OCEANSIDE, CALIF. — San Diego-based Reno Contracting is working toward a March completion of the 84,000-square-foot U.S. Department of Veteran Affairs outpatient clinic. The property will be located in the Seagate Corporate Center at 1300 Rancho Del Oro in Oceanside. Rockefeller Group Development Corp. is overseeing the build-to-suit project.
CHALFONT, PA. — Colliers Lanard & Axilbund (CLA) has represented Orthopaedic Specialty Center (OSC) in the acquisition of a 5.3-acre land parcel located within New Britain Corporate Center in Chalfont. OSC plans to develop a 33,000-square-foot medical facility on the site that will specialize in orthopedic surgery, rehabilitation and imaging. Construction is expected to begin in October, with completion in mid-2010. CLA's Matthew Shanahan represented OSC in the land purchase. John Shelly of Cushman & Wakefield represented the seller, BPG Properties, Ltd.
NEW YORK CITY — Yonkers, N.Y.-based NAI Friedland Realty has arranged the sale of the Farrand Building in the Bronx, New York City, for $5.19 million. Located at 4401 Bronx Blvd., the building had previously been used as a substance abuse rehabilitation center, as well as for medical research, by the seller, Our Lady of Mercy Medical. The buyer, Montefiore Medical Center, plans to continue that use for the building. Rick Stassa of NAI Friedland represented both parties in the transaction.
MOAB, UTAH — Walker & Dunlop has secured a $29.85 million loan for the construction of a 17-bed hospital in Moab. The property will replace an existing facility, which was built in 1957. The Federal Housing Administration’s Hospital Mortgage Insurance Program provided financing for the loan, which comes with a 16-month interest-only period and a 25-year amortization.
NEW YORK CITY — Marcus & Millichap has brokered the sale of a 15,120-square-foot medical office property located in Brooklyn, New York City, for $4 million. The vacant three-story property is situated at 794 Union St. It was originally built in 1920 and renovated in 1990. Naomi Shu of Marcus & Millichap’s Manhattan office represented both private parties in the transaction.
NEW PROVIDENCE, N.J. — Sweetwater Construction Corp. is serving as the general contractor for the new headquarters for the NJ Sharing Network, an organ procurement organization. The 47,000-square-foot tenant build-out will include a 7,000-square-foot fully accredited transplant testing laboratory, reception and waiting areas, interview rooms, locker rooms and showers, lunchroom, offices, mailroom and call center. The new facility, which is located at 691 Central Ave. in New Providence, is due to be completed in October. The construction manager for the project is The Walsh Company LLC of Morristown, N.J., and the architect is Posen Architects of West Orange, N.J., which specializes in medical and healthcare facilities.
ROSEVILLE, CALIF. — Bob Kuhl, Robb Osborne and Anton Qiu of TRI Commercial/CORFAC International have brokered the sale of a 60,000-square-foot medical office building situated on the campus of Sutter Roseville Medical Center in Roseville. Located at 5 Medical Dr., the two-story property was built in 2008. MOB 5 LLC (Group 1 & 2) sold the property to MOB 5 (Group 2) for $20.5 million. TRI Commercial represented both parties in the transaction.
CHALFONT, PA. — BPG Properties, Ltd. has sold a 5.52-acre pad site located within the company’s New Britain Corporate Center in Chalfont to OrthopaediCare. The healthcare practice, which acquired the site for $3.2 million, plans to construct a 30,000-square-foot facility that will offer orthopedic care, as well as physical and occupational therapy, and x-ray facilities. Construction is slated to begin in October, with completion in May 2010. New Britain Corporate Center is a 62-acre, master-planned office campus located near the intersection of County Line Road and Route 202. It already contains a 70,000-square-foot, build-to-suit office building that was developed for Chrysler Financial Services; a 50,000-square-foot, multi-tenant office building; a medical building for Children’s Hospital of Philadelphia; a life care center; and a day care center. The project is approved for up to 465,000 square feet of construction.
DALLAS — A joint venture between Passco Companies Development and Stoneleigh Capital Partners has completed Coit Medical Center, a Class A medical office building located in Dallas. The two-story facility totals 31,964 square feet and is situated within the city’s Medical Corridor. Passco expects that once the property is stabilized it will be sold as an investment property.
FLORISSANT, MO. — BJC HealthCare has selected St. Louis-based Paric to lead the $6.8 million expansion project at Northwest HealthCare in Florissant. The project consists of a two-story, 40,000-square-foot medical office building addition to the current facility on Graham Road. Construction is expected to begin in late 2010. Design partners include BSA Lifestructures, KAI and Grimes.