Harbor Vista Medical Commons

Details

Peoria, Arizona
60,000 SF

 

Responsibility

  • Development & Ownership
  • Leasing
  • Project Management
  • Property Management

 

Value Added

Purchase Date: January | 2015
Purchase Price: $15.6 million
Equity: $1.2 million
Sale Price: $20 million
Sale Date: October | 2016

  • Demand driven site identification
  • Investment grade credit and long-term lease

While conceptualizing the surplus of functionally obsolete medical office space in the service area, along with the lack of large blocks of contiguous space that are commonly sought after by healthcare groups today, Irgens recognized the viability of the land site and secured a long-term tenant before conceptualizing the development.


Harbor Vista Medical Commons is a Class A office building on an 8.63 acre site in Peoria, Arizona. The medical office building is a two-story facility consisting of approximately 60,000 rentable square feet. The project is 100% leased to Cigna Healthcare of Arizona, Inc., a global health service company. The development team delivered the facility fully supporting Cigna’s objective to deliver multi-specialty care through advanced medical technologies invested in fixtures and equipment.