PHOENIX – A Mesa-based real estate investment firm is in the process of expanding its Valley portfolio by acquiring a Tempe medical office building.
Streamline Capital Group is under contract to purchase The Meridian, a property at 401 W. Baseline Road, the company announced Wednesday.
The investment firm plans to rebrand the office as Tempe Crossings and renovate the exterior and common interior areas.
Firm’s Tempe medical office deal follows other Valley investments
The Tempe medical office deal comes after Streamline Capital Group bought and renovated The Grand on 44th, an office building near 44th Street and Thomas Road in Phoenix, and Twelve 34 Power, a medical and professional office building near Power Road and Southern Avenue in Mesa.
The Grand on 44th is now 87% leased, including a long-term commitment from law firm Goldberg & Osborne, and Twelve 34 Power is fully leased.
“Our mission is not just about owning real estate. It’s about transforming properties, delivering reliable returns to our investors, and contributing to the economic vitality of our communities,” David Hrizak, Streamline Capital Group’s CEO, said in a press release. “The success we’ve seen in Phoenix and Mesa underscores the strength of our value-add strategy, and we’re excited to bring that same momentum to Tempe with Tempe Crossings.”
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