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Buckeye Medical Plaza. Image courtesy of Hammes
Hammes Partners has broken ground on Buckeye Medical Plaza, a 48,000-square-foot medical office building in Buckeye, Ariz. The project is slated for delivery in early 2024.
The developer acquired the 4.2-acre development site last year in October. Wilson Property Services Inc. sold the parcel for $4 million.
When complete, the two-story building will be home to a mix of tenants of various specialties, including physical therapy, internal medicine, primary and multispecialty care, imaging, obstetrics and gynecology, specialized pediatric services and lab.
Hammes Partners has a total footprint of nearly 2.2 million square feet in health-care real estate assets, CommercialEdge data shows. The firm recently expanded its portfolio with the acquisition of six medical office buildings in Chicago.
Medical office developments in Phoenix
Buckeye Medical Plaza is taking shape at the southeast corner of Watson Road and Sundance Parkway near Interstate 10, some 30 miles from downtown Phoenix. The property will be near other planned health-care developments such as Abrazo Medical Hospital and Banner Buckeye Hospital. Medical service providers in the surrounding area include Buckeye Dermatology, Sundance Dental Group and Buckeye Pediatrics, among others.
Phoenix had 11 medical office buildings under construction as of April, totaling nearly 467,000 square feet, according to CommercialEdge data. Another 41 projects were in the planned and prospective stages, set to add 4.4 million square feet to the existing inventory.
Last month, Cypress West Partners broke ground on a 22,000-square-foot medical office building in Queen Creek, Ariz. Completion is expected in the third quarter of 2023.
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