PMB has acquired a three-story, 49,685 square foot medical office building (MOB) located on the campus of Abrazo Arrowhead Hospital in Glendale, Arizona.
Arrowhead Physicians Plaza is located adjacent to the Hospital and is physically connected to the Hospital on two floors. PMB acquired the building from Phoenix-based JAB Properties LLC. The building was constructed in 2003 and is home to several long-term tenants that enjoy the connectivity to the hospital along with a parking structure conveniently located directly behind the MOB.
“We are pleased to announce our purchase of Arrowhead Physicians Plaza and to play a role in the future of this great hospital. The sellers, the Ferrari family, were great to work with and professional in every aspect of our negotiations,” said Mark Toothacre, President of PMB.
The sale was arranged by Kate Morris and Vince Femiano, part of the CBRE healthcare team located in Phoenix. “Arrowhead Physicians Plaza is a perfect example of a successful on-campus medical office building,” said CBRE’s Kate Morris.
About Pacific Medical Buildings (PMB) is an integrated medical office building developer, investor and a healthcare real estate partner for health systems, hospitals, medical groups, and universities. It specializes in developing, leasing, and managing medical office buildings, ambulatory care centers, clinics, academic medical facilities, and parking structures. For more than 40 years, PMB’s executives have led the industry in the development and management of medical care buildings, with 86 medical projects constructed to date. The firm currently owns and manages 52 facilities totaling more than 3.25 million square feet with more than 7,000 structured parking stalls, and has numerous other projects under development. The San Diego-based company also has offices in Austin, Chicago, Las Vegas, Los Angeles, Nashville, Orange, Phoenix, Portland, San Francisco and Vancouver.