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.

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