REBusinessOnline

MLL Capital Acquires Two Medical Office Buildings Totaling 112,228 SF Near Boston

WOBURN, MASS. — MLL Capital has acquired two medical office buildings totaling 112,228 square feet in Woburn, a northern suburb of Boston. The seller and sales price were not disclosed. The property was 78 percent leased at the time of sale to tenants such as Beth Israel Lahey Health, Tufts Medical Center and Woburn Pediatrics. Boston-based MLL Capital plans to make approximately $4 million in capital improvements to the buildings. The program will include the remodeling of entrances, a …

Montecito Acquires 38,000 SF Medical Office Building in Central Ohio

GAHANNA, OHIO — Montecito Medical Real Estate has acquired a 38,000-square-foot medical office building and surgery center in Gahanna, a suburb of Columbus, for an undisclosed price. The two-story facility was constructed on a build-to-suit basis for Central Ohio Urology in 2013. The ambulatory surgery center is 27 percent of the rentable area and consists of four procedure rooms and two operating rooms. The remainder of the building consists of clinical areas, imaging, lab and administrative …

Healthcare Providers in Retail Settings Is A Win-Win-Win

With a solid healthcare provider as a tenant, everyone wins: Landlords realize draws in traffic to the property, while providers expand their services and reach more patients and consumers enjoy added convenience and generally lower medical costs. The practice of housing healthcare providers in retail locations has become commonplace across the United States. Changing dynamics in healthcare reform, technological advances, demographic shifts and consumer preferences drove this shift. JLL’s …

Skender Constructs 26,000 SF Health Center in Chicago

CHICAGO — Skender has completed construction of Esperanza Brighton Park, a new 26,000-square-foot health center in Chicago’s Brighton Park neighborhood. Esperanza, which stands for “hope” in Spanish, is a two-story facility. It includes clinical office space, 30 exam rooms, space for additional diagnostic and treatment services, a retail pharmacy and 69 parking spaces. Skender, serving as general contractor, collaborated with architect JGMA and McNitt Consulting to complete the

Confluent, Harbor Retirement Break Ground on New Assisted Living Property in Stuart, Florida

STUART, FLA. — Confluent Senior Living and Harbor Retirement Associates (HRA) have broken ground on HarborChase of Stuart, a 128,000-square-foot assisted living and memory care facility located at 786 N.W. Federal Highway in Stuart. HarborChase of Stuart will offer 96 assisted living and 38 memory care apartments available in one- and two-bedroom units. Confluent Senior Living, a subsidiary of the Denver-based real estate investment and development firm Confluent Development, serves as …

HFF Negotiates $25.3M Sale of Healthcare Property in Metro Philadelphia

BROOMALL, PA. — HFF has negotiated the $25.3 million sale of a 57,320-square-foot cancer center and multi-specialty outpatient facility in Broomall, a western suburb of Philadelphia. At the time of sale, the facility was fully leased to healthcare provider Crozer-Keystone on an absolute triple-net basis. Ben Appel, Evan Kovac, Andrew Milne and Doug Rodio of HFF represented the seller, Pennsylvania-based investment firm Capital Solutions, in the transaction. The buyer was Anchor Health …

HFF Directs $14.5M Sale of Medical Office Building in Metro Portland

TIGARD, ORE. — HFF has arranged the sale of Tigard Medical Plaza, a medical office building located in Tigard, approximately 10 miles south of downtown Portland. An undisclosed seller sold the property to a private investor for $14.5 million in all-cash, 1031 exchange transaction. Completed in 2005, Tigard Medical Plaza is a 20,994-square-foot outpatient medical office building and ambulatory surgery center. Situated on 1.7 acres, the property was fully leased at the time of sale. Evan …

Harrison Street Acquires 676,917 SF Life Sciences Property Near MIT

CAMBRIDGE, MASS. — Chicago-based investment management firm Harrison Street has acquired Osborn Triangle, a 676,917-square-foot life sciences property situated adjacent to the Massachusetts Institute of Technology (MIT) campus in Cambridge. The complex encompasses three buildings, all of which were either recently built or renovated. The sale included a 650-space parking garage. Harrison Street partnered with Bulfinch Cos., a subsidiary of MIT that retains a partial interest in the property, …

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 …

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