Phoenix is becoming a hub for healthcare and bioscience industries, resulting in revitalization and support for our community. Driven even further due to the COVID-19 pandemic, the demand for medical real estate is only becoming greater. There are several properties in development that will generate economic growth and provide much-needed services to patients.
As one of the top commercial estate brokers in Phoenix, we always have our eyes on the market. These are just a few properties that you should watch out for as they are built.
Mayo Clinic Hospital’s $748 Million Expansion
One of the most exciting developments in Phoenix involves Mayo Clinic’s campus expansion. The goal is to double the size of its campus to facilitate over 10,000+ employees and patients. And more employees means more support for our community.
The project will add 1.6 million square feet of building space and will increase the number of inpatient beds from 304 to 403 by 2023. If that isn’t exciting enough the facility will include a six-story patient tower, a three-floor addition to an existing building, and expansion to their ER and parking lot.
The new building will increase Mayo Clinic’s research footprint in Phoenix by offering new team science opportunities and research space. Additionally, it will feature medical simulation suites, procedural labs, and comprehensive classrooms for further education. This development is an incredible addition to the medical real estate across the Valley and we look forward to its completion.
Creighton University is Set to Open This Year
at Creighton University’s Health Sciences Phoenix campus is set to open this fall. The 180,000 square foot campus expects to enroll more than 900 students pursuing degrees in different health services. The state-of-the-art facility will feature cutting-edge technology, equipment, and spaces designed to enrich Creighton students’ education and ready them for real-world application.
Plaza Companies is proud to make this exceptional medical facility a reality. Creighton University is an extraordinary institution that we’re excited to work with to bring more quality medical care to the Valley. We specialize in medical real estate, and this is bar none one of our greatest accomplishments. We can’t wait to celebrate the grand opening.
HonorHealth Opens Their Neuroscience Institute
HonorHealth is a leading healthcare provider that services 1.6 million people in the Valley. They recently celebrated the opening of the Bob Bové Neuroscience Institute, a state-of-the-art neuroscience center located at HonorHealth Scottsdale Osborn Medical Center.
The $44 million facility is five stories with a total of 120,000 square feet of space to facilitate its operations. The building includes a state-of-the-art conference center, a 32-chair infusion suite, a physical therapy center, a wellness center, and a biology lab. Additionally, the medical real estate facilitates Spine Group Arizona, Barrow Brain and Spine neurosurgeon offices with room for 12 more providers.
The property will be a tremendous asset to our community by offering comprehensive support for patients seeking potential life-changing therapies.
Phoenix Children’s Hospital is Developing Big in the West Valley
Another huge development in the works comes from Phoenix Children’s and their development in the West Valley. They are expanding heavily in the area by investing $33.5 million to build a freestanding emergency department in Avondale, along with a $134.7 million hospital in Glendale.
The plans call for breaking ground in Summer 2021 with the emergency facility opening in Spring 2023 and the hospital opening in 2024. This is also on the heels of their soon-to-be-open sports medicine physical therapy clinic located in Avondale. The projects are expected to bring more than 650 jobs to the area, and increase medical coverage to Valley residents.
Plaza Companies is Your Go-To Source for Medical Real Estate
Founded in 1982, Plaza Companies is a full-service real estate firm specializing in leasing, management, construction, and development of medical and commercial real estate across Arizona. We have been the trusted source for quality medical office space for countless clients since our humble beginnings. Contact us today to learn about our available medical properties.