Investment firm celebrates Mesa purchase, announces acquisition of Phoenix medical office

PHOENIX — The company behind renovations of a two-story office in Mesa is touting its recent achievements and future plans.

It’s called Twelve 34 South Power, and it’s owned by The Streamline Companies, an investment business that bought the building at 1234 S. Power Road in February.

The office building near Southern Avenue and Power Road is 18,000 square feet.

Company leaders, along with investors, tenants and ambassadors with the Mesa Chamber of Commerce celebrated the building’s grand opening earlier this month.

During the ceremony, The Streamline Companies announced it is working to purchase a new office building in Phoenix.

What does Twelve 34 South Power have to offer?

It consists of 13 office suites, including The Streamline Companies’ own office.

So far, it’s 93% occupied, with multiple tenants, including:

• A urological practice.
• Two counseling services.
• A financial service.
• An insurance company.
• A yoga office and studio.

The company spent $2.8 million on the building, rebranded it as Twelve 34 South Power and spearheaded several improvements.

What did The Streamline Companies change about Mesa office building?

After buying the building earlier this year, the company repaved the entire parking lot and put up a new monument sign.

The Mesa building also added sustainable xeriscape landscaping, which is known for helping save water, according to The Streamline Companies CEO David Hrizak.

“We were the first recipients from the city of Mesa for its xeriscape landscaping program,” Hrizak said in a news release. “We’re making a commitment to be here not just for today but for many years to come.”

What about the Phoenix building?

Hrizak said his company is under contract to buy a four-story medical office building called Parkwood Professional Plaza, which is in Phoenix.

The 73,532-square-foot building will be rebranded once the purchase is complete. It is less than a mile from the Abrazo Central Medical Campus.

“After the acquisition, Parkwood Professional Plaza will be rebranded to Uptown Medical Center,” Hrizak said in the release.

His company will then invest $1 million on tenant improvements and modernization.

“We believe the combination of its prime location and favorable local demographics positions it perfectly for long-term use as a medical office building,” Hrizak said.