REBusinessOnline

How Healthcare Adds Value to Mixed-Use Developments in Milwaukee and Beyond

When it comes to location identification for development, you have to think creatively. In a highly competitive market like Milwaukee, mixed-use projects offer a great opportunity to showcase creativity, take advantage of complementary uses and drive tremendous value for clients and investors. The success of a mixed-use project lies in location. A high-profile location will help attract businesses, which then helps build traffic. Ideally, you want to think outside the box to generate repeat …

MedProperties Breaks Ground on 56,000 SF Medical Office Building in Gilbert, Arizona

GILBERT, ARIZ. — Chicago-based MedProperties Group has broken ground on Mercy Medical Commons II, a medical office building located on Mercy Road adjacent to the main entrance of Dignity Mercy Gilbert Medical Center in Gilbert. Designed by Ware Malcomb, the three-story, 56,000-square-foot building will feature a 55-foot high-curved fin wall with integrated steel shade canopies, while the western curved façade will open to parking and a porte-cochere arrival area. The CORE Institute …

Fidelis Healthcare Partners to Develop 100,000 SF Medical Office Property in Denver

DENVER — Fidelis Healthcare Partners has finalized an agreement to develop Saint Joseph Medical Office Pavilion, a five-story medical office property on the Uptown Denver campus of Saint Joseph Hospital. Situated at the intersection of Park Avenue, Odgen Street and 18th Avenue, the 100,000-square-foot property will have three floors dedicated to Class A medical office space, ground-floor retail and restaurant space, with wellness, fitness and entertainment space on the rooftop. …

Beaumont Health, UHS to Partner on $40M Development of Health Facility in Dearborn, Michigan

DEARBORN, MICH. — Beaumont Health and Universal Health Services (UHS) have formed a joint venture to develop a new $40 million mental health hospital in Dearborn. The partnership also plans to implement Beaumont graduate medical education programs in psychiatry, psychopharmacology and other clinical training opportunities, and expand intensive day programs and outpatient care. Construction is slated to begin in early 2019 on the 150-bed hospital, which will be located across the street from …

Montecito Acquires Medical Office Building, Surgery Center in Chardon, Ohio

CHARDON, OHIO — Montecito Medical Real Estate has acquired Chardon Surgery Center in Chardon, about 30 miles northeast of downtown Cleveland. The purchase price was not disclosed. Built in 1998, the nearly 24,000-square-foot medical office and surgery center features three operating rooms, a laser surgery center and a newly built MRI center. Precision Orthopedic Specialties and Kellis Eye Center jointly own the ambulatory center, which occupies one-third of the overall space in the building. …

Caddis Breaks Ground on 34,650 SF Healthcare Facility in Frisco

FRISCO, TEXAS — Dallas-based Caddis has broken ground on Frisco Medical Pavilion, a 34,650-square-foot healthcare facility that will be located in the northeastern Dallas metro of Frisco. The Class A, single-story building is expected to be complete by summer 2019. Texas Health Physicians Group will be the anchor tenant. Two Dallas-area firms, Corgan and Novel Builders, are serving as architect and general contractor, respectively, for the

Former Trammell Crow, CBRE Executives Start New Healthcare Venture

DALLAS AND HOUSTON — Former Trammell Crow Co. and CBRE healthcare executives Kevin O’Neil and Mark Allyn have launched Fidelis Healthcare Partners, a venture that will focus on developing and acquiring healthcare properties. The new company will be affiliated with Houston-based Fidelis Realty Partners Ltd. and will utilize the firm’s existing tools and relationships to align its operations with the growing trend of “retailization of healthcare.” Each founding member has more than 20 …

Sterling Bay Purchases 119,415 SF Medical Research Center in Chicago

CHICAGO — Sterling Bay has purchased the Stanley Manne Children’s Research Institute in Chicago for an undisclosed price. Ann & Robert H. Lurie Children’s Hospital of Chicago was the seller. The hospital will lease the 119,415-square-foot research center from Sterling Bay until its research operations are fully consolidated at the Simpson Querry Biomedical Research Center in Streeterville in summer 2019. Originally built in 1995, the research center was expanded in 2003. In recent …

Capital One Provides $11M Acquisition Loan for Medical Office Building in Upstate South Carolina

SPARTANBURG, S.C. — Capital One has provided an $11 million adjustable-rate loan to Altera Development, a Dallas-based real estate development company. The company used the loan proceeds to acquire a 109,000-square-foot medical office building located on the campus of Mary Black Hospital in Spartanburg. The loan consists of $6.5 million in initial funding, a holdback for tenant improvements/leasing commissions and an earnout.

Quincy Medical Group to Backfill Former Bergner’s Store at Quincy Mall in Western Illinois

QUINCY, ILL. — Quincy Medical Group plans to open a new surgery and cancer treatment center at Quincy Mall in central western Illinois. The healthcare provider will occupy about half of the approximately 105,000 square feet on two floors of the former Bergner’s space. Quincy Medical Group will also have the opportunity for expansion on both first and second floors. Cullinan Properties Ltd. owns and manages the mall. The firm continues to identify new national retail tenants for the mall. …

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