5501 N. 19th Avenue, Phoenix, Arizona

Highlights

Parkwood Professional Plaza is a four-story medical office building featuring underground parking and numerous other amenities. Parkwood was built in 1986 and was purchased in 1989 from Security Savings in Phoenix, after the property had been taken back from the builder. When we purchased this development, it was in need of significantly deferred maintenance. Because of the deteriorating conditions, several major tenants were either moving or on the verge of moving and occupancy was 45%. We have made substantial building improvements as well as

tenant improvements since acquiring this property. Because of these positive changes, occupancy is presently at 90% and the property is running smoothly.