CBRE completed a 69,251 SF lease at Union Hills Corporate Center, a four-story office building at 18444 N. 25th Ave. in Phoenix. The CORE Institute will relocate and expand its headquarters when the company moves into its new office space in October 2013.
Ashley Brooks, Jim Bayless and Jenny Aust of CBRE’s Phoenix office represented the local landlord partner, G2 Capital of Scottsdale in negotiating the 15-year lease. The tenant was represented by Lynn Harle of Physicians Real Estate Solutions LLC in Phoenix. The exact financial terms of the transaction were not disclosed.
“This is a win-win for everyone involved,” Brooks said. “G2 Capital has a solid, long-term tenant anchoring its building, and The CORE Institute, which had outgrown their current facility, can now reposition their headquarters and expand their services to more patients in the metro area.”
James Greaves, president of G2 Capital added, “We are very excited to welcome The CORE Institute to Union Hills Corporate Center and proud that they have chosen our development in which to expand their business.”
The CORE Institute opened its first clinic in 2005 in Sun City West, growing to provide comprehensive orthopedic services to more than 36,000 new patients in 2012. The company currently employs more than 350 employees in Arizona, has a staff of nearly 200 at its North Phoenix locations and will have capacity to add employees as it continues to grow. The new facility will house its clinical areas, physical therapy center, training facility, lab space and executive offices.
“The CORE Institute is excited we have reached this milestone of expansion,” said Arizona Market President, Dr. Bryan Wall. “Combining the clinical expertise will allow us to create a Center of Excellence, helping us achieve our future vision of continued growth and better serving those in need of our orthopedic services.”
Union Hills Corporate Center is located at a full diamond interchange on the SEC of Interstate 17 and Union Hills Dr. and one mile south of the Loop 101 freeway interchange. Its proximity to Interstate 17 and the Loop 101 offer tenants access to the Northwest Valley labor market and an abundant supply of amenities in the neighboring residential areas.