Don Arones, senior vice president with the Phoenix office of Grubb & Ellis Co., represented the tenant, which has several locations in Arizona. Physiotherapy Associates is a Memphis-based a rehabilitative care business. Its services roster includes occupational therapy, speech pathology and physical therapy.
Arones tells GlobeSt.com that one of the main reasons the building was selected it the inbound tenant's close association with a surgical group, also a tenant in the building. Arones says the two firms considered signing a joint lease, but then decided to remain in separate offices. Physiotherapy Associates also liked the upscale atmosphere at the Biltmore Medical Mall.
Arones and Stormy Basha, also a G&E senior vice president, brokered the deal. Arones would not disclose the value of the lease.
Biltmore Investors LP, the owner of record, was represented by Julie Johnson of the Phoenix office of CB Richard Ellis Inc. The 160,000-sf building's occupancy is riding in the mid-90% range, according to Arones.
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