The Phoenix Property, constructed in late 2017, is a 29,350 square-foot class A, single-story medical office building located in Phoenix, Arizona. The tenant at the Phoenix Property is Banner Medical Group, an Arizona not-for-profit corporation. Banner Health, an Arizona not-for-profit corporation, has provided a guaranty of the tenant’s obligations under its Commercial Lease. Banner Health is the largest private employer in Arizona, employing over 50,000 people and offering 28 hospitals system-wide. Phoenix is Banner Health’s headquarters, but Banner Health also provides medical service to five other states – Nevada, California, Nebraska, Colorado and Wyoming.
Banner Health operates hospitals, clinics, nursing homes, clinical laboratories, ambulatory surgical centers and home health agencies. Some featured services include pediatrics, orthopedics, maternity, Alzheimer’s and cancer. Banner Health has been nationally recognized for its commitment to excellent patient care and innovation. In 2016, Banner Health and Aetna Health Insurance Company created a jointly owned health insurance company offering employer-based insurance in Arizona. The joint venture, known as “Banner|Aetna,” features Banner Health’s network of doctors, health centers, clinics and hospitals, and also includes access to Honor Health’s network.