FOR IMMEDIATE RELEASE
Officials at the San Diego-based healthcare real estate firm say the $19 million pavilion is already 60 percent pre-leased by Carondelet Medical Group and other healthcare practices
TUCSON, Ariz., and SAN DIEGO, Nov. 6, 2019 – PMB, one of the nation’s leading real estate owners and developers across the continuum of care, announced that it has broken ground on the new Class A, 55,000-square-foot St. Mary’s Medical Pavilion on Carondelet St. Mary’s Hospital campus in Tucson.
The $19 million project on the campus of the 400-bed acute-care hospital is already 60 percent pre-leased by Carondelet Medical Group, which will anchor the building with a 23,000-square-foot multispecialty practice. Other tenants will be The Oncology Institute of Hope and Innovation and MHC (Marana Health Clinic).
Ryan Harper, COO of Carondelet St. Mary’s Hospital, notes, “The new St. Mary’s Medical Pavilion will add needed medical office space on the St. Mary’s Hospital campus. The new medical offices show a commitment to adding health provider options for the community and will increase the total square footage by 50 percent compared to the existing Century Medical Plaza.”
The new, two-story medical office building will be located adjacent to the existing 37,000-square-foot Century Medical Plaza, which PMB acquired from Healthcare Realty Trust in December 2018. Century Medical Plaza is a functionally obsolete property located at 1701 W. St. Mary’s Road in Tucson on St. Mary’s Hospital campus. When St. Mary’s Medical Pavilion is completed in July 2020, PMB will demolish the Century Medical Plaza and develop 275 surface parking spaces dedicated to servicing visitors to the new building. A number of existing Century Medical Plaza tenants will relocate into the new building upon completion.
Mark D. Toothacre, President of PMB, said, “PMB is grateful for the opportunity to improve the quality of healthcare delivery through the replacement of functionally obsolete clinic space with a new medical pavilion designed for the delivery of modern medicine, and we’re delighted to partner with Carondelet St. Mary’s Hospital to make this exciting project a reality.”
About St. Mary’s Hospital
St. Mary’s Hospital is southern Arizona’s longest continuously operating hospital founded in 1880 by the Sisters of St. Joseph of Carondelet. It is one of Tucson’s and the greater southern Arizona region’s top medical centers. The facility is recognized as a destination hospital for the most modern and minimally-invasive heart and vascular surgery, advanced stroke care, unique and personalized cancer treatment, and emergency care. For more information, please visit www.carondelet.org.
PMB is a full-service healthcare real estate development company that works with health systems, hospitals, medical groups, specialty providers and academic medical centers. PMB takes tremendous pride in its dedication to changing the way healthcare is delivered through innovative development of healthcare-related facilities. Its breadth of work includes ambulatory care centers, medical office buildings, inpatient hospitals, post-acute hospitals, senior living and parking structures. PMB has developed over 100 facilities to date representing approximately 5.5 million square feet. The firm owns and manages 66 medical facilities comprising over 4.2 million square feet. For more information, please visit www.pacificmedicalbuildings.com.
# # #
News Media Contact: Heather Williams, Director of Marketing, PMB, 858-794-1900, HWilliams@pmbllc.com
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE