LOS ANGELES — Lee & Associates-LA North/Ventura has managed the $3.1 million trade of a 47,846-square-foot property, located at 5651 Sepulveda Blvd. in the Van Nuys area of Los Angeles. The buyer, Osteon Enterprises LLC, is an orthopedic practice that specializes in spinal injuries. Lee & Associates’ Randy Kobata and Jack Schlaifer represented both the buyer and the seller in the transaction. The San Fernando Valley physician will relocate to and expand his practice at the new site, as well as lease a portion of the new facility to other tenants.
ST. PAUL, MINN. — St. Louis Park, Minn.-based RJM Construction is renovating the 18,000-square-foot Toogood building, which is located at 2230 Como Ave. in St. Paul. Purchased by The Emily Program in 2010, the building is being converted to provide residential and outpatient treatment for teens with eating disorders and their families. The facility will include living quarters with five bedrooms, group counseling rooms, exams rooms and staff offices. 292 Design Group is providing architectural services for the project, which is scheduled for completion in July.
TAUNTON, MASS. — The groundbreaking ceremony has been held for Myles Standish Medical Center, a new Class A medical building located in Taunton. The three-story, 33,420-square-foot building will be constructed at the entrance to Myles Standish Industrial Park. Completion is scheduled for this fall. Commitments have already been received for 25 percent of the building's space. Cranston, R.I.-based A. Autiello Construction is providing design-build services, and Boston-based NAI Hunneman is leasing the building.
NEW YORK CITY — Cronheim Mortgage has arranged a $21.9 million loan for a 120,000-square-foot medical office building located on 32nd Street, between 3rd and Lexington avenues, in New York City. The 12-story building is fully occupied; its main tenant is Ameripath, a division of Quest Diagnostics, which occupies several floors and has a separate 24-hour secured entrance. The loan carries a 4.62 percent fixed rate with interest-only payments for the first 2 years of the 10-year loan and a 30-year amortization schedule thereafter. The lender was an insurance company. Andrew Stewart and Dev Morris of Cronheim arranged the financing.
WATERTOWN, N.Y. — NorthMarq Capital has arranged a $4.5 million first mortgage for Watertown Medical Building, a 47,500-square-foot medical office building located at 826 Washington St. in Watertown. The lender was Sun Life Assurance Co.; the terms of the loan were not disclosed. Michael James of NorthMarq's Upstate New York office arranged the financing on behalf of the undisclosed borrower.
SCHAUMBURG, ILL. — Leopardo, serving as general contractor, has completed the construction of a 53,000-square-foot medical office headquarters building for Barrington Orthopedic Specialists and Sports Medicine. Located at 929 W. Higgins Road, the two-story building features procedure rooms with recovery bays, a 1,400-square-foot conference room with commercial kitchen, and physical therapy, work hardening and work conditioning areas, MRI and physician office areas. The project also included a parking lot and landscaping. Tinley Park, Ill.-based Arete-Knight, a division of Knight E/A, provided architectural services for the project, which was completed in 11 months.
SALT LAKE CITY — The Surgical Weight Loss Center of Utah has purchased the 6,216-square-foot Madison Building located at 100 S. 1046 E. in Salt Lake City. Terms of the deal were not disclosed. NAI Utah’s Jim Balderson and Collin Perkins represented the seller, Madison Building LLC, in the transaction. Built in 1956, the original two-story property was torn down by developers Jim Jensen and Rebecca Maw of Madison Building LLC, who completed a new building on the site earlier this year.
SUGAR LAND — Sugar Land Physician Partners has purchased 4.2 acres of land at the northwest corner of First Colony Boulevard and Highway 59 at 16906 Southwest Fwy. in Sugar Land from Sugar Land Properties, Inc. Construction will soon commence on a 42,022-square-foot brick veneer hospital that will be leased to Sugar Land Surgical Hospital. The hospital, scheduled for a late 2012 opening, will include four surgery suites, two procedure rooms and six patient rooms. In addition, a two-story, 30,000-square-foot medical office building will be constructed adjacent to the hospital. Browne McGregor Architects is serving as the project architect, while Mission Constructors is the contractor. Don Janssen of Planned Community Developers represented Sugar Land Properties, Inc., in its 4.2-acre sale to Sugar Land Physician Partners, which was represented by Kolbe Curtice of Colliers International.
DALLAS — MEDCO Construction has recently completed the $128 million Baylor Charles A. Sammons Cancer Center at Dallas. The 10-story, 467,000-square-foot facility is the largest outpatient cancer center in North Texas, and it is expected to earn LEED Gold certification. Features include a two-story parking garage under the building; a dedicated central utility plant inside the building; and a radial connector bridge spanning two parking garages, the outpatient cancer center and Baylor's inpatient cancer hospital. Perkins+Will served as the project architect. The public grand opening is March 26.
PLANO — Golden Living, a senior healthcare company, will relocate its corporate headquarters to Plano in April. It is currently located in Fort Smith, Ark. The new headquarters will consist of approximately 27,000 square feet of office space at The Campus at Legacy in Plano, located directly off the Dallas North Tollway between SH 190 and SH 121. Golden Living's previous Fort Smith location will become an administrative center, providing support to the company's businesses and 42,000 employees nationwide.