DALLAS — Frazier Revitalization Inc., Parkland Health & Hospital System and BOKA Powell have broken ground on a new $19.8 million, 44,300-square-foot outpatient clinic in the Fair Park area of Dallas. The facility, to be located on a seven-acre site on the corner of Scyene Road and Hatcher Street, will serve geriatric and behavioral health patients in addition to providing on-site diagnostic imaging and lab services. The property, which will meet the city’s Green Building guidelines, will be situated adjacent to the Hatcher Station of the Dallas Area Rapid Transit (DART) system. Construction is slated for completion in the first quarter of 2015.
Healthcare
SAN ANTONIO — Transwestern has brokered the sale of Texas Center for Athletes, a 128,347-square-foot medical office building in San Antonio. Located at 21 Spurs Lane within the South Texas Medical Center, the four-story, Class A property was 98 percent leased at the time of the sale. Built in 2006, the facility includes a surgery center, pharmacy, therapeutic spa and on-site deli. Alan Grilliette and Russell Noll of Transwestern represented the seller, Sports SA Holdings LP, in the transaction. A subsidiary of Senior Housing Property Trust acquired the asset and retained Transwestern to lease the building.
CINCINNATI — Hybrid Capital, a New York-based full service commercial mortgage brokerage and advisory firm, has arranged $4.6 million in financing for the acquisition of three medical office properties in greater Cincinnati. The 30,000-square-foot Mercy Health Systems portfolio consists of three buildings, located at 10663 Montgomery Road and 12115 Sheraton Lane in Cincinnati and 328 Thomas More Parkway in Crestview Hills, Ky. The portfolio is 100 percent occupied by Mercy Health’s Cincinnati Sports Medicine and Orthopedic Center. The 10-year, fixed-rate loan was arranged through StanCorp Mortgage Investors on behalf of Med Cincinnati 3 LLC. Mercy Health Systems is a subsidiary of Ohio-based Catholic Health Partners.
BELLEVILLE, ILL. — Marcus & Millichap has brokered the sale of DaVita Metro East Dialysis, a 13,445-square-foot net-leased property in Belleville. The property, located at 5105 W. Main St., sold for approximately $3.9 million. Valerie Cook, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a private investor. Cook, Weisenbeck and Sharko also represented the buyer, Art Belleville.
ATLANTA — McCarthy Building Cos has broken ground on Grady Health System’s new 90,224-square-foot, five-story emergency tower located north of the Grady Hospital’s main campus. The project, estimated to cost $52.7 million, will also include the renovation of 77,599 square feet of existing space. The tower will include an intake area, public entrance, waiting area, 35 exam rooms, two resuscitation rooms and a staff support area. McCarthy expects to finish construction in 2016. Charlotte-based Freeman White Inc. is the project architect.
DELAFIELD, WIS. — The Ryan Companies U.S. Inc. will develop a new, 30,000-square-foot clinic for the Children’s Hospital of Wisconsin. The new facility will be built in Delafield approximately 26 miles west of Milwaukee. Initial improvements to the 5.1-acre site located at 3195 Hillside Drive began in early April. Construction on the two-story building will occur during the summer with a projected opening in late 2014. The new clinic will provide services for asthma/allergy; cardiology; dermatology; ear, nose and throat; gastroenterology; orthopedics and urology specialty care; primary care; imaging, and physical and occupational therapy for children and adolescents. There will also be a lab and pharmacy. Ryan is providing development, design-build construction and real estate management services for the project. Zimmerman Architectural Studios Inc. will serve as the project’s architect. Associated Bank has provided construction financing for the project.
WEST BLOOMFIELD AND TROY, MICH. — L. Mason Capitani CORFAC International has been appointed as the exclusive leasing representative for two Class A medical facilities in Michigan. The properties include the West Bloomfield Beaumont Medical Center, located at 6900 Orchard Lake Road in West Bloomfield; and the Kirkwood Professional Plaza, located at 5500 Auto Club Drive in Dearborn. Kirco Management Services LLC operates both properties. Mason Capitani and Gary Grochowski of CORFAC will direct all leasing efforts at the two properties.
NEW YORK — Berkadia Commercial Mortgage has arranged $43.9 million for two skilled nursing facilities in New York. Jay Healy of Berkadia’s Seniors Housing and Healthcare group worked with the owner of both properties to secure the fixed-rate financing. Healy secured a 12-year term extension and closed a 29-year, 6-month loan through HUD’s 232/223(a)(7) program for a 280-bed facility in Nassau County, which offers around-the-clock nursing care, therapeutic recreational programs, on-site dentistry and a beauty parlor for its residents. In addition, Healy facilitated a note modification through HUD for a five-story building in Dutchess County, which consists of 160 beds. The two transactions resulted in combined debt service savings of over $1.7 million for the borrower and were structured in such a way that a master lease was not required by HUD.
NEW YORK CITY — Stalco Construction and Perkins Eastman have completed the $24 million expansion and renovation of Lincoln Medical Center Emergency Department in the Bronx. The emergency care facility and Level 1 trauma center is the fifth-busiest emergency department in the United States, according to the companies. The emergency department increased to 57,095 square feet, and the number of treatment bays doubled from 53 to 106. The project includes a dedicated children’s emergency unit, an adult waiting room, new psychiatric and mental health emergency unit, trauma center, asthma patient unit and a women’s health section. The project team included general contractor Stalco Construction; architect Perkins Eastman; construction manager Hunter Roberts; structural engineer GACE Consulting Engineers; mechanical, electrical, and plumbing (MEP) engineer Kallen & Lemelson, Consulting Engineers; geotechnical engineer Pillori Associates; and landscape designer RGR Landscape.
BETHLEHEM, PA. — MHC Associates has sold a recently renovated three-story medical office building to Lehigh Valley Health Network for $6.2 million. The 44,489-square-foot building sits on the Lehigh Valley Hospital Muhlenberg Campus and has easy access to Route 22. NAI Summit assisted both parties to make the process seamless. Built in 1989 and renovated in 2011, the medical office building is located at 2597 Schoenersville Road in Bethlehem. NAI Summit has provided management services for the property during the past 27 years.