REBusinessOnline

Cushman & Wakefield Negotiates $160M Sale of Medical Office Tower in Metro D.C.

CHEVY CHASE, MD. — Cushman & Wakefield has negotiated the $160 million sale of the Barlow Building, an 18-story, 293,852-square-foot medical office building in Chevy Chase. Amenities at the property include valet parking, a fitness center on the top floor, deli, conference center and a courtyard that houses a Starbucks. The property is located at 5454 Wisconsin Ave., less than one mile from the Friendship Heights Metro Rail Station and six miles north of downtown Washington, D.C. The …

Spinnaker Brokers $5.4M Sale of Medical Office Building in Worcester, Massachusetts

WORCESTER, MASS. — Spinnaker Healthcare Advisors, a Rhode Island-based division of RE/MAX Commercial, has brokered the $5.4 million sale of Eastern Medical Center. The 23,000-square-foot medical office building is located in the Central Massachusetts city of Worcester. The property was built in 2006 and was fully leased at the time of sale. Andy Kushner and Mike Milano of Spinnaker represented the undisclosed seller and procured the buyer, Sood Realty Trust, in the

Premier Design + Build Completes 41,724 SF Medical Office Building in New Lenox, Illinois

NEW LENOX, ILL. — Premier Design + Build Group has completed construction of a two-story, 41,724-square-foot medical office building in New Lenox, about seven miles east of Joliet. HSA|Primecare was the developer. The ground floor of the property houses a Silver Cross urgent care facility as well as a primary care unit. Located at 1851 Silver Cross Blvd. across the street from Silver Cross Hospital’s Pavilion A & B, the new building is known as Pavilion D. The urgent care space features …

Galaxy, WBDC Acquire Land for $50M Biomanufacturing Facility in Worcester, Massachusetts

WORCESTER, MASS. — Massachusetts-based Galaxy Life Sciences, in partnership with the Worcester Business Development Corp. (WBDC), has acquired land for the development of a $50 million biomanufacturing facility in the Central Massachusetts city of Worcester. The facility will be situated on six acres within The Reactory, a 46-acre life sciences campus that is a redevelopment of a site formerly occupied by Worcester State Hospital. Infrastructure work on the site is expected to begin this …

E.E. Reed Breaks Ground on 122,000 SF Healthcare Project in Houston

HOUSTON — Locally based general contractor E.E. Reed Construction has broken ground on the Woman’s Hospital medical office building, a 122,000-square-foot healthcare property located within Houston’s Medical Center. Earl Swensson Associates designed the five-story project, which is expected to be complete in late 2021. Healthpeak Properties, a healthcare and seniors housing REIT based in Irvine, Calif., is the

Flagship Healthcare Trust Acquires 55,912 SF Medical Office Building in Hickory, North Carolina

HICKORY, N.C. — Flagship Healthcare Trust Inc. has acquired Tate Medical Commons IV, a 55,912-square-foot medical office building in Hickory. The Charlotte-based REIT will also manage the property, which was fully leased at the time of sale to tenants including Catawba Valley Medical Center and Catawba Women’s Center. The asset is situated at 1501 Tate Blvd. SE, next to Tate Medical Commons. First Horizon Bank provided acquisition financing on behalf of the buyer. The seller and sales price …

MedCore Partners Breaks Ground on 25,200 SF Bedford Medical Plaza Near Fort Worth

BEDFORD, TEXAS — Healthcare developer MedCore Partners has broken ground on the 25,200-square-foot Bedford Medical Plaza, located at the northwest corner of Hospital Parkway and Parkview Lane near Fort Worth. The building will be situated on 3.1 acres near Texas Health Harris Methodist Hurst-Euless-Bedford Hospital and is 100 percent preleased to multiple local practices. An expected completion date was not

SRS Arranges $5.9M Sale of Single-Tenant Healthcare Property in South Florida

GREENACRES, FLA. — SRS Real Estate Partners’ National Net Lease Group has arranged the $5.9 million sale of a property leased to ChenMed, a medical provider focused on the care of senior citizens. The 13,635-square-foot property is located at 4998 10th Ave., 10 miles southwest of downtown West Palm Beach. ChenMed’s lease is corporate-guaranteed and has nine years remaining. The property, which sits on three acres, was originally developed in 1999 for Walgreens, which occupied the space …

CVS Reports 35.2 Percent Revenue Increase in Second Quarter, Stock Up 20 Percent

WOONSOCKET, R.I. — CVS Health Corp. (NYSE: CVS) reported total revenue of $634 billion in the second quarter, a year-over-year increase of 35.2 percent. The company's net income also rose by 48 percent to roughly $5 billion during the period, suggesting that revenues are rising while costs are remaining relatively flat. The Woonsocket, Rhode Island-based pharmacy and convenience store chain, which acquired insurance giant AETNA in late 2018, saw its stock price open at $65.53 per share on …

McAllen Convention Center Becomes Temporary Healthcare Facility for COVID-19 Patients

MCALLEN, TEXAS — The administration of Texas Gov. Greg Abbott has converted the McAllen Convention Center, located in the Rio Grande Valley near Mexico, into a temporary healthcare facility for COVID-19 patients. Texas, one of the first states to reopen, has seen a sharp rise in COVID-19 cases in recent weeks, recording as many as 8,000 new cases per day during some stretches. The 174,000-square-foot facility has the capacity to house as many as 250 patients, but it opened on Tuesday with the …

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