

RealShare Healthcare's deal flow drivers panel say that there are opportunities out there in the MOB space, but there is a much greater demand as well, noting that “the general sophistication of the investing public has gone up.”