Healthcare

Hackensack-Meridian-Health-Eatontown-New-Jersey

Goodbye Retail, Hello Medical Malls: How Adaptive Reuse Can Accelerate Healthcare Development

by Taylor Williams February 24, 2026

By Aran McCarthy, president, FCA Healthcare providers and designers of those facilities are dedicated to creating spaces that meet the ever-growing demand for their services. Despite this desire, cities and towns nationwide are struggling to meet the needs of their growing populations. According to the Health Resources and Services Administration, as of January, there are more than 4,800 health professional shortage areas (HPSAs) for primary care facilities in the country. This disconnect between the need for care and the number of facilities equipped to support delivery of said care is on full display, and therein lies opportunity. Markets across the country are simultaneously dealing with a very different challenge; changes in consumer habits have created vacancies within retail real estate . In response to these trends, healthcare designers and system leaders have recognized that the adaptive reuse of former retail properties into “medical malls” offers a practical solution to increasing access to care. This approach prioritizes speed to market and cost efficiency for operators and also enhances community access without the long and costly timelines associated with new construction. Physical Synergy: Repositioning Retail for for Healthcare The physical features associated with many big-box retail locations make them particularly well-suited for healthcare …

February 24, 2026

Development Healthcare Kansas Midwest

McCarthy Completes Construction of $105M Hospital in Colby, Kansas

by Kristin Harlow February 23, 2026

COLBY, KAN. — McCarthy Building Cos. has completed a new medical center replacement hospital for Citizens Health in Colby, a city in rural northwest Kansas. HFG Architects designed the facility. Located adjacent to the existing property, the campus consolidates Citizens Medical Center’s services into a single location. The 171,000-square-foot, 25-bed hospital represents a $105 million investment and serves as the only hospital between Hays, Kan., and Denver. The facility includes a full-service emergency department, inpatient beds, a surgery department with an orthopedic focus featuring four operating rooms and multiple procedure rooms, a clinic for 30 physicians and comprehensive support services, including dietary, laboratory, radiology, physical therapy and oncology. The property is among the nation’s largest hospitals funded through the U.S. Department of Agriculture’s Critical Access Hospital program. Additional project partners include Farris Engineering, BHC Engineering, Apex Engineering, Rand Mechanical, Bart’s Electric, Midwest Drywall, Hi-Plain Doors, Dunlap Concrete and Pryor Fire Sprinkler. Sporer Land Development completed mass grading.

February 23, 2026

Acquisitions Healthcare Midwest Wisconsin

Terramed Acquires BluePearl Pet Hospital in Appleton, Wisconsin for $7.1M

by Kristin Harlow February 20, 2026

APPLETON, WIS. — Terramed Real Estate Solutions has acquired BluePearl Pet Hospital Fox Valley, a veterinary facility in Appleton within Wisconsin’s Fox Valley, for $7.1 million. The 32,232-square-foot emergency, specialty and urgent care property is the only 24-hour veterinary hospital in East Central Wisconsin. The transaction included the renegotiation of a new 10-year lease. The hospital’s team of 20 veterinarians offers orthopedic and soft-tissue surgery, internal medicine, dermatology, oncology, medical imaging and other advanced services. Terramed now holds a national portfolio of nearly 2 million square feet of medical real estate.

February 20, 2026

Healthcare Leasing Activity Life Sciences Northeast Pennsylvania

Drexel University to Open 150,741 SF Healthcare, Life Sciences Facility in Philadelphia

by Taylor Williams February 18, 2026

PHILADELPHIA — Drexel University will open a 150,741-square-foot healthcare and life sciences facility in Philadelphia’s University City area. The space spans four of the 11 stories within the building at 3201 Cuthbert St., which is adjacent to Drexel’s campus. The university plans to consolidate the entirety of its research and laboratory operations within the Drexel University College of Medicine in the new building, which was designed by Robert A.M. Stern Architects and is owned by a partnership between Gattuso Development Partners and Vigilant Holdings Occupancy is slated for mid-2027.

February 18, 2026

Development Healthcare North Carolina Southeast

Swinerton Breaks Ground on $5.5M Medical Office Building in Pineville, North Carolina

by John Nelson February 11, 2026

PINEVILLE, N.C. — Swinerton Builders’ Carolinas division has broken ground on a $5.5 million medical office building located at 10425 Good Sell Court in Pineville, about 14 miles south of Charlotte. Locally based Metrolina Dermatology will occupy the 8,000-square-foot property upon completion, which is expected in early spring. Situated on 1.2 acres, the medical office building will feature 11 exam rooms, two aesthetic rooms, four Mohs exam rooms, one Mohs lab, a sterilization room, four offices and up to five medical assistant/nursing stations, as well as a welcoming lobby/waiting area and an employee breakroom. (Mohs is a specialized technique used to remove skin cancers.) Outside, the property will feature an asphalt parking lot for 40 to 50 cars. The design-build team includes Nelson Worldwide Architects, Cornerstone Architecture, LJB Engineering and Kimley-Horn.

