Ryan Cos. Breaks Ground on Phoenix-Area MOB

Rendering of One Scottsdale Medical. Image courtesy of Ryan Cos.

Ryan Cos. has broken ground on One Scottsdale Medical, a 101,136-rentable-square-foot medical office building in Scottsdale, Ariz. The facility has a completion date set for the third quarter of 2024.

The company purchased the development site in July 2022 from One Scottsdale Core for $8.8 million, according to Maricopa County records. Cushman & Wakefield represented the seller in the transaction.

The medical facility will be part of One Scottsdale, a 120-acre mixed-use development that will include up to 2.9 million square feet of retail, restaurants, office, hospitality and residential space.

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Upon completion, the two-story Class A building will feature 16-foot floor-to-floor heights, a main lobby entrance and two covered drop-off and pick-up canopies. The property is already 80 percent preleased to City of Hope and Exalt Health.

City of Hope, a cancer and diabetes research and treatment organization, will be occupying 30,000 square feet. Exalt Health, which offers post-acute care rehabilitation services, has leased the other 50,000 square feet. JLL Vice Presidents Mari Lederman and Katie McIntyre are the project’s exclusive leasing brokers.

One Scottsdale Medical is taking shape at 20159 N. Scottsdale Road, near Loop 101, some 25 miles from downtown Phoenix. The facility will be situated directly across from HonorHealth Thompson Peak Medical Center in Scottsdale’s Healthcare Corridor, which includes medical providers such as Mayo Clinic Hospital and Banner Health North Scottsdale hospital campus.

Ryan Cos.’ other health-care real estate projects

Ryan Cos. has four other medical office buildings planned or in the prospective stages, CommercialEdge data shows. When complete, the properties will bring the company’s health-care real estate footprint to more than 1 million square feet.

This spring, Ryan Cos. and Henrich Partners, together with landowners Belfonti Cos. and A. Secondino & Son Inc., joined forces to develop a 500,000-square-foot medical and life science campus in Branford, Conn. The company also completed a 60,000-square-foot health-care facility in St. Paul, Minn., that is part of the 122-acre Highland Bridge mixed-use development.