Healthcare

Beck Group Marks Milestone in Construction of Texas Health Huguley Hospital

by Haisten Willis August 28, 2015

FORT WORTH, TEXAS — The final steel beam has been placed on the new Texas Health Huguley Hospital, signifying the project has reached its maximum height. The facility is both designed and constructed by Dallas-based The Beck Group and will be completed in summer 2016. The six-story facility will total 234,300 square feet and include a new public lobby on the ground floor, a women’s services floor with two C-section suites, eight labor and delivery rooms, 20 postpartum rooms and a nursery, three levels with medical/surgical units and 36 inpatient beds per floor.

August 28, 2015

Avison Young Arranges $24.3M Sale of Maryland Medical Office Portfolio

by John Nelson August 25, 2015

FREDERICK, MD. — Avison Young has brokered the $24.3 million sale of a medical office portfolio in Frederick. Located at 194 and 45 Thomas Johnson Drive in Frederick’s Doctor Row area, the two Class A buildings total 82,348 square feet. The two fully leased buildings are roughly two-thirds occupied by affiliates of Frederick Memorial and John Hopkins Hospitals. Jim Kornick and Chip Ryan of Avison Young’s Washington, D.C., office represented the seller, Ausherman Development Corp., in the transaction. The buyer was CNL Healthcare Corp.

August 25, 2015

Healthcare Indiana Midwest Office

Managed Health Services Signs Office Lease Extension, Expansion in Indianapolis

by Jonathan Mehall August 24, 2015

INDIANAPOLIS — Owner and property manager Fairbridge Properties has signed Managed Health Services to a lease extension and expansion at the Landmark Center, a Class A office tower, located at 1099 N. Meridian St. in the central business district of Indianapolis. The deal expands Managed Health Services’ space by 9,768 square feet, bringing the company’s total occupancy to 60,452 square feet. The lease expires April 30, 2017. The 12-story tower is 100 percent leased and includes other full- and multi-floor tenants such as Angie’s List, Disciples of Christ Christian Church, United States Citizenship and Immigration Services and Jacobs Engineering Group. Landmark Center features numerous amenities including a fitness center, conference facility, full-service cafeteria and indoor bike storage. Fairbridge acquires, develops and manages commercial properties ranging in value between $10 million and $45 million.

August 24, 2015

Healthcare Office Texas

Newmark Grubb Knight Frank Brokers $56M Sale of MOB Portfolio in Metro Dallas, Houston

by Haisten Willis August 19, 2015

PLANO AND CONROE, TEXAS — The Global Healthcare Services division of Newmark Grubb Knight Frank (NGKF) has completed the $56 million sale of a two-property medical office building (MOB) portfolio comprising the 94,359-square-foot Legacy Medical Village in Plano and the 68,832-square-foot Conroe Medical Arts and Surgical Center in Conroe. Garth Hogan, Todd Perman and Chris Gordon of NGKF represented the seller in the transaction. The buyer, American Realty Capital, was self-represented. Legacy Medical Village was built in 2007 and is located at 5425 W. Spring Creek Parkway within the Legacy Business Park. The MOB is located between the Children’s Medical Center Plano and the Texas Health Presbyterian Hospital. Conroe Medical Arts and Surgical Center was built in 2003 and is located at 1501 River Pointe Drive adjacent to the Conroe Regional Medical Center hospital campus. The two medical office buildings are 93 percent leased to healthcare providers, including specialists and primary care physicians. The Conroe facility includes an ambulatory surgical center owned by Tenet Healthcare.

August 19, 2015

Healthcare Michigan Midwest Office

Forum Group Arranges 30,000 SF Lease for Molina Healthcare in Detroit

by Jonathan Mehall August 14, 2015

DETROIT – The Forum Group, an NAI Farbman Group partner, has arranged a 30,000-square-foot lease for Molina Healthcare of Michigan Inc., located at 615 W. Lafayette Blvd. in Detroit, the building formerly occupied by the Detroit Free Press and The Detroit News. Molina will house 125 new employees on the entire fifth floor of the six-story building. After more than 97 years at 615 W. Lafayette, the Detroit Free Press and The Detroit News last fall moved into the Federal Reserve Building at 160 W. Fort St., which is owned by Bedrock Real Estate Services. Thomas Lasky of the Forum Group represented Molina Healthcare in the transaction.

