First Post-Recession Medical Office Spec 

by Mike Hunter


The Arrowhead Orchards medical office development in Glendale is the first MOB spec project in the Valley since the recession. The property owner, Arrowhead Health Center, LLC, an entity affiliated with Legend Real Estate Management, Inc., has begun developing 22,700 square feet of new product.

CBRE’s Vince Femiano, who, with Katie Kelley, will be responsible for the marketing and leasing of the new building, notes, “There are a number of factors influencing current medical real estate trends. We’re currently seeing a significant lack of quality blocks of contiguous space over 5,000 square feet, and, as healthcare groups consolidate, the demand for functional larger blocks of space is increasing.”

Presently, the development consists of approximately 103,216 square feet of class A medical office space, comprised of the two, two-story buildings.

Speak Your Mind

In Business Dailies

Sign up for a complimentary year of In Business Dailies with a bonus Digital Subscription of In Business Magazine delivered to your inbox each month!

  • Get the day’s Top Stories
  • Relevant In-depth Articles
  • Daily Offers
  • Coming Events