Monday, April 14, 2025
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Healthcare

AcquisitionsHealthcareMidwestWisconsin

CBRE Brokers Sale of 23,805 SF Calhoun Health Center in Brookfield, Wisconsin

by Kristin Harlow

BROOKFIELD, WIS. — CBRE has brokered the sale of the 23,805-square-foot Calhoun Health Center in the Milwaukee suburb of Brookfield for an undisclosed price. The Class A medical office building is located at 1905 N. Calhoun Road and is fully leased and anchored by Froedtert ThedaCare Health in partnership with the Medical College of Wisconsin. The facility was completed in 2016. Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Trent Jemmett, Jesse Greshin and Devin Tessmer of CBRE represented the seller. The buyer was Chicago-based Remedy Medical Properties in a joint venture with Kayne Anderson Real Estate.

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DevelopmentHealthcareNew YorkNortheastOffice

Atkins Cos., Denholtz Complete Phase I of Renovation of 490,000 SF Office, Healthcare Facility in Chappaqua, New York

by Taylor Williams

CHAPPAQUA, N.Y. — A partnership between two New Jersey-based firms, Atkins Cos. and Denholtz, has completed Phase I of the renovation of Medical Offices at Chappaqua Crossing, a 490,000-square-foot office and healthcare complex located about 30 miles north of Manhattan. Northwell Health’s Northern Westchester Hospital anchors the 59-acre facility, which is located within a larger mixed-use development that formerly housed the headquarters of Reader’s Digest and is known as Chappaqua Crossing. The renovation upgraded the property’s common areas with new LED lighting, ceilings, flooring, lobby furniture, paint/wallpaper and moss wall coverings. In addition, a $6 million upgrade of HVAC systems is currently underway. The partnership acquired the property in April 2023 for $40 million.

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AcquisitionsFloridaHealthcareSoutheast

Colliers Facilitates $9.7M Sale of Medical Office Building in Delray Beach, Florida

by John Nelson

DELRAY BEACH, FLA. — Colliers has facilitated the $9.7 million sale of a medical office building located at 66446 W. Atlantic Ave. in Delray Beach, roughly 23 miles south of West Palm Beach. The 16,761-square-foot property, which was renovated in 2020, was fully leased at the time of sale and serves as a surgery center with two operating rooms and three treatment rooms. The facility’s first floor is leased to a multi-specialty physician group, Medical Specialists of the Palm Beaches, and the top two levels are leased to an ambulatory healthcare provider, Minimally Invasive SurgiCenter. Mark Rubin, Bastian Schauer and Gary Gottlieb of Colliers represented the undisclosed seller in the transaction. The buyer, Alliance Consolidated Group of Cos. LLC, was self-represented.

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DevelopmentHealthcareIllinoisMidwest

Keeley Construction Completes 19,475 SF Hanger Clinic Facility in Schaumburg, Illinois

by Kristin Harlow

SCHAUMBURG, ILL. — Keeley Construction has completed a 19,475-square-foot Integrated Care Center (ICC) for Hanger Clinic in the Chicago suburb of Schaumburg. The new facility is located at 640 E. Golf Road. Hanger Clinic is a provider of orthotic and prosthetic solutions, with more than 900 locations across the country. The new ICC is designed to elevate patient care for individuals with limb loss, limb difference and other physical disabilities. The clinic features a rock-climbing wall, gym area, golf simulator, running track, kitchen and demo apartment. The amenities provide patients with the opportunity to test various prosthetic technologies in real-life scenarios. The ICC also features multiple medical exam rooms, dedicated office space with a Clinician Collaboration Center, a reception and waiting area and onsite fabrication lab. Sarfatty Associates was the architect, Ware Malcomb served as interior designer and Cushman & Wakefield was the broker’s/owner’s representative.

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3300-Irvine-Ave-Newport-Beach-CA
CaliforniaDevelopmentHealthcareWestern

Archer, REDA to Redevelop 78,000 SF Office Building in Newport Beach, California into Medical Outpatient Property

by Amy Works

NEWPORT BEACH, CALIF. — A joint venture between Archer Property Partners and Real Estate Development Associates (REDA) has approval from the Newport Beach Planning Commission to redevelop the 78,000-square-foot office building at 3300 Irvine Ave. in Newport Beach into Newport Irvine Medical Center. The joint venture originally acquired the asset in 2023 for $18.5 million. The three-story Newport Irvine Medical Center will feature a three-story atrium, modernized common areas and elevators and a flexible, future-proof design to adapt for changing medical technologies and patient needs. The partnership plans to break ground on the project’s new parking structure in June and begin full building renovations in September, with project completion slated for spring 2026 and tenant move-ins in summer 2026. MedWest Realty will handling leasing for Newport Irvine Medical Center.

