Colliers International to handle leasing for Desert Medical Plaza in Mesa

Medical office project to undergo multi-million-dollar renovation

Phoenix, October 15, 2019Alexandra Loye and Julie Johnson of Colliers International in Arizona have been enlisted to handle leasing for the Desert Medical Plaza, a four-building, 289,068-square-foot medical office project located on the Banner Desert Medical Center campus on Dobson Road and the US-60 in Mesa, owned by Lillibridge Healthcare Services.

Currently offering attractive leasing packages for new tenants and renewals, the buildings, which are located at 1432, 1450, 1500 and 1520 S. Dobson Road in Mesa, will undergo a multi-million-dollar modernization project in 2020 by Krause Interior Architecture, Inc.

The extensive changes to bring all the buildings to a contemporary Class-A level will include new facades and entrances for two buildings, redesign of all lobbies and common areas, as well as an extensive exterior renovation, which will add an attractive outdoor plaza with on-site cafe and new robust signage package.

The project will include construction of move-in ready spec suites that will be available for immediate occupancy. There is tremendous opportunity for stabilizing the campus with 81,960 square feet currently available for lease.

Desert Medical Plaza is situated on the campus of Banner Desert Medical Center, home to Cardon Children’s Hospital and Banner MD Anderson Cancer Center. Primary tenants of the development include Banner Health, Tri City Cardiology and The CORE Institute (orthopedic surgeons and neurologists).

Desert Medical Plaza is owned by Lillibridge Healthcare Services (‘Lillibridge’), a wholly-owned subsidiary of Ventas, Inc. The company is recognized for creating preeminent and exceptional spaces for delivery of quality healthcare. Lillibridge has partnered with PMB Real Estate Services (‘PMBRES’) on the Desert Medical Plaza project. PMBRES is a leading full-service healthcare real estate services company that works with health systems, hospitals, medical groups, specialty providers and academic medical centers across the West Coast.

“This is a very exciting opportunity to lease a large trophy medical office portfolio on behalf of an institutional owner that has traditionally handled their leasing in-house,” says Loye. “Their decision to engage third-party leasing services speaks to the value and advantages of local market brokerage knowledge and expertise. Once this major renovation is complete, the buildings will display the qualities of a modern medical office campus, perfectly suited to meet the needs of the evolved healthcare tenant.”

About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management.

Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers and LinkedIn.

Colliers International in Arizona has served clients locally and globally for more than 35 years.


Related Experts
expert photo

Julie Johnson

Executive Vice President

Phoenix

I am an industry leader in providing comprehensive healthcare and seniors housing real estate services throughout the greater Phoenix region. Specific areas of specialization include single- and multi-tenant medical office buildings, surgery centers, hospitals and specialty hospitals, behavioral health facilities, and seniors housing (skilled nursing, assisted living, memory care and independent living).

As an executive vice president with Colliers International, I represent landlords, tenants, investors and owner/users, providing acquisition, disposition, leasing, sale/leaseback, site selection, consulting, and development services.

With extensive experience and long-standing relationships throughout the healthcare industry, I have a comprehensive understanding of the complex challenges of healthcare clients, which enables me to bring a unique perspective to address their individualized needs.

Clients rely on my in-depth knowledge of healthcare delivery, hospitals, providers, managed care and seniors housing to guide them in strategic real estate decisions. Additionally, my strong analytical skills in financial proformas enable me to help clients mitigate risk and maximize returns.

Recognized locally and nationally as one of the industry’s foremost thought leaders and most qualified healthcare real estate specialists, I serve as a valuable resource and member of my clients’ teams. My commitment is to provide the highest level of service to achieve my clients’ business and real estate objectives.

As one of the first brokers to specialize in healthcare, I developed the unique skillset needed to serve this industry. For more than 25 years, I have been a foremost leader in healthcare real estate and integrally involved with the growth and evolution of healthcare during my career.

Prior to joining Colliers, I was a principal with Avison Young and co-leader of its national healthcare practice group, tasked with growing the healthcare business line.

View expert
expert photo

Alexandra Loye

Senior Vice President

Phoenix

I provide comprehensive healthcare and seniors housing real estate services, specializing in medical office buildings, behavioral health, and seniors housing facilities (skilled nursing, assisted living, memory care and independent living). I partner with Julie Johnson, executive vice president.

As a senior vice president with Colliers International, I represent landlords, tenants, investors and owner/users, providing acquisition, disposition, leasing, and site selection services. Through market awareness, time-sensitive project management, aggressive and strategic negotiating tactics, and prompt communication, I assist clients in achieving commercial real estate success, while saving them time and money.

Throughout property acquisition, ownership and disposition, I advise and work with owners and landlords to maximize the value of their assets. Leveraging detailed market intelligence, I identify opportunities that help clients achieve their investment goals.

Tenants and buyers benefit from my cost-free real estate consulting services, as I educate clients on the ever-changing real estate market and how to lower occupancy costs, while achieving maximum lease or purchase concessions. I evaluate market alternatives and form strategies to meet clients’ current and future needs.

An energetic, creative and detail-oriented professional, I pride myself on being a collaborative partner who delivers exemplary service to my clients. With more than 10 years of experience, I am a seasoned commercial real estate advisor with a proven track record of success working on behalf of my clients.

Prior to joining Colliers, I was a principal with Avison Young, specializing in real estate services and solutions for owners, investors and occupiers of medical office and senior housing properties. I served as senior vice president at GPE Commercial Advisors, prior to the firm’s acquisition by Avison Young.

Previously, I was a senior associate with NAI Horizon, focused on national investment and distressed sales, and local medical office sales and leasing. My brokerage career began in college as an intern at Cushman & Wakefield, later joining Grubb & Ellis.

View expert