LINCOLNWOOD, ILL. — The Missner Group has renovated a 15,500-square-foot building into a new medical office for the Illinois Bone & Joint Institute (IBJI) in Lincolnwood. The property is located at 6540 N. Lincoln Ave. A former auto dealership, the new medical clinic features private offices, meeting and conference rooms, medical exam rooms, physical and occupational therapy facilities, X-ray suites and medical storage space. Debb Kosich LLC was the developer for the project. Glen Missner, Drue Stoehr, Uros Stojakovic and Len Corso led the construction team for The Missner Group. Stephen Rankin & Associates provided architectural services. IBJI specializes in the diagnosis, treatment and management of injuries and diseases of the musculoskeletal system. This was The Missner Group’s fourth project for IBJI. Additional projects were completed in Chicago, Des Plaines and Wilmette.
WARWICK, R.I. — RE/MAX Commercial has brokered the sale of a 31,500-square-foot medical office building in Warwick. Situated on four acres at 390 Toll Gate Road, the property sold for $3.2 million. The building is occupied by 12 medical groups, including Kent Cardiology, Kent Hospital Lab Services, Bayside Endocrinology, King Opticians, West Bay Surgical Associates and Kent Urology. Andy Kusher and Michael Milano of RE/MAX Commercial represented the seller, Toll Gate Associates. Tom Sullivan of Commercial Realty Advisors represented the buyer, BEM Realty Trust, in the transaction.
ROCKVILLE, MD. — Scheer Partners has arranged a full-building, 33,800-square-foot lease at 9708 Medical Center Center Drive in the Center for Life Science | Shady Grove campus in Rockville. GlycoMimetics signed the lease with the building’s owner and operator, BioMed Realty Trust Inc. The property recently underwent extensive renovations, including the addition of a fitness center, shared conferencing facilities, covered walkway, upgraded landscaping, campus lighting, exterior finishes and campus signage. Henry Bernstein and Nathan Crowe of Scheer Partners represented BioMed Realty Trust in the lease transaction.
NEWTON, MASS. — Skanska USA has completed a $6.7 million, 30,000-square-foot fit-out of the new Beth Israel Deaconess Medical Center (BIDMC) Urgent Care facility at Chestnut Hill Square in Newton. The new 30,000-square-foot center offers a variety of modern medical services and technologies, including orthopedics, sports medicine, physical/occupational therapy, radiology, gynecology, urgent care, surgical specialties and phlebotomy labs. For the fit-out, Skanska worked with BIDMC architect Linea 5 and RDK engineers to apply lean construction techniques to the project, which allowed the team to complete the project in seven months. Lean construction is a production management-based approach to product delivery that streamlines processes to maximize value and reduce waste throughout a project. Extensive off-site prefabrication included prefabricating plumbing fixtures, sink units and in-wall electrical and lighting units, reducing the need for on-site storage.
FORT MILL, S.C. — Atlanta-based Bull Realty has brokered the $12 million sale of Carolina Commons Medical Center, a 58,195-square-foot medical office building in Fort Mill. Paul Zeman of Bull Realty’s national healthcare capital markets group represented the seller, Charlotte-based RED Partners, in the transaction. The buyer was American Healthcare Investors. The primary tenant of Carolina Commons is Novant Health.
WHITE PLAINS, N.Y. — GHP Office Realty has leased the entire 15,000-square-foot, street-level of 7-11 South Broadway in White Plains. Located in the central business district, the four-story, 70,000-square-foot building has been repositioned to medical use and is now 100 percent leased to medical tenants. Formé Rehabilitation Inc. has signed a long-term lease for 11,500 square feet of space at the building. Gina Cappelli and Bruce Berg of Cappelli Enterprises represented Formé Rehabilitation Inc. Additionally, Broadway Dental Associates inked a long-term lease for the remainder of the floor, approximately 3,500 square feet, for a state-of-the-art dental infrastructure facility. Jamie Schwartz provided in-house representation for the owner, GHP Office Realty, in the deals.
NEW YORK CITY — KeyBank Real Estate Capital has closed an $80.5 million loan for Hutch Tower II in the Bronx. Constructed in 2014, the 278,133-square-foot medical office building was built for Montefiore Medical Center. Peter Rand and Robert Williams of KeyBank secured the non-recourse, fixed-rate CMBS loan, which will be used to retire a construction loan with M&T.
BELLEVILLE, N.J. — Rendina has acquired a three-building medical office portfolio, located in Belleville, for $14.75 million. The 128,006-square-foot portfolio is situated on the campus of Clara Maass Medical Center (CMMC), a Barnabas Health facility. The purchase allows Rendina to bring management and leasing expertise to the properties, and also provides Barnadas Health an additional source of capital for the development of an 87,000-square-foot expansion at CMMC. Rendina will serve as the developer for the project, which includes a state-of-the-art intensive care unit, new hospital lobby and custom-designed physician office space. Site work, including a parking garage expansion, began in late September. In addition to handling management and leasing responsibilities, Rendina will invest more than $2 million in capital improvements and upgrades for the newly acquired properties.
GLENDALE, CALIF. – CNL Healthcare Properties has acquired the Lee Hughes Medical Building, a 76,758-square-foot medical office building in Glendale, for $29.9 million. The Class A building is located on the campus of the 500-bed Glendale Adventist Medical Center. Lee Hughes is connected to the main hospital through a sky bridge. The building is currently 97 percent occupied by a range of tenants, including an ambulatory surgery center leased by Adventist Health. Lee Hughes Medical Building is the only on-campus medical office building not owned by the hospital. Cypress West Realty Management Inc. will provide on-site leasing and asset management services.
HARTFORD, WIS. AND MECHANICSVILLE, VA. — Capital Square Realty Advisors has acquired two healthcare buildings for an undisclosed price in the Richmond suburb of Mechanicsville and the Milwaukee suburb of Hartford. The portfolio includes a 73,756-square-foot, two-story building located at 1550 Innovation Way in Hartford and a build-to-suit 20,066-square-foot, single-story medical office building located at 7515 Right Flank Road in Mechanicsville. Each of the healthcare properties are on long-term leases to tenants.