HOUSTON — AMD Global LLC and partner Medical Center Developments have purchased St. Joseph Medical In The Heights, a six-story, 192,077-square-foot hospital situated on 3.9 acres at 1917 Ashland St. in Houston. AMD plans to renovate the property to include a neonatal unit, pediatric offices, a full orthopedics center and a wound care center.
The Houston healthcare sector has gotten off to a slow start in 2017. Financial concerns are impacting several healthcare systems as they adapt to a changing marketplace. Industry challenges such as increasing technology costs, as well as changes in payer mixes and reimbursement rates, have impacted organizations’ operating models as a whole. While the majority of organizations have effectively adjusted or are adapting to the change, companies such as CHI St. Luke’s Health, Adeptus..
DRIPPING SPRINGS, TEXAS — JLL has negotiated the sale-leaseback of an 18,313-square-foot post-acute rehabilitation facility situated on 10.6 acres at 3035 W. Highway 290 in the Austin suburb of Dripping Springs. Arizona-based STORE Capital purchased the five-building property from Mentis Neuro Health, which will leaseback 100 percent of the space for 15 years. Rudy Hubbard, Kevin McConn and Rick Goings led the JLL team in the transaction.
NATIONAL HARBOR, MD. — Trammell Crow Co. and its partner, Meadow Partners, have broken ground on the Medical Pavilion at National Harbor, a 93,100-square-foot, Class A medical office building located at 251 National Harbor Blvd., roughly 11 miles south of Washington, D.C. The five-story building will be home to medical and clinical specialties, including dermatology, wellness and functional fitness, orthopedics, primary care and an ambulatory surgery center. Located within the master-planned..
DETROIT — Mission Point Management Services LLC, in partnership with Slavik Cos., Welbrook Senior Living and Pierre and Hany Boutros, has acquired the former St. Mary’s Adult Foster Care Residence in Detroit’s Lafayette Park. The purchase price was not disclosed, but Mission Point plans to invest $13 million to transform the 37,000-square-foot former foster care facility into a 59-bed skilled nursing and rehabilitation center. Focusing on short-term physical and occupational therapy, the..
BELLEVILLE, ILL. — McGrath & Associates has completed construction of a new $4.8 million hybrid vascular operating room at Memorial Hospital Belleville in Belleville, about 17 miles east of St. Louis. The room incorporates advanced surgical, imaging and monitoring technology for endovascular surgical procedures. McGrath combined two existing operating rooms to accommodate the high-tech equipment, including a Siemens Artis Zeego robotic-arm imaging system and Storz monitoring equipment...
HOUSTON — Stream Realty Partners and development partner AMD Global LLC will develop Memorial Medical Pavilion, a 101,744-square-foot, Class A medical office complex near the Texas Medical Center in Houston. In early June, joint venture between Stream, AMD and Diamond Realty Investments Inc., an affiliate of Mitsubishi Corp., purchased the two-acre site on which the complex will be developed. Construction is scheduled to begin in December with occupancy slated for the first quarter of 2019.
Larken Associates Continues Redevelopment of Raritan Valley Professional, Medical Center in New Jersey
RARITAN, N.J. — Larken Associates has broken ground on a 14,000-square-foot built-to-suit building at the former Henderson Building property in Raritan. Rebranded as Raritan Valley Professional Center, the redeveloped property will offer more than 70,000 square feet of professional and medical office space by September. The property currently features a fully leased 40,000-square-foot building and a 17,000-square-foot Carriage House, which is original to the site. The existing building..
LOMA LINDA, CALIF. — Easterly Government Properties has purchased the 327,614-square-foot Department of Veterans Affairs (VA) Ambulatory Care Center in Loma Linda. The center is located at 26001 Redlands Blvd. The price was not disclosed. The property serves as the U.S. Department of Veterans Affairs’ flagship outpatient facility. It is fully leased to the VA for 20 years. The center is situated on 37 acres in an enclave that features the Jerry L. Pettis Memorial VA Medical Center and..
SUGAR LAND AND RICHMOND, TEXAS — Marcus & Millichap has brokered the $58 million sale of a portfolio of fully leased medical office properties in the western Houston metros of Sugar Land and Richmond. The portfolio includes Memorial Hermann Surgical Hospital and Physicians Pavilion in Sugar Land, as well as UT Physicians facilities in Sugar Land and Richmond. Scott Niedergang and Gino Lollio of Marcus & Millichap represented the seller, a partnership, and procured the buyer, a public..