TACOMA, WASH. — Marcus & Millichap has arranged the sale of James Center Plaza, an office building at 1628 S. Mildred St. in Tacoma. A limited liability company sold the property to an undisclosed buyer for $8.6 million. The 34,272-square-foot property features eight medical-dental tenants, all under triple-net lease terms with staggered lease expirations. Michael Babicz and RJ Vara of The Vara Group of Marcus & Millichap’s Seattle office represented the seller in the deal.
MILFORD, MASS. — Marcus & Millichap has negotiated the $4.1 million sale of a 39,424-square-foot healthcare property in Milford, located southwest of Boston. Built on 3.5 acres in 1985, Hill Office Park was 76 percent leased at the time of sale to 12 tenants, including Milford Regional Medical Center, Metro West Oral Surgery and Asthma Allergy Physicians. Harrison Klein of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
RIVERHEAD, N.Y. — New Jersey-based financial intermediary Cronheim Mortgage and Singer Financial have co-arranged a $16 million acquisition loan for Riverhead Medical Office Park on Long Island. Riverhead Medical Office Park consists of six single-story buildings totaling 101,949 square feet that were fully leased at the time of the loan closing. Andrew Stewart and Brandon Szwalbenest of Cronheim Mortgage, in conjunction with Gregg Singer of Singer Financial, arranged the fixed-rate loan on behalf of the owner, Miami-based Candor Capital. The direct lender was an undisclosed life insurance company.
SCHAUMBURG, ILL. — Ann & Robert H. Lurie Children’s Hospital of Chicago has opened its new 75,000-square-foot outpatient center in Schaumburg. The project consolidates services from former locations in Arlington Heights, Hoffman Estates and Huntley into one facility. The center will offer a range of specialties and an ambulatory infusion center. The project team included HKS as architect, Skender as general contractor, IMEG Corp. as structural and mechanical engineer and V3 Cos. as civil engineer. In addition to its main hospital in downtown Chicago, Lurie Children’s now offers care through 17 outpatient centers, six primary care locations and 10 partner hospitals across Chicagoland.
TACOMA, WASH. — The Vara Group of Marcus & Millichap has arranged the sale of NVA Referral Center, a net-lease property in Tacoma. A limited liability company sold the asset to an undisclosed buyer for $12.6 million. NVA Summit Veterinary Management LLC occupies the 27,199-square-foot property on a 10-year triple-net lease basis. The property is located at 2505 S. 80th St. Matthew Herman and RJ Vara of The Vara Group of Marcus & Millichap represented the seller in the deal.
PLANO, TEXAS — PACE Equity and Lone Star PACE have provided $2.4 million in C-PACE financing for the renovation of Independence Medical Center, a 57,000-square-foot medical office building located north of Dallas in Plano. Planned upgrades include a replacement of HVAC systems, modernization of common areas and the installation of 56 covered parking spaces with solar-paneled rooftops. The property owner was not disclosed.
DALLAS — California-based healthcare investment firm HPA Exchange has acquired the Nexus Dallas Children’s Hospital, a 86,880-square-foot facility located at 9525 Greenville Ave. on the city’s north side. Nexus Health Systems operates the facility, which was renovated in 2022 as a build-to-suit for the provider. The pediatric hospital features 30 beds (expandable to 60) and offers seven care programs across 10 specialized services. The seller and sales price were not disclosed.
HAVERHILL, MASS. — Chicago-based investment firm Echo Real Estate Capital Inc. has sold a 59,000-square-foot medical office building located in the northern Boston suburb of Haverhill for approximately $9.6 million. The building is located on the Lawrence General Holy Family Hospital campus and was 90 percent leased at the time of sale. Tenants include Revere Medical, Northeast Rehab, Mobility Bone and Joint Institute and PhyNet Dermatology. The buyer was not disclosed.
SUGAR LAND, TEXAS — Woodside Health, a private equity healthcare real estate firm based in Cleveland, has acquired Sugar Land Physicians Center, a 60,000-square-foot medical office building located southwest of Houston. The three-story building was completed in 2014, according to LoopNet Inc. Woodside purchased the asset in a joint venture with global investment manager Heitman. The seller and sales price were not disclosed.
TROY, MICH. — Stepful Inc., a training center that helps users launch careers in healthcare, has signed a two-year, 2,400-square-foot medical office lease at 637 E. Big Beaver Road in Troy. James Mitchell of Dominion Real Estate Advisors LLC represented the tenant in the lease. Rick Ax of NAI Farbman represented the undisclosed landlord.