MESA, AZ-Less than a year after acquiring the 36,127-square-foot Baywood Health Center and the 25,277-square-foot Broadway Health Center, Archway Holdings Corp. of Beverly Hills, CA has commenced renovations to the two, two-story medical office buildings. Improvements, will include a complete exterior redesign and renovation to interior lobbies, common areas, and new signage, and are scheduled to be completed in March, 2013.
Baywood Health Center is at 6553 E. Baywood Ave. and Broadway Health Center is at 6550 E. Broadway Road. The properties are 83 percent and 19 percent leased, respectively.
The assets are directly across the street from Banner Baywood Medical Center, a 342-bed hospital providing complete acute care services to the growing East Valley communities of Mesa, Gilbert, Apache Junction, Queen Creek, Fountain Hills and areas of northeastern Pinal County. The assets are also close to Leisure World, the largest retirement community in metropolitan Phoenix.
Kelley Ahrens with CBRE will handle the leasing assignment for the property owner. “In addition to repositioning the buildings into class A assets, Archway is providing tenants with generous improvement dollars to perform renovations to their individual office suites in order to keep up with the improvements to the buildings,” Ahrens says in a press release.