CLEARWATER, FLA. — JE Dunn Construction Co. has been selected to build a new five-story patient and surgical tower at Morton Plant Hospital in Clearwater. The project will feature 230,000 square feet of new construction and 154,400 square feet of renovation. JE Dunn will begin construction on the tower in spring 2015 and will tentatively complete the project in December 2016. The new tower is part of a four-year, $200 million campus transformation program for the hospital, which is a member of BayCare Health System. Gresham Smith and Partners is the architect of record for the project.
Healthcare
CHINO HILLS, CALIF. — Chino Hills Professional Plaza, a 40,000-square-foot medical office facility in the Los Angeles submarket of Chino Hills, has received an $8-million loan. The plaza is located at the intersection of Grand Avenue and Chino Hills Parkway. The fixed-to-floating rate loan will be used to refinance the asset and pay off an existing CMBS note for the owner, StoneCreek Company. Financing was secured by Greg Greene and CBRE Capital Market’s Debt & Structured Finance team in Dallas. It was provided by Everbank.
HARLINGEN, TEXAS — Strategic Behavioral Health will begin construction on Palms Behavioral Health, a 72-bed acute behavioral health hospital, on Aug. 28 in Harlingen. The company already operates a behavioral health hospital in College Station and in other locations around the country. The hospital is expected to bring about 200 new jobs to the area, part of metro Brownsville in far south Texas. The hospital will employ psychiatrists, psychologists, therapists and nurses treating patients with depression, anxiety, grief and personal crisis situations. The 52,000-square-foot hospital will serve all ages. It is expected to open in late 2015 at a cost of $12 million.
EAST BRUNSWICK, N.J. — HFF has arranged the $6.5 million sale of Cranbury Corporate Center, a medical office facility located at 620 Cranbury Road in East Brunswick. Completed in 2005, the two-story, 63,855-square-foot building is 80 percent leased to a variety of medical specialty groups such as MRI, surgical centers, OBGYN, eye care, rehabilitation, podiatry and general patient care. LabCorp and Life Alert are both tenants in the building. Kevin O’Hearn and Steve Simonelli of HFF represented the seller in the transaction.
JOLIET, ILL. —Marcus & Millichap has brokered the $753,500 sale of an 18,435 square-foot medical office property in Joliet. The multi-tenant building is located at 310 N. Hammes Ave. The property is a few blocks east of Presence Saint Joseph Medical Center.Jonathan Hegwood and John Abuja of Marcus & Millichap’s Chicago downtown office represented the seller, a limited liability company. An undisclosed buyer purchased the property.
NEWNAN, GA. — Batson-Cook Development Co. (BCDC) has partnered with Ackerman Medical to develop Newnan Centre for Health, a 25-acre, 250,000-square-foot medical office outpatient campus in Newnan. Located on Lower Fayetteville Road, the building will bring state-of-the-art Class A office space to the area for physician groups and healthcare providers. Newnan Centre for Health is situated between Cancer Treatment Centers of America, which is undergoing a $48 million expansion, and the 362,000-square-foot, 136-bed Piedmont Newnan Hospital.
DYER, IND. — Construction has begun on the Claremont of Dyer, a medical resort development in northwest Indiana. The 82,108-square-foot property, located at 1532 Calumet Ave. in Dyer, will include 130-units. The facility will provide short-term rehabilitation and therapy in a hotel-like setting. Carmel, Ind.-based Mainstreet is developing the project and Illinois-based Symphony Post Acute Network will operate the facility. The project is expected to create approximately 300 construction jobs and up to 115 part-time and full-time facility jobs. Construction is scheduled for completion in the summer of 2015.
MINNEAPOLIS — Marcus & Millichap has brokered the $1.4 million sale of Fresenius Medical Care Dialysis Clinic, a 7,990-square-foot, net-leased property in Minneapolis. The facility, located at 4310 Nicollet Ave., is situated on nearly a half acre. Gino Lollio and Scott Niedergang of Marcus & Millichap’s Chicago downtown office represented the seller, an individual/personal trust. Brian Munn and James Rea of Marcus & Millichap’s Atlanta office represented the buyer, a private investor. Dan Linnell of Marcus & Millichap’s Minneapolis office assisted in closing the transaction.
DAYTON, OHIO — Marcus & Millichap has arranged the $4.1 million sale of three dialysis centers totaling 35,670 square feet. Dialysis Centers of Dayton occupies two of the three buildings; one as the sole tenant and the other as co-tenant along with Renal Physicians Inc. DaVita Dialysis anchors the third facility with Renal Physicians Inc. occupying the remaining space. The anchor tenants, DaVita Dialysis and Dialysis Centers of Dayton (Miami Valley Hospital), each have more than nine years remaining on their leases along with two, five-year renewal options. Gino Lollio, Christopher Mitchel and Scott Niedergang of Marcus & Millichap’s national healthcare real estate group represented the seller, Premier Health Partners, a medical network of five hospitals and two major health centers in the Dayton region, including Miami Valley Hospital. The Marcus & Millichap team also represented the buyer, a private healthcare-focused real estate fund. Michael Glass of Marcus & Millichap’s Ohio office also assisted in the transaction.
DUNN, N.C. — Flagship Healthcare Real Estate Fund has acquired Harnett Health Medical Park, an 18,623-square-foot medical office building in Dunn, about 40 miles south of Raleigh. The property is located at 803 Tilghman Drive and is adjacent to Harnett Health’s 101-bed Betsy Johnson Hospital. Built in 2012, the medical office building is fully leased to Harnett Health with tenants including Dunn Medical Services, WakeMed Cardiology and Harnett Health’s Wound Center.