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Oct. 18, 2012

CareMore Medical to Open Fourth Medical Facility in Tucson

By Camelia Bulea, Associate Editor

CareMore Medical Enterprises announced plans to open its fourth medical facility in Tucson near the Carondelet Heart & Vascular Institute. The new facility will occupy a vacant retail space at 4881 N. Stone Avenue, a former Cost Plus retail center, according to Inside Tucson Business. The building’s landlord is Brixmor Property Group of New York City.

Cerritos, California-based CareMore Medical, which provides healthcare services to senior patients, operates in Arizona, California, Nevada, New York and Virginia. The company also offers personalized health planning and medical supervision.

The landlord of the 18,229-square-foot facility at Northmall Center was represented by Nancy McClure, first vice president with CBRE, in this transaction. Retail health clinics and urgent care facilities are active in the local market, according to McClure as quoted by the Inside Tucson Business. Additionally, facilities such as the ones CareMore operates in Tucson are welcome in a market affected by the lack of hospital emergency rooms, reports the Tucson publication.

In other news, three large industrial properties are expected to close by the end of this year in Tucson. Currently in escrow, the properties total 365,980 square feet of industrial space. According to Inside Tucson Business, the three properties are:

  • A 261,000 square-foot manufacturing/warehouse property at 6700 S. Pella Drive
  • An 85,000 square-foot call center at 3350 E. Valencia Road
  • A 19,980 square-foot manufacturing building at 6393 S. Campbell Ave.

If all three sales are completed in the last quarter of 2012, the transactions will more than double the industrial space absorbed in the first three quarters of this year. According to a CBRE report, the Tucson market recorded 329,079 square feet of positive absorption year-to-date.

Chart courtesy of CBRE

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