REBusinessOnline

Colliers Negotiates $2.1M Sale of 7.2-Acre Development Site in Pennsburg, Pennsylvania

PENNSBURG, PENN. - Colliers International has arranged the sale of a commercially zoned land located at the southwest corner of Pennsylvania Route 663 and Northgate Boulevard in Pennsburg. PB Northgate purchased the 7.2-acre property, which is approximately 17 miles south of Allentown, for $2.1 million. The buyer plans to develop a medical office building and retail pad site on the land parcel. Derek Zerfass of Colliers International's office in Allentown, Penn., represented the undisclosed …

Stage Acquires 50,000 SF Medical Office Building in Green Bay, Wisconsin for $7.3M

GREEN BAY, WIS. — Stage Equity Partners LLC has acquired St. Mary’s medical office building in Green Bay for $7.3 million. The 50,000-square-foot property is fully leased to St. Mary’s Hospital Medical Center and operates under the Prevea Health brand as well as St. Gianna Clinic. The asset is located at 1727 Shawano Ave., directly across from St. Mary’s Hospital Medical Center. Considered part of the hospital campus, the property offers heart care, physical and occupational therapy, …

Avison Young Arranges Sale of 74,422 SF Medical Office Portfolio in Suburban Chicago

JOLIET, MORRIS AND NEW LENOX, ILL. — Avison Young has brokered the sale of a four-building, 74,422-square-foot medical office portfolio in suburban Chicago. The sales price was not disclosed. The properties include: 2614 W. Jefferson St. and 254 Republic Ave. in Joliet; 668 Cedar Crossing Drive in New Lenox; and 1600 W. Route 6 in Morris. All four buildings are fully leased to national healthcare tenants. Erik Foster and Mike Wilson of Avison Young represented the seller, a partnership of …

KeyBank Arranges $118.7M Financing for Medical Office Portfolio

CLEVELAND — Cleveland-based KeyBank Real Estate Capital has arranged $118.7 million in financing for a 20-property medical office portfolio located across 12 states. The borrower, Healthcare Trust Inc., will use the loan to refinance existing debt, facilitate new acquisitions and for general corporate purposes. Charlie Shoop and Joe DeRoy of KeyBank arranged the 10-year loan, which features a fixed interest rate of 4.5 percent. Details of the lender and the properties were not

InterFace Healthcare Real Estate Carolinas Coming May 31st in Charlotte

If you own, invest in, develop, operate, broker or finance healthcare and medical office real estate in North or South Carolina you need to be InterFace Healthcare Real Estate Carolinas! InterFace will once again bring together the leading hospitals and healthcare systems in the Carolinas, along with healthcare and medical office real estate owners, operators, investors, developers, brokers and lenders, to a unique, highly focused event combining four panel sessions along with a networking …

O,R&L Commercial Negotiates $1.5M Sale of Former Medical Building in East Hartford

EAST HARTFORD, CONN. — O,R&L Commercial has negotiated the sale of a 30,544-square-foot, former medical building in East Hartford for $1.5 million. The buyer, Ash Street Holdings LLC doing business as KIA of East Hartford Inc., plans to completely renovate and expand the building, which is located at 99 Ash St. After renovations, Kia of East Hartford will move from its current location, 540 Connecticut Blvd. Jay L. Morris and Luke Massirio of O,R&L Commercial represented the seller …

American Healthcare, Griffin Capital Acquire Medical Office Building Near Madison, Wisconsin for $19.5M

PRAIRIE DU SAC, WIS. — American Healthcare Investors and Griffin Capital Co. LLC, the co-sponsors of Griffin-American Healthcare REIT IV Inc., have acquired the Sauk Prairie medical office building in Prairie du Sac near Madison for $19.5 million. Built in 2014, the 55,000-square-foot building is currently fully leased to multiple healthcare service providers. Sauk Prairie Healthcare occupies 59 percent of the property, which is connected to the 36-bed Sauk Prairie Hospital. Chris Bodnar and …

Boulder Group Arranges $4.4M Sale of Medical Property in Chicago

CHICAGO — The Boulder Group has arranged the sale of a single-tenant property, net leased to Fresenius Medical Care in Chicago, for $4.4 million. The 9,396-square-foot building is located at 9924 S. Vincennes Ave. Fresenius, which provides renal services via its dialysis facilities, has 15 years remaining on its lease. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based real estate development company. A West Coast-based real estate investment firm was the …

Zeller Acquires 276,770 SF Biotech Facility in Metro Houston

PEARLAND, TEXAS — Zeller Realty Group, a Chicago-based development and investment firm, has acquired a 276,770-square-foot biotechnology facility in Pearland, a southern suburb of Houston. Completed in 2017, the facility is located approximately eight miles south of The Texas Medical Center. The property was fully leased at the time of sale to Lonza America Inc., a Houston-based subsidiary of Swiss pharmaceutical company Lonza Group AG. Jeff Hollinden and Cameron Cureton of HFF represented …

United General Hospital Signs 44,569 SF Lease at Texas Medical Center in Houston

HOUSTON — United General Hospital has signed a 44,569-square-foot medical office lease within the Texas Medical Center in Houston. The healthcare provider will operate out of 7501 Fannin, a 195,000-square-foot, Class A building that was completed in 2004. Zach Leger, Jacob Aldridge and Rani Jones of NAI Partners represented the landlord, Cambridge Properties, in the lease negotiations. David Greenberg of Greenberg & Co. represented United General

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