REBusinessOnline

Davis Cos. Arranges 48,700 SF Lease for Pharmaceutical Company at Alewife Research Center in Cambridge

CAMBRIDGE, MASS. — The Davis Cos. has arranged a 48,700-square-foot lease for Japanese pharmaceutical conglomerate Eisai Inc. at the Alewife Research Center in Cambridge. Eisai will relocate from its current site in Andover in the first quarter of 2019. Developed by The Davis Cos., the Alewife Research Center is a LEED Silver-certified, 224,000-square-foot laboratory building with ground-floor retail. Located at 35 Cambridgepark Drive, the five-story facility is scheduled for completion by …

Wile Interests to Develop 70,000 SF Medical Office Building in Houston

HOUSTON — Houston-based Wile Interests has announced plans to develop Medical Plaza West, a 70,000-square-foot medical office building in Houston. The Class A property will be part of the Katy Green mixed-use development on the city’s west side. Construction is scheduled to begin during the first quarter of 2019. CBRE will handle leasing of the

Bull Realty Brokers $10.4M Sale of Medical Office Building in Knoxville

KNOXVILLE, TENN. — Bull Realty has brokered the $10.4 million sale of a medical office building in Knoxville. The property is fully leased to Knoxville Dermatology Group, which has been in the Knoxville market for more than 40 years. Michael Bull and Paul Zerman of Bull Realty arranged the transaction on behalf of the seller, Dermatology Investment Group LLC. The name of the buyer was not

SVN Arranges $2.4M Sale of Medical Office Building in Hoffman Estates, Illinois

HOFFMAN ESTATES, ILL. — SVN | Chicago Commercial has arranged the sale of a 20,500-square-foot medical office building known as Governor’s Plaza in Hoffman Estates for $2.4 million. The property is located at 2260 W. Higgins Road. The asset was 60 percent occupied at the time of sale. Olivia Czyzynski and Jennifer Hopkins of SVN represented the out-of-state seller. Zishan Alvi of Sky High Real Estate represented the undisclosed

Progress Capital Secures $6.8M Acquisition Financing for Medical Office in New Jersey

MILLBURN, N.J. — Progress Capital has secured $6.8 million in acquisition financing for PRLog, a 21,834-square-foot medical office building in Millburn. Brad Domenico of Progress Capital arranged a 15-year loan with a 30-year amortization for the undisclosed borrower that includes a seven-year fixed rate of 4.75 percent. The lender was not disclosed. The two-story building is currently divided into 11 individual units and was fully occupied at the time of sale by nine medical

E4H Begins $12.5M Renovation of Newport Hospital in Rhode Island

NEWPORT, R.I. — E4H Environments for Health Architecture has started a $12.5 million renovation on the emergency department of Newport Hospital in Newport. The five-phase renovation and expansion is slated for completion in September 2019. Once completed, the new 21,000-square-foot emergency department will provide 35 total treatment areas including a rapid treatment area with six exam rooms. Other features of the renovated emergency department will include an open reception desk and waiting …

Inland Real Estate Acquires Two Medical Office Buildings in Metro Phoenix

MESA AND CHANDLER, ARIZ. — Inland Real Estate Acquisitions has negotiated and closed on the purchase of two Swagel Wootton Hiatt Eye Centers in Mesa and Chandler, approximately 20 miles east of Phoenix. Matthew Tice of Inland Real Estate Acquisition and David Neboyskey of The Inland Real Estate Group Law Department completed the deal on behalf of an Inland affiliate. Located at 220 S. 63rd St. in Mesa and 3940 S. Alma School Road in Chandler, the properties provide a combined total of …

Carter Validus Purchases Healthcare Asset in Metro Houston for $15.3M

KATY, TEXAS — Tampa-based investment firm Carter Validus Mission Critical REIT has purchased Oceans Behavioral Hospital of Katy, a 34,296-square-foot healthcare property located in the western Houston metro of Katy. The single-tenant hospital was built in 2015 and offers 69 surface parking spaces. The tenant, which provides mental health education, group therapy and medication management services, currently has about 12 years remaining on the

Hampshire Companies Breaks Ground on 45,000 SF Medical Office Building in New Jersey

GLEN RIDGE, N.J. — The Hampshire Companies has broken ground on a three-story, 45,000-square-foot medical office building in Glen Ridge. The facility, located on the site of a former nursing school, is directly across the street from Mountainside Medical Center. Designed to meet the needs of 21st century health care providers, the medical office building will offer physicians and specialists Class A office space to provide care to the local community. The facility is expected to house a range …

Howard Hughes to Develop 67,200 SF Healthcare Project in The Woodlands

THE WOODLANDS, TEXAS — Howard Hughes Corp. (NYSE: HHC) will develop a 67,200-square-foot medical facility in The Woodlands, about 30 miles north of Houston. Designed by Houston-based PGAL, the project will deliver two 33,600-square-foot buildings within Creekside Park Village Center, a mixed-use property developed by Howard Hughes. Construction is scheduled to begin at the end of the year. Transwestern will handle leasing of the

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