LEE’S SUMMIT, MO. — Montecito Medical has acquired a 40,500-square-foot medical office building in Lee’s Summit near Kansas City. The fully leased property opened in 2020. Beacon Surgery Center, a joint venture between local physician partners and Partners Surgical, is the building’s primary tenant. Other tenants include Sano Orthopedics and Advanced Surgical Associates. The seller and sales price were not disclosed.
FORT WORTH, TEXAS — Locally based brokerage firm MedCore Partners has arranged the sale of the Texas Health Professional Building II, a 61,088-square-foot medical office building in Fort Worth. The property sits on 4.6 acres within the Texas Health Resources Alliance hospital campus and is primarily occupied by physicians of that provider, as well as Spine Team Texas. An institutional investor purchased the two-story building. The price was not disclosed.
WHEAT RIDGE, COLO. — DPC Development Co. has completed the disposition of Wilmore Center, a mixed-use building located at 7615 and 7777 W. 38th Ave. in Wheat Ridge. T-2 Ventures acquired the asset for $10.2 million. Originally built in the early 1980s, Wilmore Center features 52,743 square feet of retail and medical office space. At the time of sale, approximately 93 percent of the property was occupied by a mix of service and medical-oriented businesses. Jon Hendrickson and Aaron Johnson of Cushman & Wakefield’s Denver office represented the seller in the transaction.
WESTPORT, CONN. — CBRE has negotiated the sale of two medical office buildings and a boutique office building in Westport, located in the southern coastal part of the state, for a combined $19.4 million. Locally based investment firm HB Nitkin purchased the healthcare assets, which were 89 percent leased at the time of sale, while Greenhouse Offices purchased the third property. Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, David Gavin, Richard Gatto, Fahri Ozturk and Travis Langer of CBRE represented the seller, Leifer Properties, in the deals. CBRE also procured the buyer in the first transaction.
HOUSTON — A partnership between Denver-based developer NexCore Group and North Cypress Land Ventures (NCLV), a group of physician investors, has opened Doctors’ Pavilion, a 112,505-square-foot medical office building in Houston. The four-story building is situated on a 4.7-acre site within the HCA Houston Healthcare campus on the city’s northwest side and will house an array of specialty medical practices. Construction began in summer 2020. In addition to retaining ownership, NCLV physicians will occupy space within the property.
WEST VALLEY CITY, UTAH — Montecito Medical has acquired Granger Medical Clinic, a medical office building located in West Valley City, a suburb of Salt Lake City. Terms of the transaction were not released. Built in 2020, the asset features nearly 95,000 square feet of space. Granger Medical Clinic fully occupies the property. Physicians at the property provide a variety of medical services, including urgent care, cancer care, endocrinology, ENT, audiology, family medicine, gastroenterology, internal medicine, ophthalmology, orthopedics, sports medicine, pediatrics and urology. The building also includes an imaging center, lab and pharmacy.
AMHERST AND ORCHARD PARK, N.Y. — Excelsior Orthopaedics has refinanced a portfolio of four healthcare properties totaling 114,250 square feet near Buffalo with a $35.2 million loan. Specifically, the portfolio comprises three medical office buildings in Amherst and a surgery center in Orchard Park. The buildings were constructed between 2008 and 2016 and are 100 percent owner-occupied. Daniel Turley, Anthony Sardo and Brannan Knott of JLL arranged the seven-year, fixed-rate loan through Northwest Savings Bank.
ST. LOUIS PARK, MINN. — Minneapolis-based developer Davis has opened Xchange, a 78,000-square-foot medical office building located at 6099 Wayzata Blvd. in St. Louis Park, just west of Minneapolis. Davis acquired the site in 2015. Ear Nose & Throat Specialty Care and Surgical Specialty Center of Minnesota anchor the three-story property, leasing 60 percent of the space. OVO Lasik + Lens ophthalmology clinic and surgery center occupies a portion of the first floor, while Retina Consultants of Minnesota occupies the remaining space. The project includes a covered patient drop-off, a healing garden and 324 parking spaces, 51 of which are underground. The project team included Synergy Architecture Studio and Timco Construction Inc.
LAKE SUCCESS, N.Y. — Northwell Health, New York State’s largest health provider and private employer, has signed eight lease renewals totaling 32,413 square feet for an additional 10 years in Lake Success, located in Nassau County on Long Island. The practices of Northwell, which include primary care, gastroenterology and pulmonary disease, are spread among multiple floors at 2001 Marcus Avenue, a 214,000-square-foot medical office building. Kevin Driscoll represented the landlord, The Feil Organization, in the lease negotiations on an internal basis. Tom Ruggiero and Brian Palumbo provided in-house legal counsel to Feil, while David Leno provided counsel to Northwell Health on an internal basis.
AVENTURA, FLA. — Los Angeles-based Parkview Financial has provided a $45 million construction loan for a speculative medical office building located in Aventura, approximately 19 miles north of Miami. The borrower was an entity of Gomez Development Group. The medical office project will have 142,000 square feet of space. Located at 21291 N.E. 28th Ave. on 1.6 acres, the property will include a seven-story building, as well as a four-level parking garage with 346 spaces. The site is adjacent to the Aventura Hospital and Medical Center. Caymares Martin Architectural & Engineering Design is the project’s architect. A general contractor has not yet been announced. The project will break ground in early 2022 with completion slated for November 2022.