February 11, 2026

Development Healthcare Illinois Midwest

Ware Malcomb Completes Design of 3,500 SF Outpatient Office for Romeo Orthopaedics in Suburban Chicago

by Kristin Harlow February 10, 2026

BURR RIDGE, ILL. — Ware Malcomb has completed the interior architecture and design, along with branding services, for the 3,500-square-foot outpatient office for Romeo Orthopaedics in Burr Ridge. Romeo Orthopaedics specializes in the management and surgical treatment of shoulder, elbow and sports medicine conditions. Ware Malcomb worked in partnership with the building owner, C.R. Panico & Associates, to complete the project. The project scope of work encompassed minor demolition, new walls and doors, power and data installation, updated ceilings and lighting, finishes and custom millwork. A dedicated X-ray suite required close coordination with specialty consultants to address equipment clearances, shielding requirements and infrastructure integration, ensuring compliance with clinical and safety standards. Morgan/Harbour Construction was the general contractor.

February 10, 2026

Acquisitions California Healthcare Western

County of Riverside Buys Two Medical Office Buildings in California for $53M

by Amy Works February 9, 2026

RIVERSIDE COUNTY, CALIF. — The County of Riverside has acquired two fully leased medical office buildings in Riverside County for a combined total of $53 million. The asset, located at 8876 Mission Blvd. in Jurupa Valley, Calif., sold for $25 million, and the property at 2813 S. Main St. in Corona sold for $28 million. Jurupa Valley Community Health Center is a single-story, 40,000-square-foot medical outpatient building built in 2019. The property is fully leased to the County of Riverside, dba Riverside University Health System (RUHS), under a long-term lease. RUHS also fully occupies the two-story, 45,204-square-foot Corona Community Health Center, which was built in 2018. Travis Lee, Gino Lollio and Tyler Morss of Cushman & Wakefield’s Healthcare Capital Markets team represented the undisclosed seller in the transactions.

February 9, 2026

Features Healthcare

How to Buy a Medical Office Property

by Taylor Williams February 5, 2026

By Ryan McCullough, partner, managing director, Partners Real Estate Over the last decade, medical office buildings (MOBs) have become one of the most in-demand asset classes in commercial real estate. This shift did not happen by chance. Two major changes in the broader real estate market reshaped investors’ priorities and positioned medical office as a durable, long-term investment vehicle. The first was the rise of e-commerce. As consumers moved toward online shopping and same-day delivery, traditional retail properties faced elevated pressure. Investors began searching for asset types with consistent demand and limited exposure to technological disruption. As a result, MOBs, anchored by in-person healthcare delivery, benefited directly from this shift. The second was the COVID-19 pandemic. While retail and hospitality experienced sharp declines, MOBs proved far more resilient. Healthcare services remained essential, patient volumes recovered quickly and medical tenants continued operating. This period reinforced the reputation of MOBs as a defensive investment with stable demand through economic cycles. That surge in investor interest, however, has also led to confusion and, in some cases, unnecessary risk. Understanding the Diversity of Healthcare Assets As a commercial investment, healthcare is not a single, uniform product type. Properties vary widely in use, cost, complexity …

February 5, 2026

Acquisitions Healthcare Texas

Stage Equity Partners Buys 40,075 SF Medical Office Portfolio in El Paso

by Taylor Williams February 4, 2026

EL PASO, TEXAS — Stage Equity Partners, an investment firm based in the Chicago area, has purchased a portfolio of two medical office buildings totaling 40,075 square feet in El Paso. The buildings were fully leased at the time of sale to practices in fields such as neurology, gastroenterology, general surgery, pediatrics, behavioral health, laboratory testing and oral surgery. Jay Miele of Newmark represented the undisclosed seller in the transaction. Wintrust Bank provided acquisition financing for the deal.

February 4, 2026

Healthcare Idaho Loans Western

Gantry Secures $21.2M Refinancing for Two Medical Office Buildings in North Idaho

by Amy Works February 4, 2026

COEUR D’ALENE AND SANDPOINT, IDAHO — Gantry has secured a total of $21.2 million in two permanent loans to refinance maturing debt for a pair of medical office buildings in Coeur d’Alene and Sandpoint. The financing included a $9.7 million loan for a 38,000-square-foot property located at 423 N. Third Ave. in Sandpoint and an $11.5 million loan for a 60,000-square-foot facility at 1919 Lincoln Way in Coeur d’Alene. Both assets feature outpatient and family medicine providers tied to local hospital systems. Demetri Koston and Abi Hunter of Gantry’s Inland Northwest production team represented the single borrower, a private real estate investor, for both loans. The five-year, fixed-rate loans were provided by a single pension fund lender from Gantry’s roster of debt sources and include prepayment flexibility after a 30-year amortization.

February 4, 2026

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