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2200-Garden-Rd-Monterey-CA
AcquisitionsCaliforniaHealthcareRetailWestern

Levin Johnston Negotiates Sale of 19,102 SF Retail Building in Monterey, California

by Amy Works

MONTEREY, CALIF. — Levin Johnston of Marcus & Millichap has arranged the sale of a two-tenant medical and retail building in Monterey. A private investor purchased the asset from an undisclosed seller as part of a 1031 exchange transaction. Located at 2200 Garden Road, the two-tenant property offers 19,102 square feet of medical and retail space. The asset is fully occupied by BluePearl on a 13-year net lease, and the federal government, which has occupied the building since 2015. Built in 1984 and renovated in 2015 and 2022, the property features two grade-level doors and one dock platform, as well as ample onsite parking. Robert Johnston and Adam Levin of Levin Johnston of Marcus & Millichap, along with Mitchell Zurich of Marcus & Millichap, represented the buyer in the transaction.

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AcquisitionsHealthcareSoutheastTennessee

Flagship Healthcare Acquires 27,657 SF Medical Office Facility in Chattanooga

by John Nelson

CHATTANOOGA, TENN. — Flagship Healthcare Properties has acquired East Ridge Physicians Building, a 27,657-square-foot medical outpatient building located at 929 Spring Creek Road in Chattanooga. Situated adjacent to the 128-bed HCA Parkridge East Hospital, the Class A facility was fully leased at the time of sale. The buyer acquired the property through its private REIT, Flagship Healthcare Trust. The seller and sales price were not disclosed. Built in 1985, East Ridge Physicians Building’s interior and exterior were renovated last year by the previous owner. Flagship will provide property management and asset management services for the facility.

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AlabamaHealthcareLoansSoutheast

First Citizens Bank Provides $53.5M Loan to Refinance Medical Office Facility in Birmingham

by John Nelson

BIRMINGHAM, ALA. — First Citizens Bank’s healthcare finance division, First Citizens Healthcare Finance, has provided a $53.5 million loan to refinance Grandview Physicians Plaza II, a 140,000-square-foot medical office facility located in Birmingham. The borrower was an affiliate of Rethink Healthcare Real Estate. Constructed in 2022, Grandview Physicians Plaza II is situated within the Grandview Medical Center Campus that occupies Affinity Hospital and Grandview Plaza I. Grandview Plaza II completes the primary medical campus for Grandview Health, which has signed a long-term anchor tenant lease for physician offices and hospital services. First Citizens Healthcare Finance also provided takeout financing for Grandview Physicians Plaza I in 2024.

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Kedren-Childrens-Village-Los-Angeles-CA
CaliforniaDevelopmentHealthcareWestern

McCarthy, HOK Break Ground on $145M Kedren Children’s Village Behavioral Health Hospital in Los Angeles

by Amy Works

LOS ANGELES — McCarthy Building Co. and HOK, as the design-build team, have broken ground on Kedren Children’s Village for Kedren Community Health Center Inc. in the Watts neighborhood of Los Angeles. Once complete, the $145 million Kedren Children’s Village will be one of the few pediatric-focused behavioral hospitals in the country and the first comprehensive behavioral health facility in South Los Angeles. Slated for completion in summer 2027, the 103,000-square-foot campus will include three main buildings — an inpatient psychiatric facility, outpatient services including primary, urgent care and pharmacy services, and a transitional housing development. The 24-unit transitional housing development is intended for families of patients receiving care, along with homeless families or individuals served by Kedren’s mental health programs and community outreach in need of temporary accommodations. Additionally, the campus will feature a parking structure, a physical therapy gym and an outdoor garden to offer therapeutic and recreational areas for patients’ enjoyment. McCarthy’s design-build services include self-perform concrete, utility and drywall installation, McCarthy Mapping, parking solutions and landscape design. The company will also provide its EQUIP service, an integrated healthcare build approach that includes equipment planning services coordinated from beginning to end, effectively reducing delays and costs down the …

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AcquisitionsArizonaHealthcareOfficeWestern

Cushman & Wakefield | PICOR Brokers $6.1M Sale of Medical Office Portfolio in Tucson, Arizona

by Amy Works

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of a multi-property medical office portfolio in Tucson. A private investment group acquired the asset from an undisclosed investment REIT for $6.1 million. The 42,722-square-foot portfolio consists of multiple leased medical buildings at 4892 N. Stone Ave. and the Green Valley Medical Mall at 1055 N. La Canada Drive. Thomas Nieman and Bryce Horner of Cushman & Wakefield | PICOR represented the seller in the deal.

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