|Physicians Realty Trust (NYSE:DOC) has selected Cushman & Wakefield to market a 334,489-square-foot (sf), four property medical office portfolio. The leasing assignment has been awarded to the Cushman & Wakefield team of Sheila Bale, Tom Weinhold and Ryan O’Connor.
“By partnering with local teams like Cushman & Wakefield to fill vacant space, we are building stronger relationships with our tenant and hospital partners while enhancing the healthcare referral patterns on our campuses,” said Amy Hall, Vice President of Leasing for Physicians Realty Trust.
The Physicians Realty Trust Portfolio includes four properties –3815 E. Bell Road in Phoenix is a four-story, multi-tenant building with 122,063 rentable square feet built in 2006 and located on the Paradise Valley Hospital Campus; 13555 W. McDowell Road in Goodyear a three-story, multi-tenant building with 101, 241 rentable square feet built in 2004 and located on the West Valley Hospital Campus; 9250 N. 3rd Street in Phoenix is a 124,000 sf, multi-tenant building built in 2007 and located on the John C Lincoln Campus; and 16838 E. Palisades Blvd. in Fountain Hills is a three building, Class A medical and dental property totaling 49,054 sf situated on six acres with redevelopment construction underway and expansion available in Phase II.
Currently 84% leased, Physicians Realty Trust plans for common area renovations and tenant improvement allowances. The team will be marketing five to ten year leases for all four buildings within the portfolio.
“We feel extremely fortunate to have the opportunity to get creative about growing the occupancy in the portfolio. Arizona is seeing the effects of all the changes in the national healthcare market and resulting in different motivations in real estate occupied by physicians and hospital systems. We plan to capitalize on these shifts in the market,” said Managing Director Sheila Bale of Cushman & Wakefield.