X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MORENO VALLEY, CA-Aardex Corp. plans a 130,000-sf medical center here and says it has already signed surgical care specialist Innovative Healthcare Management as the anchor tenant for the seven-building, $40-million development. The project, called Moreno Valley Medical Center, will take shape on a 10.7-acre site at Alessandro Boulevard and Elsworth Street.

Aardex expects to break ground on the development in January and to have the center open by the fall of 2006. Rick Butler, Aardex CEO, says that Los Angeles-based Innovative Healthcare Management has signed a for 13,000 sf at the class A campus, which is targeting a range of medical specialists as tenants for both sales and leases at the center.

According to Butler, general practitioners, orthopedics, internists, surgeons, critical care physicians, pharmacists, imaging specialists and ophthalmologists are in various stages of buying space that will be custom-designed for their individual practices. The buildings are expected to sell for prices ranging from about $175 per sf to $185 per sf.

When the Moreno Valley Medical Center is complete, Aardex expects to have about 22 to 26 medical specialists as occupants at the project, which is near the Moreno Valley City Hall and the new Moreno Valley recreation center, close to the 215 and the 60 freeways. It is one of many multi-tenant medical and medical condo projects now under way in the Inland Empire, where a growing population has pushed the demand for medical services.

The seven medical office buildings will include six that will be single-story and one that will comprise 53,200 sf in two stories. The buildings will be designed with features including energy saving systems, natural daylight and secure lab pick-up areas. Aardex will design, build, broker and manage the property, with Pasadena-based Stephen Wen + Associates as architect.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.