Building is 80% preleased with City of Hope Phoenix and Exalt Health as anchor tenants
SCOTTSDALE, Ariz. (June 28, 2023) – Construction of a Class A, multi-tenant medical office building is underway at One Scottsdale. Ryan Companies US, Inc. is developing, designing, and building One Scottsdale Medical, which will be located near the Loop 101 freeway, at Scottsdale Road and Thompson Peak Parkway. The two-story 101,136-rentable-square-foot building is 80% preleased with two national health systems, City of Hope and Exalt Health as the anchor tenants. The remaining 20,000 square feet is available for lease on the ground floor for additional medical tenants.
“With continued population growth occurring in the North Scottsdale market and additional medical projects slated in the area, One Scottsdale Medical will serve as a premier destination for first class healthcare,” said Jaime Northam, vice president of healthcare development, Ryan Companies. “The project’s accessibility and proximity to the additional amenities of One Scottsdale will greatly benefit community members and healthcare providers.” City of Hope, one of the largest cancer research and treatment organizations in the U.S. and one of the leading research centers for diabetes and other life-threatening illnesses, will occupy approximately 30,000 rentable square feet on the first floor. The new Scottsdale location will expand City of Hope’s footprint in Arizona, joining City of Hope Phoenix, a comprehensive cancer hospital in Goodyear; outpatient care clinics in North Phoenix and Gilbert; and the Translational Genomics Research Institute (TGen), a Phoenix-based affiliate of City of Hope and nonprofit medical research institute dedicated to conducting groundbreaking research with life-changing results.
“As a budding medical hub, Scottsdale is full of opportunity – for patients and healthcare professionals,” said Dr. Kevin Tulipana, president, City of Hope Phoenix. “As part of this landscape, we are excited to advance our mission to connect more patients, families and communities to leading-edge research, treatment and care.” Additionally, Exalt Health, based in Texas, will occupy approximately 50,000 square feet, and will be located on the second floor. Exalt Health will offer post-acute care rehabilitation services.
One Scottsdale Medical is located immediately north of the Loop 101 and is surrounded by three area hospitals, including HonorHealth Scottsdale Thompson Peak Medical Center, which is located across the street from the building. It will also have quick access to other features of One Scottsdale including retail, restaurants, a hotel, and residential developments. The building will include unique design elements such as 16’ floor-to-floor heights, a grand main lobby entrance, and two covered drop-off/pick-up canopies.
One Scottsdale Medical is expected to be completed by Q3 2024. Mari Lederman and Katie McIntyre from the Phoenix office of JLL are the project’s exclusive leasing brokers.
One Scottsdale is a 120-acre mixed-use development located in Scottsdale, Ariz. The development will include 2.86 million square feet of space for commercial tenants, 2,000 residential units, and 400 hotel rooms. Ryan Companies recently acquired the land from One Scottsdale Core, which was represented in the transaction by Brad Anderson and Mike Strittmatter with Cushman & Wakefield.
About Ryan Companies
Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, designer, builder, capital markets advisor and real estate manager with a focus on creating places for people to thrive. Ryan work spans a wide range of sectors and product types including healthcare, hospitality, industrial, mixed-use, multifamily, office, retail, and senior living. Built on the foundation of integrity, honesty and community, Ryan has grown to nearly 2,000 team members in 17 offices and has completed projects in nearly every state. For more information, visit ryancompanies.com.
About Exalt Health
Exalt Health is headquartered in Garland, Texas. Backed by Nautic Partners and the founding management team, Exalt Health was formed to build a best in class inpatient rehabilitation platform that consistently delivers industry leading patient outcomes via a proven operational playbook based on efficiency and flexibility. Exalt Health facilities are designed to treat patients with complex physical and cognitive problems. Our facility operates a full range of inpatient programs delivered by a multidisciplinary team of highly trained professionals. Our facilities are accredited by CIHQ.
Our all-inclusive, state-of-the-art rehabilitation facility offers a complete spectrum of adult focused treatment programs to assist in regaining functional independence following a major illness, orthopedic surgery, stroke, trauma, decline in mobility or other medical complications. Exalt Health understands the importance of both the emotional and physical aspects of recovery. Exalt Health’s management and clinical teams have extensive experience with inpatient rehabilitation and healthcare operations, focused on developing and operating post-acute facilities that offer excellent outcomes and outstanding patient satisfaction.
About One Scottsdale
One Scottsdale is situated at the premier intersection of the Loop 101 and Scottsdale Road and extends north to Thompson Peak Parkway. One Scottsdale will feature retail, restaurants, Class A-office space, hospitality and residential. The property is a joint development partnership between DMB Associates, the Corrigan Family and Macerich.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In 2022, the firm reported revenue of $10.1 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more. For additional information, visit www.cushmanwakefield.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
