A group of healthcare physician investors in Phoenix, Ariz., have purchased Thunderbird Plaza and plan to convert the buildings into a medical office and surgery space, according to a Phoenix Business Journal report.
Arizona Integrated Physicians, an organization comprised of more than 700 physicians, and multiple physician investors bought the facility in March for $2.5 million. They have since started a $7.5 million renovation project of the 55,000-square-foot building.
The makeover should be completed by the end of 2012, according to the report. The physicians also hope the new medical facility will meet the needs of an area that, according to their market research, has a shortage of premium medical space.
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Arizona Integrated Physicians, an organization comprised of more than 700 physicians, and multiple physician investors bought the facility in March for $2.5 million. They have since started a $7.5 million renovation project of the 55,000-square-foot building.
The makeover should be completed by the end of 2012, according to the report. The physicians also hope the new medical facility will meet the needs of an area that, according to their market research, has a shortage of premium medical space.
Related Articles on Surgery Center Transactions & Valuation:
South Carolina's Providence Hospital Cites Shift to Outpatient Care in Cutting 60 Jobs
Center for Advanced Eye Care Opens Expanded Building
Sentara Announces Lake Ridge Ambulatory Surgery Center