Plaza Companies’ Brokerage Services Team, which expanded dramatically in 2013, ended the year with strong leasing numbers that bode well for continued momentum in 2014.
The leasing activity included a total $28M in new deals from 13 new and renewed leases comprising of almost 320,000 SF, as the commercial and medical office real estate market continued its recovery from the economic downturn.
The Brokerage Services Team was expanded in 2013 with the addition of Megan Sherwood, Perry Gabuzzi, Aaron Kuhl and Michael Morton, all of whom have a prominent presence in the Valley medical office marketplace. They joined Margaret Lloyd and Howard Schweibert of Plaza Companies in serving Plaza’s properties. The team also added Coles Hoffman and Michelle Fischer to help serve the company’s expanded portfolio.
The primary focus of Plaza’s leasing activity was medical office space, but the company also expanded its business development in commercial office, research and biotechnology and other key sectors.
The company also added several major properties to its leasing and property management portfolio, including new listings across the Valley and the addition of two large portfolios. In addition, Plaza was involved with a number of large lease deals in 2013, including:
— Children’s Medical Group at Thunderbird Wellness Centre, more than 7,000 RSF and an overall value of $1.5 million.
— Biltmore Ear, Nose and Throat, a 5,300 RSF space valued at $850,000.
— SurgiCenter of Tucson, a 6,300 RSF space with a lease value of $1.4 million.
— Banner Medical Group at Thunderbird Professional Center, a 19,000 RSF space with a lease value of $1.5 million.
— Canyon Surgery, a 20,000 RSF space valued at more than $2.1 million.
“We were very pleased with what our enhanced Brokerage Services Team was able to accomplish in 2013,” said Sharon Harper, President & CEO of Plaza Companies. “We expanded our leasing portfolio significantly over the past year while providing an exceptional level of service for both our property owners and tenants.
“We want to congratulate our Brokerage Services Team for their work throughout 2013, and we want also thank the medical and office brokers throughout the marketplace who worked with us this past year to find the right office spaces for their clients’ needs.”
Along with the leasing success, Plaza added several significant buildings to its Property Management portfolio, highlighted by the addition of LifePrint Health Center, a large Class A medical office building in north Phoenix. Some of the property management additions included:
— 333 E. Osborn, Phoenix, AZ
— 360 East Coronado, Phoenix, AZ
— Lifeprint Health Center, 20414 N. 27th Avenue, Phoenix, AZ
— Quantum Acquisitions, 5800 North 19th Avenue, Phoenix, AZ
— Surprise Professional Center, 15331 West Bell Road, Surprise, AZ
Plaza also began construction on the third office building at SkySong, The ASU Scottsdale Innovation Center, as the iconic Scottsdale project continued to grow. The new 145,000-square-foot building will open this summer. The SkySong Scottsdale Apartments also opened in 2013, with additional phases coming on line in 2014.
“We are seeing an increase in overall market activity as the economy continues to recover, and we want to be well-positioned to make the most of new opportunities moving forward,” Harper said. “The steps we took in 2014 will help ensure Plaza Companies is fully prepared for the future, and we are excited about the many exceptional partnerships, relationships and projects we are involved in as we enter the new year.”