Month: February 2021

RadNet Leases Significant New Space in Phoenix at Park Central

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Nation’s Largest Radiology Firm Signs Long-Term Lease for 24,000 Square Foot Space

In Park Central’s Strauss Building; Adds to Medical and Tech Presence in Project

PHOENIX (February 8, 2021) – The largest provider of outpatient imaging services in the United States is significantly expanding its presence in Arizona through a new lease at Park Central in Phoenix.

RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services, has signed a new lease for a 24,000-square-foot space in the Strauss Building at Park Central. The new space is part of an ongoing commitment by RadNet and its partner Dignity Health, which is part of CommonSpirit Health, to provide high-quality imaging services to targeted medical communities and patient populations.

RadNet, through Dignity Health – Arizona Diagnostic Radiology, will provide a full-service imaging clinic including MRI, CT, Nuclear Imaging and Mammography at the Park Central location, meeting a key need for the local medical community.

Norman Hames, President and Chief Operating Officer with RadNet said that the Park Central location in the emerging medical hub of central Phoenix is an ideal fit for the company’s new center of excellence.

“Park Central is becoming known as one of the most important intersections in the medical and technology fields in the region, and it is the perfect spot for this new comprehensive imaging center,” Hames said. “We look forward to enjoying the synergies we will experience with medical partners in the area such as Dignity Health and many more.”

Sharon Harper, Chairman and CEO of Plaza Companies, one of the co-developers of Park Central, said RadNet’s presence at Park Central will further strengthen the healthcare profile of the property while providing new access for patients in central Phoenix to access key services.

“We are very pleased to welcome RadNet to Park Central and look forward to seeing how RadNet will grow and thrive as part of this vital mixed-use environment,” Harper said. “RadNet has significant plans to grow its presence in Arizona and this new facility at Park Central will enhance that presence while providing another important healthcare amenity for the region.”

Plaza Companies and Tucson’s Holualoa Companies have teamed up to redevelop Park Central into a vibrant destination, which once was the city’s first official large-scale shopping mall. The companies have transitioned the expansive space from a retail center to an almost 500,000-square-foot bustling community hub ideal for playing, working, congregating and celebrating the arts.

Stan Shafer, Chief Operating Officer for Holualoa Companies, said RadNet will become an important part of the Park Central project, which already serves as home to such high-profile medical entities as Dignity Health, DMG Medical Group, Creighton University’s Health Sciences Campus and West Coast Ultrasound Institute.

“RadNet is another great example of how Park Central is creating a substantial impact on healthcare in the region,” he said. “And it shows how Park Central is emerging as a key factor in creating a healthcare ecosystem in central Phoenix that features some of the finest providers and organizations in the country.”

For office leasing, tenants and brokers can reach out to Andrew Cheney with Lee & Associates (602.954.3769) or Bill Cook with Plaza Companies (623.344.4526).  For Retail leasing contacts are Brent Mallonee with Cushman and Wakefield (602.224.4437) or Margaret Lloyd with Plaza Companies (623.344.4558).

ABOUT PARK CENTRAL

The new Park Central includes 450,000 square feet of Class A low-rise creative office space available for lease with the ability to accommodate tenants ranging from 3,500 square feet to more than 100,000 square feet in size. It features exclusive tenant patios, on-site restaurants and amenities, a stunning mid-century modern design, 15-25 foot ceilings, extensive bike paths and light rail access and ample parking. For more information on the project, visit www.parkcentralphoenix.com.

ABOUT RADNET, INC.

RadNet, Inc. is the leading national provider of freestanding, fixed-site diagnostic imaging services in the United States based on the number of locations and annual imaging revenue. RadNet has a network of 334 owned and/or operated outpatient imaging centers. RadNet’s core markets include California, Maryland, Delaware, New Jersey, Arizona, and New York. In addition, RadNet provides radiology information technology solutions and other related products and services to customers in the diagnostic imaging industry. Together with affiliated radiologists, and inclusive of full-time and per diem employees and technicians, RadNet has approximately 8,600 employees.

For more information, visit www.radnet.com.

ABOUT DIGNITY HEALTH IN ARIZONA

Dignity Health in Arizona includes six acute care hospitals: Chandler Regional Medical Center, Mercy Gilbert Medical Center, St. Joseph’s Hospital and Medical Center, which includes Barrow Neurological Institute, St. Joseph’s Westgate Hospital, Arizona General Hospital Laveen and Arizona General Hospital Mesa. From this foundation, Dignity Health in Arizona has expanded into a comprehensive health care system, which includes clinics, specialty hospitals, urgent cares, insurance providers, an accountable care organization and other clinical partnerships. The Dignity Health Medical Group includes hundreds of physicians in Arizona and a wide range of specialties. Dignity Health in Arizona is part of CommonSpirit Health, one of the nation’s largest health care systems.

