As community gathering points like new restaurants and an urban park come together in Tempe's Novus Innovation Corridor, more professional uses and senior housing could be around the corner.
Charley Freericks, senior vice president of Catellus Development Corp., which is the master developer of the 355-acre mixed-use Novus Innovation Corridor adjacent to Arizona State University, said his firm is in negotiations to bring a pair of medical office buildings of at least 100,000 square feet, a senior housing community and a parking structure, which is being referred to as"Parcel 4A.
Users and operators aren't currently known, though Freericks said an announcement could come over the coming months. "Medical office in this submarket — there's a shortage and tenant interest," Freericks said."We can have everybody in there from a pharmacy to an imaging group, to a doctor's group, to a feeder clinic for one of the health care systems."
The medical office market had a strong start to the year in the Phoenix metro as several buildings reached pre-leasing milestones before construction was even complete. The demand has led to a jump in asking rental rates.
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