The 42,000-sf structure at 5835 E. Still Circle is scheduled for completion in the fourth quarter. Kurt W. Rosene, senior vice president of national development with the Chicago-based developer, says the first building, also 42,000 sf, is fully leased and its twin, completed last year, is half filled. The tenant roster includes National Academy of Sports Medicine, Awhatukee Dental Lab, Arizona School of Dentistry and Oral Health and A.T. Still University.

"We have great activity on the rest of that one, which is why we're moving forward on the third one," Rosene says. The park also will be home to the 65,000-sf Mesa Specialty Hospital, which Alter Group will develop as a build-to-suit in 2009.

Rosene tells GlobeSt.com that 25 acres remain for development, confiding talks are under way with several specialty hospitals for another build-to-suit. In addition, he says there's still enough room for another speculative office building. He estimates the remainder of the park will be built out by 2010.

Jerry McCormick, a CB Richard Ellis first vice president in Phoenix, has the leasing assignment for the new building. The quote is $30 per sf, gross. Rosene says the building could be used for offices or an ambulatory surgery center, complete with a radiology or imaging component.

The entire Arizona Health & Technology Park is 130 acres at the junction of Baseline and Recker roads. Nashville-based Vanguard Health Systems Inc. owns 80 acres, where it plans to build a hospital beside Alter Group's acreage.