Tag Archives: Loop 101

TEN Aerial

JLL sells $300M mixed-use business park in Phoenix

The Phoenix office of JLL has completed a land deal that assembles 215 acres at I-10 and 83rd Avenue in Phoenix for TEN – a mega $300 million mixed-use business park. When complete, the project will become the largest freeway industrial employment site in Phoenix.

Irwin Pasternack serves as the property owner, architect and developer. JLL Managing Directors Anthony Lydon and Marc Hertzberg represented Pasternack in the land purchase and serve as the project’s exclusive leasing brokers.

The team expects to have at least one major, million-plus-square-foot industrial building under construction within the next 12 months.

“This is absolutely the best location for an Arizona industrial project,” said Pasternack. “It has premier freeway frontage at the intersections of Interstate 10 and the Loop 101, is on route from the docks in California to the rest of the country, enjoys tremendous corporate neighbors and a massive footprint large enough to handle any corporate need in the marketplace. We will compliment that development with retail services such as gas, food and neighborhood retail, to create a full-service offering and a great place to work for companies and their employees.”

“The promotion of TEN is focused on high end, pre-leased build-to-suits on behalf of national and international companies,” added Lydon. “Corporate design/build demand continues to drive the Phoenix industrial market. In fact, we’re currently tracking eight to 10 million square feet of employment development that has sustained interest in Arizona for their location solutions.”

Located near the confluence of I-10 and the Loop 101, TEN offers significant building opportunities. The master plan for the shovel-ready freeway site includes retail/commercial services along 83rd Avenue and modern build-to-suit industrial solutions scalable to 1.5 million square feet. TEN enjoys direct access to the 1.5 million-person West Valley workforce and corporate neighbors including Amazon, Cardinal Health and PetSmart. It also offers Foreign Trade Zone capability, reducing both real and equipment taxes by 72 percent.

“Phoenix’s long-term economic health depends in part on its ability to attract, accommodate and retain industry as part of a balanced and diversified economy,” said Phoenix District 7 Councilman Michael Nowakowski. “This assemblage of land, with its high visibility and accessibility, is perfect for attracting new businesses that will be able to operate efficiently and profitably.”

Active in the market since the mid 1970s, one of Pasternack’s most recent project is the 450,000-square-foot Living Spaces industrial build-to-suit at 67th Avenue and I-10.

“TEN will deliver a similar inventory – buildings of 500,000 square feet and up with modern, state-of-the-art amenities,” said Hertzberg. “We are early in Phoenix’s industrial rebound, but it is happening. The time is right to bring this site to market.”

Sun Health

Dignity names new West Valley hospital

Dignity Health announced that “St. Joseph’s Westgate Medical Center” will be the name of its new West Valley hospital during an official groundbreaking at the planned 35-acre medical campus near the Loop 101 and Glendale Avenue.

The $44 million Dignity Health facility is scheduled to open in early 2014 and will provide West Valley residents with a new alternative to receive high quality healthcare services. Dignity Health already operates three hospitals in the Valley including St. Joseph’s Hospital and Medical Center, which is home of the Barrow Neurological Institute in central Phoenix, and Chandler Regional and Mercy Gilbert Medical Centers. Dignity Health was previously known as Catholic Healthcare West.

When the new facility opens, the first phase will contain a 60,000 square-foot hospital that will include an emergency room, 24 inpatient beds, two operating rooms and diagnostic services. For the most complex medical cases, patients will benefit from the clinical integration with St. Joseph’s in central Phoenix. Established in 1895, St. Joseph’s today is nationally recognized for its specialty care and its expertise in treating the most complex medical cases.

“St. Joseph’s Westgate Medical Center was selected as the name of the medical campus because it builds on more than a century of healthcare in the Valley and people recognize St. Joseph’s as a beacon of quality care,” says Linda Hunt, Dignity Health Arizona President and CEO. “We intend to deliver that same excellence to the residents of the West Valley.”

The hospital will initially employ 200 staff and will have the capacity to expand to 200 inpatient beds as demand grows. The 35-acre medical campus will house community physicians and outpatient partners, giving patients one location for their healthcare needs.

“St. Joseph’s Westgate Medical Center will be a vibrant medical campus right in the heart of the West Valley,” says Gregg Davis, President of St. Joseph’s Westgate Medical Center. “The campus is designed to be a model for the nation’s changing healthcare environment and will change as medicine and the community evolve.”

The campus will serve as a collaborative venture in partnership with physicians in the West Valley to enhance and better manage the delivery of healthcare to patients in the area.

“This is a great project for the City of Glendale as the Loop 101 corridor near Glendale’s Sports and Entertainment District is one of the city’s key economic focus areas,” says Glendale Mayor Jerry Weiers. “The new hospital will not only expand development west of the freeway, it will also attract other healthcare-related businesses and jobs to the area.”

While this is the first Dignity Health hospital in the West Valley, the organization began to lay the business foundation of its launch several years ago. Today, Dignity Health operates a family practice clinic and an orthopedic clinic in Peoria, imaging centers throughout the area, an outpatient surgery center and a partnership with the Minute Clinics located in the CVS pharmacies in Glendale and Goodyear.