Central and Downtown Phoenix Emerging as One of Arizona’s Largest Higher Education Hubs

Thousands of Students Converge on Central City to Study Variety of Disciplines; Park Central Includes Two of Newest Educational Opportunities
PHOENIX (January 27, 2021) – When most people think of Arizona college towns, it’s Tempe, Tucson and Flagstaff that pop to mind.

But in central and downtown Phoenix, a critical mass of higher education is taking place that is making the area one of the largest hubs of higher education in the state. Almost 15,000 students will study in central or downtown Phoenix in the 2021 school year as part of a half-dozen educational institutions.

And, many of the programs offered in the central Phoenix corridor are elite, specialty programs that are meeting critical needs for Arizona’s economy and providing the skilled workforce for thousands of high-paying jobs. 

“Higher education is a significant part of the transformation happening in central and downtown Phoenix,” said Chris Camacho, President & CEO of the Greater Phoenix Economic Council. “Educating the workforce needed to meet the demands of future industry is critical to the success of Greater Phoenix and contributes to our region’s value proposition as we recruit employers seeking qualified talent ready to succeed.”

Park Central in midtown Phoenix is home to two significant entries into the educational hub.

  • Creighton University’s new $100 million Health Sciences Campus will open for students in fall 2021, and will provide more than 900 students with an education in medicine, nursing, occupational therapy, physical therapy and pharmacy. Creighton’s medical and nursing programs are consistently ranked among the best in the country. The university has been training medical and nursing students in Phoenix for more than a decade.
  • West Coast Ultrasound Institute’s School of Imaging and Nursing at Park Central opened in the summer of 2020 and offers programs for 400 students.

Other institutions include:

  • Arizona State University’s (ASU) downtown campus has more than 11,000 students enrolled in elite programs such as journalism, healthcare and law.
  • The University of Arizona College of Medicine facility in downtown Phoenix provides 25 different healthcare graduate programs to more than 750 enrolled students.
  • The Northern Arizona University Biomedical Campus, a partnership with UArizona, is located on a 30-acre medical and bioscience campus with more than 250 students on site.
  • ASU will open a new facility for the Thunderbird School of Global Management in fall 2021, where the top-ranked master’s program will educate more than 325 enrolled students.

The influx particularly in healthcare education is significant. Phoenix was in need for more medical school opportunities, despite the area’s expansive healthcare infrastructure. The additional educational opportunities create partnerships between the universities, public sector and private sector to improve healthcare, research, technology and several other key industries.

Sharon Harper, Chairman and CEO of Plaza Companies, one of the co-developers of Park Central, said the influx of education creates significant synergies with other successful industries in the area, specifically healthcare and tech.

“Central Phoenix is benefitting from an influx of excellence in several key industries, and the presence of some of the finest educational institutions in the country is an important part of it,” Harper said. “It is these fine educational institutions that attract, train, and retain the talented physicians and workforce that will ultimately grow and enhance the healthcare and technology industries and services in our State.”

Plaza Companies and Tucson’s Holualoa Companies have teamed up to redevelop Park Central into a vibrant destination, which once was the city’s first official large-scale shopping mall. The companies have transitioned the expansive space from a retail center to an almost 500,000-square-foot bustling community hub ideal for playing, working, congregating and celebrating the arts.

Stan Shafer, Chief Operating Officer for Holualoa Companies, said the presence of so many high-quality institutions of learning make the entire region more attractive for business while providing significant educational opportunities for Arizona residents.

“Quality higher education institutions are a key component in successful cities,” he said. “Central Phoenix is showing itself to be an ideal location for education and is enjoying the many benefits provided by having some of the country’s finest universities and educational institutions as part of its fabric.”

For office leasing, tenants and brokers reach out to Andrew Cheney with Lee & Associates (602.954.3769) or Bill Cook with Plaza Companies (623.344.4526).  For retail leasing contact Brent Mallonee with Cushman and Wakefield (602.224.4437) or Margaret Lloyd with Plaza Companies (623.344.4558).

About Park Central

The new Park Central includes 450,000 square feet of Class A low-rise creative office space available for lease with the ability to accommodate tenants ranging from 3,500 square feet to more than 100,000 square feet in size. It features exclusive tenant patios, on-site restaurants and amenities, a stunning mid-century modern design, 15-25 foot ceilings, extensive bike paths and light rail access and ample parking. For more information on the project, visit www.parkcentralphoenix.com.

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