Mercy Medical Commons II Construction Begins

Gilbert Medical Office Building to Include The CORE Institute as Anchor Tenant

PHOENIX, ARIZ. November 8, 2018   A ceremonial ground-breaking was held today on Mercy Medical Commons II, a 56,000-square-foot medical office building located on Mercy Road across from the main entrance of Dignity Mercy Gilbert Medical Center.  MedProperties Group of Chicago is developing the project, which will house The CORE Institute (“CORE”) in 20,000 square feet.

Gathered for the ground-breaking celebration were Gilbert Vice Mayor Brigette Peterson, Philip Wurth, Executive Vice President of Colliers International, Matt Campbell of developer MedProperties Group, and Vikas Khanna, Executive Vice President of Operations with The CORE Institute.

“This project is ideally situated across the street from the East Valley’s premier hospital,” says Philip Wurth with Colliers International in Greater Phoenix, who serves as exclusive leasing agent for the property.  “The development continues to attract interest from medical providers of all types who want state-of-the-art space within walking distance of the Dignity facility.  We are optimistic that this building will lease quickly, warranting construction of a future building on the site.”

MedProperties Group is developing the three-story, Class A medical office building.  This is the company’s first ground-up development in the East Valley.  MedProperties also owns Mercy Medical Commons I in Gilbert and Thunderbird Wellness Centre, a four-building medical campus in Peoria, AZ.

Designed by Ware Malcomb, Mercy Medical Commons II will feature a 55-foot high curved, fin wall that will be integrated with steel shade canopies.  The western curved façade will gently open to the expanse of generous parking and porte-cochere arrival area.  The site will be lushly landscaped and include an outdoor courtyard with seating areas.

Balfour Beatty US will serve as general contractor for the project.  Construction of the building is expected to be finished the third quarter of 2019.

CORE will occupy 20,000 square feet on the first and second floors, which will include a Spine Center.  The institute is recognized for providing comprehensive musculoskeletal care.  CORE’s large team of fellowship trained specialists focus on orthopedic surgery, hand surgery, sports medicine, spine surgery, pain management and physical therapy.

About Colliers International Group Inc.

Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is a top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 13,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $25 billion of assets under management from the world’s most respected institutional real estate investors.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers is ranked the number one property manager in the world by Commercial Property Executive for two years in a row.

Colliers is led by an experienced leadership team with significant equity ownership and a proven record of delivering more than 20% annualized returns for shareholders, over more than 20 years.

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