Development firms could build up to 125,000 s.f. on Banner Estrella campus
By Erin E. Porter and John B. Mugford
Plaza Companies and Duke Realty plan to develop a $16 million, 70,000 square foot second medical office building on the campus of Banner Estrella Medical Center in Phoenix. Plans include an option for a future 55,000 square foot expansion. (Rendering courtesy of Plaza Companies)
For Peoria, Ariz.-based Plaza Companies, a new medical office building (MOB) planned for the campus of Banner Estrella Medical Center in Phoenix would add to its 10 million square foot portfolio of owned and managed space.
Banner Estrella Medical Plaza II would also be the second MOB that the 33-year-old firm has developed on the Banner Estrella campus; the first was the 131,000 square foot Banner Estrella Medical Plaza I, completed in 2005.
Plaza is partnering with Indianapolis-based Duke Realty Corp. (NYSE: DRE) on the development, which is scheduled to break ground in the fourth quarter (Q4) of 2015.
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