August 14, 2015

Healthcare New York Northeast

Our Lady of Lourdes Memorial Hospital Medical Office Building in New York Sells for $22M

by Amy Works August 12, 2015

VESTAL, N.Y. — Jacobson Properties and Cushman & Wakefield/Pyramid Brokerage Company of Binghamton Inc. have arranged the sale of Our Lady of Lourdes Memorial Hospital medical office building in Vestal. A major private healthcare buyer acquired the 57,000-square-foot property for $22 million. Lisa Menin of Jacobson Properties and Leo Jones of Cushman & Wakefield negotiated the transaction. The name of the seller was not released.

August 12, 2015

Phelps County Regional Medical Center Waynesville Medical Plaza

Healthcare Midwest Missouri

McCarthy Building Cos. Completes $18M Medical Clinic in Mid-Missouri

by Jeff Shaw August 12, 2015

WAYNESVILLE, MO. — McCarthy Building Cos. Inc. has completed construction of the $18 million, four-story Phelps County Regional Medical Center (PCRMC) Waynesville Medical Plaza in Waynesville. The new facility, visible from I-44 and located next to the Veteran’s Primary Care Clinic in the heart of the Missouri Ozarks, enables PCRMC to offer expanded healthcare services to Pulaski County. Services include a walk-in clinic, a full imaging suite, cardiac testing services, physicians’ offices, physical therapy and a sleep lab. It also provides a physicians’ clinic with 23 exam rooms and space for various services. The Waynesville Medical Plaza is part of a five-year master plan that PCRMC began implementing in 2013 in an effort to expand and improve patient care in the area. As part of the plan, McCarthy also completed the renovation of the pharmacy and cardiac rehabilitation departments at the main medical center in Rolla and broke ground on the new Delbert Day Cancer Institute at PCRMC this spring.

August 12, 2015

Healthcare Midwest Office Ohio

Marcus & Millichap Brokers Sale of Medical Office Building for $4.7M in Perrysburg, Ohio

by Jonathan Mehall August 7, 2015

PERRYSBURG, OHIO — Marcus & Millichap has brokered the sale of a 22,089-square-foot medical office building in Perrysburg, approximately 10 miles south of Toledo. The Starbright Professional Center at 28555 Starbright Blvd. sold for $4.7 million. The office is part of the ProMedica St. Luke’s Hospital Health System. Ryan Moore and Christopher Mitchel of Marcus & Millichap’s Cleveland office represented the seller, a private investor. A limited liability company represented itself as the buyer.

August 7, 2015

Healthcare Illinois Midwest

I.M. Construction Group Completes Construction of Illinois Bone and Joint Institute

by Jonathan Mehall August 3, 2015

LIBERTYVILLE, ILL. — I.M. Construction Group (IMCG) has completed the construction of a 7,500-square-foot, single-story building for the Illinois Bone & Joint Institute (IBJI) located at 724 Florsheim Drive in Libertyville, a northern suburb of Chicago. Construction included the demolition of the existing interior and the build-out of new medical office space with therapy areas and exam rooms. IBJI is relocating its physical and occupational therapy space to the new building from an adjacent location at 720 Florsheim Drive, where it will also continue to maintain operations. Brubaker Architects provided architectural services for the project.

August 3, 2015

Arizona Healthcare Western

Phoenix Children’s Hospital Leases Space at Biltmore Commerce Center in Phoenix

by Nellie Day August 3, 2015

PHOENIX — Phoenix Children’s Hospital has leased 27,265 square feet of space at Biltmore Commerce Center in Phoenix. The Class A complex is located at 3200 E. Camelback Road within the Camelback Corridor. The new lease brings the center to nearly 96 percent occupancy. Other notable tenants include HDR Engineering, Lee & Associates, United Way, Greystar, North American Title Company, DeRito Partners and Miller Russell & Associates. Scott Maxwell of CRESA represented the hospital in the transaction. Bill Blake, Craig Coppola, Andrew Cheney and Colton Trauter of Lee & Associates represented the landlord, Lincoln Property Company.

August 3, 2015

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