Irgens Announces 60,000 SF Build-to-Suit Medical Office Building for Cigna Medical Group
Phoenix – Irgens has announced the development of a 60,000 SF, two-story Class A medical office building for Cigna Medical Group in Peoria, Ariz.
“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, president and general manager for Cigna in Arizona. “We look forward to working together with Irgens to develop a facility that will enhance the health care experience for our customers today and for years to come.”
Construction of the project is scheduled to begin in June 2015 with the grand opening slated for November 2016. Located on a 8.64-acre site at the southeast corner of 91st Avenue and Thunderbird Road, the facility will be ideally located a half mile west of State Route 101. In addition to medical offices, the two-story building will feature a new urgent care center, seniors’ activities area and a community garden.
“This transaction is really indicative of the state of the market right now, particularly in Northwest Phoenix,” said Jim Bayless of CBRE, who represented Cigna in negotiating the transaction. “There is a significant lack of quality, contiguous office and medical office space in the market and spec development has yet to come back online in any meaningful way. Because of this, users like Cigna are looking to build-to-suit opportunities.”
Irgens is the developer and owner and will oversee all day-to-day operations, development, leasing, and financing of the project. Project team members include: Archicon Architecture & Interiors, LC (Architect); Boulder Associates Architects (Architect); Desert Development Engineering, LLC (Civil Engineer); TLCP Structural, Inc. (Structural Engineer) and Kraemer Consulting Engineers, PLLC (MEP Engineer). Knight Management will provide property management services.