Montecito Medical Acquires Healthcare Firm, 221,000 SF Medical Office Building in Metro Nashville

MUFREESBORO, TENN. — Montecito Medical Real Estate has acquired Murfreesboro Medical Partners LLC, a Murfreesboro-based medical office building (MOB) owner. The acquisition includes a three-story, 221,000-square-foot MOB that was fully leased to Murfreesboro Medical Clinic (MMC) at the time of sale. MMC houses more than 80 physicians and 600 employees and offers more than 20 specialties, including an ambulatory surgery center and radiology department. The terms of the acquisition were not …

Block & Co. Negotiates Sale of Development Site in Lawrence, Kansas

LAWRENCE, KAN. — Block & Co. Inc. Realtors has negotiated the sale of a nearly one-acre development site in Lawrence. The property is located at 5100 Congressional Circle. The buyer, Sanders LP, plans to begin construction this summer on a 9,000-square-foot building. A local dental practice will anchor the development, leaving 4,000 square feet of additional space for lease. Completion is slated for the first quarter of 2020. Shawn Stuckey of Block represented the buyer in the sale. The …

Pediatric Associates to Open 7,430 SF Practice in Overland Park, Kansas

OVERLAND PARK, KAN. — Pediatric Associates has signed a lease to open a 7,430-square-foot practice at AdventHealth South Overland Park. The practice, which provides comprehensive pediatric care for all childhood health issues, will be located on the third floor. Construction within the space is expected to start later this month with completion slated for the fall. Mark McConahay of Block & Co. Inc. represented Pediatric Associates in the lease transaction. Molly Crawford Munninghoff …

As Healthcare Trends Toward Value and Efficiency, Buildings Follow Suit

Digital connectivity and rising costs are rapidly transforming industries across the country, and healthcare is certainly no exception. Digital health solutions and the material realities of the economy, along with a changing regulatory landscape, are reshaping the way providers deliver care. For example, the increased uses of telehealth, artificial intelligence (AI) and more community-based facilities (such as urgent care centers) are changing the spaces providers need. This activity is in …

Flagship Healthcare Purchases 121,741 SF Medical Office Building Portfolio in Metro Charlotte

CHARLOTTE, N.C. — Flagship Healthcare Properties has acquired a 121,741-square-foot portfolio featuring six medical office buildings (MOBs) in metro Charlotte. Three of the MOBs are located in Concord, with the remaining three in Kannapolis, China Grove and Locust. The portfolio was 91 percent leased at the time of sale. Cabarrus Family Medicine, part of Atrium Health, occupies 75 percent of the portfolio’s total square footage. Flagship will provide property and asset management services, …

Ridgeline, Harrison Street Acquire 124,990 SF Behavioral Health Facility in Fort Worth

FORT WORTH, TEXAS — A partnership between Ridgeline Capital Partners and Harrison Street has acquired Fort Behavioral Health, a 124,990-square-foot healthcare property in Fort Worth. The Class A facility was renovated in 2018, includes 125 beds and offers services such as addiction treatment programs and residential programs for adolescents with autism spectrum disorder. Vizion Health is the operator of the property, the seller of which was not

NAI Robert Lynn Buys 22,654 SF Medical Office Building in Dallas

DALLAS — RLI, the investment division of NAI Robert Lynn, has purchased a 22,654-square-foot medical office building located at 9500 N. Central Expressway in Dallas. The building currently houses DaVita Central Dallas Dialysis, and RLI has a new long-term agreement with a national surgical company to anchor the building. RLI expects the new space to be operational in the first quarter of 2020. Nick Lee and Justin Utah of NAI Robert Lynn sourced the off-market building purchase and handled …

Marcus & Millichap Arranges $15M Acquisition Loan for Medical Facility in Hiawatha, Iowa

HIAWATHA, IOWA — Marcus & Millichap Capital Corp. has arranged a $15 million loan for the acquisition of an 80,000-square-foot medical facility in Hiawatha. Mercy Medical Hospital has a 20-year lease at the property while Wolf Eye Clinic has a 14-year lease. The five-year loan features a 30-year amortization schedule, a 70 percent loan-to-value ratio and a fixed rate of 4.58 percent. Borrower information was not

Perimeter Healthcare Acquires Two Behavioral Hospitals Totaling 232 Beds in Metroplex

DALLAS AND ARLINGTON, TEXAS — Perimeter Healthcare, a behavioral healthcare company backed by Ridgemont Equity Partners, has acquired two 116-bed inpatient psychiatric hospitals located in the Dallas-Fort Worth (DFW) metroplex. The facilities will reopen in 2019 as Perimeter Behavioral Hospital of Dallas and Perimeter Behavioral Hospital of Arlington. This transaction marks Perimeter’s third acquisition in the past seven months. The seller was not

Echo Development Group Acquires Medical Building in Akron, Ohio

AKRON, OHIO — Echo Development Group Inc. has acquired a 5,645-square-foot medical building in Akron for an undisclosed price. Echo acquired the property in partnership with BrightView, an outpatient addiction practice based in Cincinnati. The partnership plans to convert the building into a behavioral health clinic, which is set to open this summer. Currently, BrightView operates eight clinics in various locations throughout