SUGAR LAND, TEXAS — TierOne Development has broken ground on a 38,600-square-foot medical office property at 7619 Branford Place in the Houston metro of Sugar Land. Slated for a second-quarter 2018 completion, the Class A building is being developed on a speculative basis. Tim Gregory and Ashley Cassel of Transwestern’s Healthcare Advisory Services team will handle leasing of the property.
JUPITER, FLA. — Berkadia has arranged a $31 million bridge loan for Jupiter Medical & Technology Park, a 186,000-square-foot medical office building and research facility located at 1701 Military Trail in Jupiter, roughly 20 miles north of West Palm Beach. Charles Foschini and Christopher Apone of Berkadia arranged the three-year, floating-rate loan on behalf of the borrower, Biscayne Atlantic, through Silverpeak Argentic. Constructed in 1990, Jupiter Medical & Technology Park houses tenants including Florida Turbine Technologies and Jupiter Medical Center.
THE WOODLANDS, TEXAS — Signorelli Co. will develop Vivacity, a 186-acre medical district located within the 1,400-acre, master-planned community of Valley Ranch in northeast Houston. Vivacity will total more than 2.5 million square feet of health, wellness and life science facilities upon completion, a timetable for which has not yet been established. Houston-based healthcare provider CHI St. Luke’s Health was recently announced as the first tenant of the development.
DAMARISCOTTA, MAINE — LincolnHealth has broken ground for the construction of a $13.7 million medical office building at the Damariscotta campus. Designed by E4H Environments, an architecture firm focused on the healthcare industry, the 39,800-square-foot facility will house primary, specialty and behavioral care services that are current spread across four buildings. The building will feature two practice floors and universal exam rooms for primary and specialty care; a community room for large group activities; and the psychiatry practice for Maine Behavioral Healthcare; as well as pediatric, internal medicine, OBGYN, surgery, orthopedics, ENT and urology practices. Lewiston, Maine-based Hebert Construction Corp. is serving as construction manager for the project, which is slated for completion in June 2018.
HOUSTON — Inland Real Estate Acquisitions has acquired two medical office buildings in Houston, both of which are leased to U.S. Pain & Spine Institute. The Houston Hospital for Specialized Surgery, located at 5445 La Branch St., measures 34,600 square feet and offers surgical beds and three operating rooms. The USPS Surgical Institute, located at 8111 Southwest Freeway, measures 37,000 square feet and serves as an ambulatory surgery center. Inland Real Estate Acquisitions, which serves as the purchasing arm of The Inland Real Estate Group of Cos. Inc., also brokered the sale.
WAUWATOSA, WIS. — The Orthopedic Institute of Wisconsin has signed a 9,573-square-foot lease at a three-story office building to be redeveloped in Wauwatosa. HSA Commercial Real Estate owns the building, located at 3077 Mayfair Road. The Orthopedic Institute will open a 7,125-square-foot flagship clinic in the western portion of the building’s ground level with a patient drop-off area and parking. The institute, which will also utilize space on the building’s third level for administrative operations, is scheduled to open the new facility in April 2018 after relocating from an existing office nearby. HSA Commercial purchased the property in 2015 in partnership with Innovative Capital Advisors. Construction is scheduled to start in August for interior improvements. Chris Thomas of Evanston, Ill.-based TOA Architecture and Urban Design is responsible for the project design, and Itasca, Ill.-based Premier Design + Build will serve as the general contractor. Jim Cavanaugh of CBRE represented the Orthopedic Institute in the lease transaction.
LA MESA, CALIF. — Anchor Health Properties has purchased Fletcher Parkway Medical Center, an 82,024-square-foot medical office building in the San Diego suburb of La Mesa, for an undisclosed sum. The building is situated adjacent to Sharp Grossmont Hospital, just north of the Interstate 8/California 125 interchange. Sharp HealthCare anchors the center. The asset features services like Surgical Care Affiliates (SCA) surgery center, radiology, laboratory, diagnostics, cardiology, pediatrics, ophthalmology, rehabilitation and hospice. HFF’s Evan Kovac, Andrew Milne and Trent Jemmett represented the seller, The Abbey Company, in this transaction.
ARLINGTON, TEXAS — Inland Real Estate Acquisitions Inc. has acquired the Kleiman/Evangelista Eye Center, a 27,500-square-foot medical office building located at 350 E. Interstate 20 in Arlington. Built in 2015, the center is the only one of the practice’s three locations provides patients with same-day surgicare and expanded treatments beyond Lasik surgery. The company, which is the purchasing arm of The Inland Real Estate Group of Cos. Inc., also helped broker the sale.
SAN ANTONIO — Dallas-based private equity firm Velocis has acquired Legacy Oaks, a 224,262-square-foot, Class A medical office adjacent to the 900-acre South Texas Medical Center in San Antonio. The seven-building complex, which recently underwent capital improvements, was 75 percent leased at the time of sale to healthcare providers such as Baptist Health System and MEDNAX.
THE WOODLANDS, TEXAS — Everson Developments is building a 51,000-square-foot, Class A medical office property at 123 Vision Park Blvd. in The Woodlands. The three-story building will be situated on 3.5 acres with access to several nearby hospitals, including Memorial Hermann The Woodlands Hospital and Houston Methodist The Woodlands Hospital. Construction is expected to be complete by the end of 2018. The J. Beard Co. is handling preleasing of the building
