Healthcare

TECUMESH, MICH. — Dominion Real Estate Advisors LLC has negotiated the sale of the former Herrick Memorial Hospital property located at 500 E. Pottawatamie St. in Tecumesh, about 60 miles southwest of Detroit. The sales price was undisclosed. James Mitchell of Dominion represented the buyer, Greater Midwest Group LLC. The hospital operated as a 50-bed acute care facility until it closed in September 2020. The new owner plans to use the 188,179-square-foot property as a behavioral health facility.

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BROWNSBURG, IND. — Sila Realty Trust Inc. has acquired an inpatient rehabilitation facility in Brownsburg, a northwest suburb of Indianapolis, for $39 million. Capital Growth Medvest was the seller. The property is fully leased to Community Health Network Rehabilitation Hospital West, a joint venture between Community Health Network (CHN) and Lifepoint Rehabilitation, a business unit of Lifepoint Health. CHN is a nonprofit health system with more than 200 sites of care and facilities throughout central Indiana, including six acute care hospitals totaling approximately 1,150 beds. Lifepoint is a national healthcare provider with 62 community hospitals and over 30 rehabilitation and behavioral health facilities across 29 states. The recently constructed facility in Brownsburg began accepting patients in May 2023, and serves as the third inpatient rehabilitation facility operated by the joint venture in the greater Indianapolis area. The property totals 56,000 square feet with 40 beds. The facility focuses on acute rehabilitation and recovery for patients who suffer from stroke, traumatic brain injury, spinal cord injury, complex neurological disorders, orthopedic conditions, multiple traumas, amputation and other injuries. The two-story building is situated on 12.2 acres.

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NEW YORK CITY — ENT & Allergy Associates has signed an 8,200-square-foot lease renewal and expansion in the Flushing area of Queens. The provider is expanding from 1,800 to 10,000 square feet at the 37,421-square-foot retail and medical center located at 35-30 Francis Lewis Blvd. Jonathan Serko of Cushman & Wakefield represented the tenant in the lease negotiations. Miles Mahony of RIPCO Real Estate represented the locally based landlord, Simone Development Cos.

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OMAHA, NEB. — Darland Construction Co. has completed a nearly 38,000-square-foot medical office building for MD West One, an Omaha-based orthopedic, neurosurgery and spine clinic. R&R Realty was the developer. The facility is located on the southwest corner of 192nd Street and West Dodge Road in Omaha. The clinic has more than 40 exam rooms and dedicated areas for X-ray, radiology, casting and procedures. The property is located within the Fountain Ridge West development in an area of the West Dodge corridor that is slated for major development in the coming years.

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CINCINNATI — CBRE has arranged the sale of a portfolio comprising six medical office building (MOB) properties in Northern Kentucky. Totaling 145,308 square feet, the properties are located in Florence, Fort Mitchell, Crittenden, Walton, Alexandria and Butler. Kentucky-based Zalla Cos. sold the portfolio to Chicago-based Remedy Medical Properties for an undisclosed price. Steve Timmel, Will Roberts, Chris Prosser and Travis Likes of CBRE’s Cincinnati office represented the seller in the transaction. St. Elizabeth Physicians, a health system based in Erlanger, Ky., fully occupies the portfolio.

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MIDLAND, MICH. — Marcus & Millichap has arranged the $9.8 million sale of the Great Lakes Bay Surgery & Endoscopy Center in central Michigan’s Midland. The multi-tenant medical office building totals 23,420 square feet. Seth Haron, Ashish Vakhariya and Darin Gross of Marcus & Millichap represented the undisclosed buyer and seller. The deal closed in 30 days with an all-cash buyer.

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HUDSON, OHIO — The Cooper Commercial Investment Group has brokered the $3 million sale of University Hospital’s Hudson Health Center in Hudson, a northern suburb of Akron. The medical office building totals 16,352 square feet and is situated on 2.3 acres. There are just under five years remaining on the lease, which features annual rental increases. Bob Havasi and Dan Cooper of Cooper Group represented the undisclosed seller. The asset sold to an all-cash buyer based in California. The sales price represented a cap rate of 7.77 percent.

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MESA, GILBERT AND QUEEN CREEK, ARIZ. — Banner Health has completed the disposition of an outpatient medical building portfolio in Arizona totaling 80,315 square feet. Stockdale Capital Partners acquired the portfolio for $32 million. Banner Health fully occupies the three assets in Mesa, Gilbert and Queen Creek. The properties were constructed in 2013 and 2014. Mindy Berman, Pat Williams, Matt DiCesare and Liam Sorensen of the JLL Medical Properties Group investment advisory sales team represented the seller. John Chun, Daniel Digerness and Liam Sorensen of the JLL Medical Properties Group debt advisory team secured $25 million in acquisition financing for the buyer.

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CASTLE ROCK, COLO. — NavPoint Real Estate Group has negotiated the sale of 1055 Perry St., a Class A medical rehabilitation facility in Castle Rock, approximately 30 miles south of Denver. C.R.H.I. LLC sold the asset to JTLC CR CO LLC for $13.5 million. Situated on 2.3 acres, the two-story building totals 28,704 square feet of medical office space. The facility also features landscaping, modern interior finishes, multiple outdoor patios and terraces, a dining hall and physical therapy suite. Matt Call and Mike Quinlan of NavPoint Real Estate Group represented the seller in the off-market transaction.

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CARMEL, IND. — Colliers has brokered the sale of The Green on Meridian, a two-building medical office portfolio totaling 58,158 square feet in the Indianapolis suburb of Carmel. The sales price was undisclosed. The three-story buildings are 25 percent occupied by 10 tenants. Alex Cantu, Alex Davenport and Bryce Wetzel of Colliers represented the seller, NAYA Investment & Management, an independent real estate firm specializing in the acquisition and management of office and residential properties across Indiana and Florida. A private investor was the buyer.

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