The medical office lease market has witnessed a volatile recovery from the recession and now showing steady, healthy growth. Tenant demand is forecast to succeed in its highest annual total in nearly a decade, and new construction is restricted. Improving property fundamentals is happening when cap rates for medical office buildings provide a yield premium and interest rates are at record lows.
Best Medical Office Properties For Lease In Phoenix
101 Medical Gateway Building
The building construction consists of 4” poured in situ concrete slabs on ferroconcrete footings. The second floor consists of lightweight concrete in a steel pan. The flat roof is built-up supported by steel beams and trusses. Exterior walls are tilt concrete, column spandrels, and ribbon glass. Windows and exterior doors contain tinted, high-performance, one-inch insulated glass set in anodized aluminum frames.
This medical office property has a common area interior improvements include polished granite flooring, carpet, recessed can light, painted hard lid ceiling, wood wall accents and baseboards, artwork, furniture, directory signage, and a tv monitor owned and employed by the University of Phoenix. Tenant improvements are a mixture of painted hard lid ceiling, suspended acoustic ceiling tiles, lay-in fluorescent fixtures, recessed lighting, pendant lights, tile floors, laminate flooring, and commercial carpet. Interior doors are a mixture of solid core wood and wood with glass inserts.
Following are the Building Features
- 24,000 SF
- 2-Story health facility
- Class A health facility
- Each Floor Restroom
- Signage
Paradise Valley Professional
The Prestigious Paradise Valley is nationally renowned because it is the most affluent and upscale residential trade area in Metro Phoenix.15½ square miles in size and comprises exclusively one-acre (minimum) residential land parcels. Paradise Valley Plaza—located along its borders.
Paradise Valley Plaza benefits from its proximity to the heavily-retailed intersection of Tatum and Shea Boulevards, where a few half-million square feet of retail amenities are located, including Whole Foods, Trader Joe’s, and a Fry’s Marketplace.
Following are the Building Features
- Three two-Story complex
- It was constructed in 1984, 1985, and 2000, with an in-depth $800,000 standard area renovation completed in 2015.
- Rare Santa Fe architecture, unique and in high demand within the market.
- Precious monument and building signage.
Tatum Highlands Medical & Dental office block
The Tatum Highlands Medical and Dental office block is the exclusive suburban medical complex serving the residential communities north of Desert Ridge, including Cave Creek. Integrate 1998 & 2000, the combined 32,871 square-foot, the single-story office has historically high occupancy and is leased to medical & dental professionals with the bulk of tenants within the building 5+ years.
Following are the Building Features
- Complex Single-Story health facility
- Medical Office (27,204 RSF)
- Dental Office (5,667 RSF)
- 32,871 combined SF
- Professionally Managed
- Hospital Anchor Tenant (HONOR HEALTH)
- Monument sign and building visible from busy Tatum Boulevard
