JLL completes 21,725 s.f. in new medical office leases at Paradise Valley building
Medical office experts in JLL’s Phoenix office have completed 21,275 square feet in new leases at the Class A Lincoln Medical Plaza, located at the southwest corner of Scottsdale Road and Lincoln Drive, within the Lincoln Plaza Retail Center in Paradise Valley, Arizona.
The newly renovated building is now 100 percent leased, with the addition of Clear Dermatology and a full second-floor lease to Paradise Valley Multi-Specialty Surgery Center.
JLL Vice Presidents Mari Lederman and Katie McIntyre represented the building owner, Jamel Greenway LLC, as well as Clear Dermatology in the lease negotiations.
Four years ago, building owner James Shough and architect Dean Munkachy of Suite 6 renovated Lincoln Plaza Retail Center. They have now extended that vision to Lincoln Medical Plaza.
“They removed the overgrown landscape and re-established Lincoln Medical Plaza with the high-end, Class A design required by modern medical users. It is a hidden gem that has been brought back to the quality and visibility it deserves,” said Lederman. “That combination quickly gained tenant interest in an exclusive area of Paradise Valley where there is very limited medical office space.”
Located at 7125 E. Lincoln Drive, Lincoln Medical Plaza totals 27,868 square feet with two, 6,143-square-foot, first-floor medical offices leased to Clear Dermatology and Benessair Health, and a 15,582-square-foot, full second-floor lease to Paradise Valley Multi-Specialty Surgery Center.
To create a contiguous second floor, architect Marwam Tamimi of Surgery Center Services enclosed a common area lobby and incorporated modern infrastructure, connectivity and air handling required for a fully licensed surgery center. This space will be supported by a gurney-size elevator, to be installed during tenant improvements.
“Surgery centers are complex to design, but by opting to strategically renovate instead of tearing down and rebuilding, this property owner was able to bring modern amenities back into Lincoln Medical Plaza while still keeping it affordable for future tenants,” said Lederman. “We were fortunate to work with an owner who has the creative vision – and an architect with the industry expertise – to bring this project to fruition.”
Lincoln Medical Plaza sits within the high-demographic, amenity-rich Paradise Valley market. It is adjacent to two grocery stores (AJs and Trader Joe’s), across the street from the future Ritz Carlton Paradise Valley, and is walkable to more than a dozen other retail, restaurant and service providers.