Healthcare

PROMED PROPERTIES PURCHASE BIEWEND, TUPPER BUILDINGS FOR $112M

by admin August 16, 2011

BOSTON — ProMed Properties has purchased the Biewend and Tupper buildings in Boston for approximately $112 million. The buildings sit on the Tufts Medical Center campus and are 100 percent leased to Tufts Medical Center, a teaching hospital for Tufts University Medical School. The 14-story Biewend Building, located at 260 Tremont St., is 154,500 square feet and houses the New England Eye Center, Division of General Internal Medicine and the Adult Orthopedic Clinic. The 14-story Tupper Building, located at 15 Kneeland St., is 97,600 square feet and houses 12 stories of laboratories and two stories of office space. Grubb & Ellis’ Phil Giunta and Anthony Biette represented Daymark Realty Advisors, the buildings’ managers, and procured ProMed Properties.

August 16, 2011

HOKANSON BREAKS GROUND FOR $56M JACKSONVILLE CLINIC

by admin August 15, 2011

JACKSONVILLE, FLA. — Hokanson Cos. and U.S. Federal Properties Co. have broken ground for the $56 million, 135,000-square-foot VA Jacksonville Outpatient Clinic, to be located near the Shands Jacksonville Hospital in Jacksonville. The facility will offer expanded medical services for women, primary care, radiology, two outpatient operating rooms and six endoscopy suites. Completion is slated for 2012.

August 15, 2011

Healthcare Midwest

JV TO OPEN $17M REHAB HOSPITAL IN OHIO

by admin August 15, 2011

BEACHWOOD, OHIO — A joint venture between Cleveland-based University Hospitals and Nashville, Tenn.-based Centerre Healthcare Corp. has planned to construct a $17 million comprehensive inpatient rehabilitation hospital, located on Harvard Road in Beachwood. The 50,000-square-foot facility will provide physical, occupational and speech language therapy along with specialized rehabilitation nursing and a wide range of clinical services. Construction is scheduled to begin in October 2011 with completion slated for October 2012. Cogdell Spencer ERDMAN is the developer for the project and Earl Swensson Associates is the architect.

August 15, 2011

Healthcare Northeast

VERNON MEDICAL ARTS BUILDING SELLS FOR $2.3M

by admin August 12, 2011

VERNON, N.J. — CB Richard Ellis (CBRE) has brokered the $2.3 million sale of the Vernon Medical Arts Building located at 212 Route 94 in Vernon. The property is 100 percent occupied, making it the only fully outfitted urgent care facility in Sussex County. CBRE’s Charles Berger and Elli Klapper represented the buyer in the transaction.

August 12, 2011

Healthcare Midwest

M&M BROKERS $1.16M SALE OF ILL. MOB

by admin August 10, 2011

FORSYTH, ILL. — Marcus & Millichap has arranged the $1.16 million sale of a 3,455-square-foot, single-tenant medical office building currently leased to Aspen Dental, located at 138 Highland Ave. in Forsyth. Evan Halkias and Michael Marks of the firm's downtown Chicago office represented both undisclosed parties.

August 10, 2011

Healthcare Midwest

M&M NEGOTIATES $2.09M SALE OF ILL. MOB

by admin August 9, 2011

ORLAND PARK, ILL. — Marcus & Millichap has brokered the $2.09 million sale of a 6,000-square-foot, single-tenant, net-leased property, located at 12155 S. LaGrange Rd. in Orland Park, which is currently leased to DaVita Dialysis Center. Evan Halkias and Michael Marks of the firm's downtown Chicago office represented the seller, a private investor, and John Abuja and Jason St. John of the same office represented the buyer, a limited liability company.

August 9, 2011

Healthcare Northeast

AVALONBAY ACQUIRES PRINCETON MEDICAL CENTER, NEARBY HOMES

by admin August 9, 2011

PRINCETON, N.J. — AvalonBay Communities, Inc. has acquired the University Medical Center at Princeton building and nine houses on Harris Road, all of which were owned by Princeton HealthCare System (PHCS). PHCS is building a replacement 630,000-square-foot hospital in Plainsboro, N.J., with a slated 2012 opening.

August 9, 2011

Healthcare Midwest

CAMBRIDGE CLOSES ON $5.2M HUD LOAN FOR REHAB CENTER

by admin August 5, 2011

EFFINGHAM, ILL. — Cambridge Realty Capital Cos. has arranged a $5.2 million HUD Lean loan to refinance the 133-bed Lakeland Rehabilitation and Healthcare Center in Effingham. The 30-year loan is fully amortized and was arranged on behalf of the property's owner using the HUD Section 232 pursuant to Section 223(f) funding program.

August 5, 2011

Healthcare Midwest

CONSTRUCTION BEGINS FOR ILL. CANCER CENTER

by admin August 5, 2011

NEW LENOX, ILL. — Premier Design + Build Group has started construction on the 22,869-square-foot Silver Cross Hospital/University of Chicago Medical Center, a two-story cancer treatment center in New Lenox. The project features an architectural precast connector link that will adjoin the new facility to the existing medical office building on the Silver Cross Hospital campus. RTKL Associates is providing architectural services for the project, which is scheduled for completion in November.

August 5, 2011

Healthcare Western

PM REALTY, STEVE MILLER CO. CLOSE $6M LEASE

by admin August 5, 2011

INGLEWOOD, CALIF. — PM Realty Group and the Steve Miller Company have co-brokered a lease agreement for nearly 30,000 square feet of medical office space for Didi Hirsch Community Mental Health Center at the 70,000-square-foot Freeman Medical Towers in Inglewood. The lease is value at more than $6 million. PM Realty and Steve Miller represented the landlord, Grabel Financial & Linton Financial, in the transaction.

August 5, 2011

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