Maui Medical Plaza Is the first to offer the latest in medical technology in a soothing, healing environment. With the majority of private doctors expressing interest in moving into the plaza, Maui Medical Plaza will be the single, privately funded medical center on Maui.
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Our goal is to create a state-of-the-art facility and maintain affordability for all medical professionals in today’s health-care economic environment. We have a target rent forecast of $4.00 per sq. ft. and an anticipated common area maintenance expense of $1.15 per sq. ft. The parking structure will be a secure, staffed, and metered 24-hour operation. The entire facility will have 24-hour private security.
Maui Medical Plaza is a 'GREEN' building
The Photovoltaic array planned for the roof of the facility can generate 100Kw – this should be enough electricity to fully supply all the electrical needs of the common areas of the facility. This will represent a substantial savings to our tenants.
Maui Medical Plaza has a new venture partner, dck Worldwide
, and is entering the leasing, financing and construction phase. Eight years after its conception and two years after obtaining all discretionary permits, the project is gathering momentum. Occupancy is projected as Summer of 2015.
Rick Allen, dck vice president for medical facilities, based in Pittsburg and working with the dck regional office in Oahu visited Maui and met with the architect, engineers and consultants with owner, Ben Brown, and initiator Dr. James Hansen in March. Now the new partner and development team is working on value engineering and presentations to investor groups.
Letters of Intent have been obtained from almost half of the available space, 108,000. Dr. Hansen and Brown are working with local medical practices and dck with the assistance of Jody Jones, a broker with experience in medical office development, are bringing tenants from off island and the mainland. Their goal is to reach 70% occupancy before July and to fill the building as soon as construction begins. Commitments have been made by physical therapy associates, pharmacy, urgent care. A group of mental health practioners are negotiating for space and we have a serious inquiry from a major pain clinic. Several local physicians have requested space.
Rents are starting at $3.33 per square foot with generous tenant improvement allowances. The building will be energy efficient so central area maintenance costs will be minimal. Parking is available on each of the six floors. Tenant improvement design will be provided by the architect upon signing of letter of interest.