Irgens Plans Medical Office Building in Peoria
- Mar 16, 2015
Commercial real estate solutions firm Irgens announced the development of a new, 60,000-square-foot medical office building in Peoria, AZ.
By Liviu Oltean, Associate EditorIrgens plans to break ground in June on a 60,000-square-foot medical office building in Peoria. The Cigna Medical Group, one of the Valley’s largest multi-specialty group practices, will fully occupy the facility. Along with office space, Irgens will develop a new urgent care center, a seniors’ activities area and a community garden. The facility will rise on an 8.7-acre site at the southeast corner of 91st Avenue. and Thunderbird Road, half a mile west of State Route 101. Completion is slated for November 2016. “The new Cigna Medical Group Sun City Multi-Specialty Health Care Center will be a state-of-the-art facility designed from the ground up with a particular focus on our senior customers’ needs,” said Edward Kim, Cigna’s president & general manager in Arizona, in a statement. Cigna was represented in the transaction by Jim Bayless of CBRE Group Inc. He noted that the deal is indicative of the Northwest Phoenix market, where a lack of speculative development and of contiguous office and medical office space is increasingly pushing investors toward build-to-suit opportunities. Rendering Courtesy of Irgens and Cigna