ST. LOUIS — Marcus & Millichap has arranged the sale of a 62,856-square-foot medical office property located at 5500 S. Broadway St. in St. Louis for $6.3 million. The building was constructed in 2001 and previously operated as the Riverview Nursing Facility. Dan Yozwiak and Darpan Patel of Marcus & Millichap represented the undisclosed buyer, which plans to renovate and repurpose the building as a behavioral health center. The seller was a local husband-and-wife ownership group.
ENGLEWOOD, COLO. — IRA Capital has acquired Reunion Inverness Physical Rehabilitation Hospital, a Class A inpatient rehabilitation facility (IRF) in Englewood, from a partnership between American Development & Investments, Brandon Holdings and Nobis Hospital Investments. Terms of the acquisition were not disclosed. Located at 372 Inverness Drive South, the three-story, 49,000-square-foot building is fully leased by Reunion Rehabilitation Hospitals on an absolute net lease structure with 22 years remaining. The purpose-built facility features 40 patient beds with scalability to 60 beds, two advanced therapy gyms, private patient rooms, outdoor courtyards, family gathering areas and a full-service café. John Witt and Ben Swanson of Quiver Investment, along with Chris Toci and Eric Wichterman of Cushman & Wakefield, represented the seller in the deal. Nobis Rehabilitation Partners, a third-party healthcare operator and manager, operates the Inverness facility.
NEW YORK CITY — International development and construction firm Skanska has completed the renovation of the Hospital for Special Surgery Sports Medicine Institute West Side in Midtown Manhattan. The project transformed the fourth floor of the facility into an outpatient clinic and introduced 15 new exam rooms, offices and a storage area. Skanska, working with Batska Consulting Group, also upgraded the building’s mechanical, electrical and plumbing systems to accommodate the new operations. Additional improvements included the integration of a new X-ray room and an ultrasound-guided injection exam room. Construction began in August 2024.
TEMPLE AND BELTON, TEXAS — Dallas-based Kobalt Investment Co. has purchased a portfolio of three medical office buildings totaling 31,545 square feet in Central Texas. The buildings, which were developed in 2013, are all leased to Baylor Scott & White Health, with one facility located in Temple and the other two structures located in Belton. Seth Gilford of Transwestern represented Kobalt in the transaction. The seller and sales price were not disclosed.
SCOTTSDALE, ARIZ. — Cushman & Wakefield has advised an Arizona-based commercial real estate investment company in securing $37.1 million of financing for the previously announced acquisition of Scottsdale Centre Medical, a 163,311-square-foot medical outpatient building in Scottsdale. Tyler Morss of Cushman & Wakefield arranged the financing for the buyer. The lender was Arizona-based Foothills Bank, a division of Glacier Bank, which is owned by Glacier Bancorp.
LONDON, KY. — Lexington-based NAI Isaac has arranged a lease with Baptist Health, a not-for-profit healthcare system, at a 30,000-square-foot medical facility in London in southeast Kentucky. Adjacent to the London Women’s Care Medical Plaza, the three-story building was built in 1992 and is located at 1406 W. Fifth St. Paul Ray Smith Jr. and Zach Smith of NAI Isaac represented the landlord in the lease negotiations.
SAN DIEGO — Locally based health system Scripps Health has completed the development of a new hospital located in the La Jolla neighborhood of San Diego. Construction costs totaled $664 million. Dubbed Scripps Memorial Hospital La Jolla North Tower, the building totals 420,000 square feet across eight floors. The property is situated on the Scripps Memorial Hospital La Jolla campus, about 15 miles north of downtown San Diego. Designed by HGA Architects, the hospital building features 188 inpatient beds, a rooftop helistop, nine operating rooms, three interventional radiology suites, expanded imaging capabilities, a NICU (neonatal intensive care unit), labor and delivery section and postpartum services. McCarthy Building Cos. served as the general contractor for the tower, which is directly connected to the Prebys Cardiovascular Institute, also constructed by McCarthy. According to Scripps Health, the tower was planned and constructed over eight years. Financing for the project included a $2.5 million gift from philanthropist Barbara Smith. Scripps Health, a $5 billion not-for-profit health system, operates four hospitals on five campuses. — Hayden Spiess
BEMIDJI, MINN. — Kraus-Anderson has completed a $3.3 million physical therapy clinic for Sanford Health in Bemidji, a city in northern Minnesota. The 23,000-square-foot project involved the conversion of an existing call center into a fully equipped clinic with dedicated areas for rehabilitation and wellness. Designed by EAPC Architects Engineers, the facility features semi-private treatment rooms for individualized patient care; sensory and pediatric gyms designed for child-focused therapy and rehabilitation; an adult fitness area equipped for strength-building and mobility improvement; and a specialized cardio gym to enhance patient care and recovery. The project also includes physical therapy treatment and neuro therapy spaces, office workspaces and support staff areas. Exterior improvements will include a new playground and redesigned employee entrance.
STEPHENVILLE, TEXAS — Silver Oak Commercial Realty has arranged the sale of a 6,898-square-foot medical office building in Stephenville, about 75 miles southwest of Fort Worth. Liberty Dialysis anchors the building at 946 Bluebonnet St., which was fully leased at the time of sale. An entity doing business as Midlothian 67 Partners LLC sold the building to Namy Properties LLC for an undisclosed price. Russ Webb and LeAnn Brown of Silver Oak, along with Jim Turano of Henry S. Miller, brokered the deal.
ROLLA, MO. — Phelps Health has opened its new Emergency Medical Services (EMS) base in Rolla, a city in central Missouri in the heart of the Ozarks. McCarthy Building Cos. Inc. constructed the 17,500-square-foot building, which replaces an aging EMS station. Located on the main Phelps Health campus, the new base was partially funded by a $4 million American Rescue Plan Act grant from the State of Missouri. The site brings EMS teams closer to the emergency department while maintaining easy access to I-44. The building includes eight ambulance bays, a second helicopter landing pad, 16 bunk rooms for staff and crew, dedicated training rooms, amenities to support continuing education and extended shifts, and a tornado storm shelter.
