HILLIARD AND COLUMBUS, OHIO — Columbus-based Alterra Real Estate Advisors has completed the sale of two Columbus-area medical office buildings for a total of $2.44 million. The first property is located at 5300 Nike Dr. in Hilliard and traded for $1.54 million. The second property is located at 1547 W. Broad St. in Columbus and traded for $900,000. Both properties are currently occupied by Mt. Carmel Health Systems. Brad Kitchen of Alterra represented the seller in both transactions, 36 Fiesta Lane LLC. The Nike Drive property was acquired by Golden Unity LLC, which was represented by Roya Ghodsi of ReMax Town Center. Acquisition financing was provided by US Bank. The Broad Street property was purchased by Andrew Tran of San Diego.
LOS ANGELES — Century City, Calif.-based Held Properties has completed the disposition of 100 UCLA Medical Plaza in Los Angeles. The Regents of the University of California acquired the property for $43 million. Located adjacent to the Ronald Reagan UCLA Medical Center at the entrance to the UCLA campus, the seven-story, 123,000-square-foot medical center is currently 100 percent leased at the time of acquisition. Held Properties and construction partner Jones Brothers completed the 100 UCLA Medical Plaza in 1991.
ZEPHYRHILLS, FLA. — Fort Myers, Fla.-based Stevens Construction has begun its renovation of the 7,500-square-foot Twelve Oaks Medical Office building. After the project is complete, the property, located at 6748 Gall Blvd. in Zephyrhills, will house an orthopedic medical practice. Stevens’ duties include interior demolition, full reconstruction and the installation of a new sprinkler system. Delivery is expected this fall.
GERMANTOWN, MD. — Rockville, Md.-based Fisher BioServices has signed a 7-year lease with Minkoff Development Corp. for 20,249 square feet of space in the former MiddleBrook Pharmaceuticals building. The 53,054-square-foot property is located in the Seneca Medows Corporate Center at 20439 Seneca Meadows Parkway in Germantown. Henry Bernstein and Matt Brady of Scheer Partners negotiated a release of MiddleBrook’s current lease so Fischer could move into the building on October 1.
BARRINGTON, ILL. — The Pepper Family Hospice Home and Center for Care has broken ground in Barrington, with completion scheduled for spring 2010. The 47,000-square-foot facility will offer care for acute and complicated patients that can no longer receive in-home care. The building will be one of the first green hospices in the country, and is designed to achieve LEED Silver certification, as well as incorporating guidance from the Green Guide for Healthcare, a sustainable building toolkit specifically for the healthcare sector. Harley Ellis Devereaux and Hospice Design Resources partnered to provide architectural services. Pepper Construction is the general contractor and Hospice of Northeastern Illinois is the owner/developer of the $18 million endeavor.
ADDISON, TEXAS — The groundbreaking has been held for the new Methodist Hospital for Special Surgery, located in Addison. Phase I of the project will include the construction of the 105,000-square-foot surgery facility. It will feature seven fully equipped operating rooms, 32 private patient rooms, 10 outpatient treatment rooms, a diagnostic imaging suite that will include CT and MRI machines, and physical therapy and rehabilitation services. Completion is scheduled for fall 2010. The project is a joint venture between area physicians, Methodist Health System and Nueterra Healthcare. The project marks Dallas-based Methodist Health System’s expansion into the Addison area.
FAIRFAX, VA. — White Plains, N.Y.-based Seavest and Chicago-based Lillibridge have completed the 107,000-square-foot Inova Fair Oaks III medical office building on the campus of Inova Fair Oaks Hospital. The four-story building, which is located at 3620 Joseph Siewick Dr. in Fairfax, is 80 percent occupied. Inova Fair Oaks III includes a surgical suite and houses diagnostic, orthopedic, cardiology, otolaryngology, gastroenterology and bariatric services.
MEQUON AND FRANKLIN, WIS. — Grubb & Ellis Healthcare REIT has acquired Wisconsin Medical Office Buildings Portfolio 2, a healthcare portfolio located in the greater Milwaukee area. The portfolio contains two ambulatory surgery centers located in Mequon and Franklin. Together, the buildings total approximately 130,000 square feet, and were constructed in 2001 and 2004. Grub & Ellis acquired the portfolio as part of a sale/leaseback transaction with Aurora Health Care. It is the second such transaction between the two companies. The purchase was negotiated by Grubb & Ellis Healthcare REIT’s in-house acquisition team, with assistance from Grubb & Ellis Healthcare REIT Advisor LLC. The acquisition price was not disclosed.
DALLAS — A partnership formed by Dallas/Fort Worth-based Realty Capital Partners (RCP) has invested $4.9 million for the development of an inpatient rehabilitation facility in North Dallas. The 60-room facility will be located on 2.4 acres near the intersection of U.S. Highway 75 and Northaven Road. The developer, The Cirrus Group, has signed a 25-year lease with Reliant Rehabilitation Hospital Dallas to occupy the entire 64,500-square-foot building. The Cirrus Group has selected Perkins+Will as the project architect; Hill & Wilkinson is the general contractor. Demolition of the existing building is under way, and construction is expected to take 11 months.
CHEHALIS, WASH. — Providence Health & Services of Washington has completed the disposition of the former Chehalis Hospital in Chehalis. The 66,200-square-foot property sold to a Spokane, Wash., developer for $2.5 million. Evan Parker, Ted Sipila and Amy Robinson of GVA Kidder Mathews represented the seller in the transaction.