Solera Health Increases Downtown Phoenix Footprint

The medical tech company occupies two floors at The Monroe building in downtown Phoenix. The expansion is expected to add at least 200 new jobs.
Solera Health at The Monroe. Image courtesy of ViaWest

Solera Health has expanded its presence at The Monroe in downtown Phoenix. The integrated benefit network and medical technology company signed a lease for another 11,000 square feet with ViaWest Group, which manages the office building. Solera will now occupy 30,000 square feet across two floors.

The company moved its headquarters to 111 W. Monroe St. in April 2018, when it signed a lease for the entire third floor. Constructed in 1964, the 18-story building features 13,500-square-foot floorplans. Leases range from 1,030 square feet of divisible space up to 14,895 square feet of contiguous space. The Monroe includes 10,000 square feet of retail on the ground floor. The current owner, GEM Realty Capital, acquired the asset for $29.8 million in 2017, Yardi Matrix shows.

According to Brenda Schmidt, founder & CEO of Solera Health, the company will add at least 200 more jobs over the next months. Recently, Solera Health has raised $42 million in growth equity capital, with plans to further expand both its network and research endeavors into chronic diseases and the social and behavioral determinants of health.

Phoenix’s workforce grew by 77,000 in 2018, as the latest Yardi Matrix office report shows—12,000 of the added jobs were in education and health services. More and more large occupants such as Deloitte, Wells Fargo and Allstate are moving to the metro, which currently has more than 3 million square feet of office space under development.