LIVERPOOL, N.Y. — Mark Rupprecht and Alan Gramet of Syracuse office of CB Richard Ellis have brokered the $3.7 million sale of the Clay Medical Center in Liverpool. The 36,000-square-foot medical office building is located at 8100 Oswego Rd. The facility was purchased by Parkview II Mezz from CMC Limited Partnership. Financing was provided by Wells Fargo Bank.
Healthcare
CARROLLTON, GA. — Atlanta-based Carter will develop a $26 million athletic complex for The University of West Georgia on a 200-acre site in Carrollton, Ga. The complex will feature a 9,000-seat football stadium, fitness facility, golf driving range, tennis courts and softball/baseball fields, as well as house athletic-administration offices and academic classrooms. The project is scheduled to open in the fall of 2009.
AVON AND AMHERST, OHIO — The Luttner Group of NAI Daus has completed two medical office sales in Ohio. In Avon, the company brokered the sale of the Cleveland Clinic Condo, an 18,423-square-foot medical office condo located at 36901 American Way, for $4.7 million, at a 7.06 percent capitalization rate. Mark Luttner of NAI listed the property on behalf of the buyer, and also secured and represented the seller. Both parties were undisclosed. In Amherst, Luttner represented the undisclosed buyer in the acquisition of Pinnacle Medical Building, a 10,585-square-foot medical office building located at 1170 Cleveland St., for $2.13 million, at a 7.22 percent capitalization rate. The seller was also undisclosed.
LINCOLNSHIRE, ILL. — Cambridge Realty Capital has provided $10.7 million in FHA-insured financing for The Wealshire, a 144-bed skilled nursing facility located in Lincolnshire. The fully amortized, permanent mortgage loan is for a 35-year term, and was arranged for the property’s owner, an Illinois-based limited partnership.
HOUSTON — Kirksey, a Houston-based architecture and design firm, has announced that Life Science Plaza, a healthcare facility located at 2130 W. Holcombe Blvd. in Houston, will officially top out Tuesday, Jan. 22, 2008. The seven-story building includes a parking garage, medical offices and a long-term acute care hospital. A public park is also in development for the west side of the project. The project is planned for LEED gold certification.
DALLAS — Ascension Group Architects, an Arlington, Texas-based design firm, has been awarded the design contract for Forest Park Medical Center to be located at the northeast corner of Central Expressway and Forest Lane in North Dallas. The 66,100-square-foot, two-story hospital project is estimated to cost $36.4 million. A multi-specialty group of local physicians is developing the hospital, and Physician Synergy Group will be the operation manager. Construction is set to begin later this month on the project, which is scheduled for completion in 2009.
SANTA ANA, CALIF. — Santa Ana-based Triple Net Properties, on behalf of tenant-in-common investors, has acquired the Eastern Wisconsin Medical portfolio, which consists of six Class A medical office buildings totaling approximately 153,000 square feet and is located in six different cities in eastern Wisconsin. The properties are leased by Aurora Medical Group, which has 15-year, triple-net leases for 100 percent of the space. The properties were sold by Aurora, which was represented by David Boerke and Jack Price of The Boerke Company. The acquisition price was not disclosed.
BETHLEHEM, PA. — Cogdell Spencer, a Charlotte, N.C.-based REIT, along with St. Luke’s Hospital and Health Network, is developing Riverside Outpatient Campus in Bethlehem. The $100 million project will feature a cancer center, an outpatient health care pavilion and two medical office buildings all totaling 383,000 square feet. Phase I includes the two medical office buildings, valued at between $35 and $40 million, which will be owned in a single investment entity by Cogdell Spencer and physician investors. Phase I will be situated on 55 acres at Freemansburg Avenue and Route 33. The balance of the project will be developed by Cogdell Spencer but owned by St. Luke’s, the primary tenant. The project is slated for completion third quarter 2009.
CHESTERFIELD, MO. — The joint venture of Grubb & Ellis Healthcare REIT and BD St. Louis Development, a subsidiary of Duke Realty Corp., has acquired Chesterfield Rehabilitation Center in Chesterfield. The 50-bed, three-story inpatient rehabilitation facility is located 22 miles west of St. Louis, and offers physical, brain and spinal cord rehabilitative services. Philip Mahler and Jeffrey Cooper with New York-based Savills Granite brokered the transaction. The acquisition price was not disclosed.
BETHLEHEM, PA. — Jackson Cross Partners has completed the $1.7 million sale of a 20,000-square-foot flex building in Bethlehem. The buyer, Eastern Pennsylvania Nephrology Associates, will use 4,000 square feet of space within the building for its operations and lease the remaining 10,000 square feet to Fresinius Medical Care North America and 6,000 square feet to RMS Lifeline Inc. MaryFrances McGarrity of Jackson Cross represented the buyer, and Frank Smith of Summit Realty and Management Co. represented the seller, Dennis Benner of Prime at City Line Road, in the transaction.