REBusinessOnline

Wheelock, Camber Buy Life Sciences Building in Northborough, Massachusetts, for $33M

NORTHBOROUGH, MASS. — A joint venture between Connecticut-based Wheelock Street Capital and Camber Development has purchased Sanofi Genzyme’s Northborough Global Operations Center, a 212,000-square-foot life sciences building in Northborough, located outside of Worcester. The sales price was $33 million. The property is situated on a 19.3-acre site and was fully leased at the time of sale. Coleman Benedict, Matthew Sherry, Ben Sayles, Michael Restivo and Corbin Stall of JLL represented the …

Stan Johnson Brokers $10M Sale of Village Medical Plaza in Fayetteville, North Carolina

FAYETTEVILLE, N.C. — Stan Johnson Co. has brokered the $10 million sale of a 28,434-square-foot, multi-tenant medical office building located at 3401 Village Drive in Fayetteville. Stan Johnson’s Scott Briggs represented the seller, an individual investor and developer based in North Carolina. The property, known as Village Medical Plaza, was purchased by an out-of-state private fund whose name was not disclosed.Village Medical Plaza features both medical and traditional office space …

JLL Income Property Trust Buys 147,000 SF Life Sciences Building in Florham Park, New Jersey

FLORHAM PARK, N.J. — JLL Income Property Trust has acquired 170 Park Avenue, a 147,000-square-foot life sciences building in the Northern New Jersey city of Florham Park. The sales price was approximately $47 million. The property is net leased on a long-term basis to biotechnology firm Celularity Inc. Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Gene Pride, Travis Langer, Zach McHale and Tom Sullivan of CBRE represented the undisclosed institutional seller. With this …

Davis to Develop 40,000 SF Medical Office Building in Suburban Minneapolis

BROOKLYN PARK, MINN. — Minneapolis-based Davis has been selected by Allina Health and Surgical Care Affiliates to develop and own the venture’s first ambulatory surgery center in Brooklyn Park, a northwest suburb of the Twin Cities. Davis expects to break ground in late April or early May on the two-story, 40,000-square-foot project. Allina and Surgical Care Affiliates will lease 18,000 square feet on the second floor. The project team includes Plymouth, Minn.-based Timco Construction Inc. …

Novant Health Plans $222M Hospital Expansion in Winston-Salem, North Carolina

WINSTON-SALEM, N.C. — Novant Health, an integrated network of physician clinics, outpatient centers and hospitals, has invested $222 million for a new critical care building in Winston-Salem. The development is a part of expansions and renovations at Novant Health Forsyth Medical Center campus, located at 3333 Silas Creek Parkway.The new building will be constructed on the current site of the rehabilitation center, which is being demolished. The expansion will feature 60 critical care …

Nutex Health Buys Gilbert Emergency Hospital in Arizona for $10.5M

GILBERT, ARIZ. — Houston-based Nutex Health, a service provider and management firm in the micro-hospital and freestanding emergency room industry, has acquired Gilbert Emergency Hospital, a medical facility located at 5656 S. Power Road in Gilbert. MPT Operating Partnership LP DBA MPT of Gilbert LLC sold the asset for $10.5 million.Built in 2005, the 31,452-square-foot medical office serves as a privately run emergency facility with 42 acute-care beds.The property is Nutex’s third …

O,R&L Arranges Sale of 24,272 SF Medical Office Building in East Haven, Connecticut

EAST HAVEN, CONN. — Connecticut-based brokerage firm O,R&L Commercial has arranged the sale of a 24,272-square-foot medical office building in East Haven, located in the southern coastal part of the state. The property was fully leased at the time of sale. Frank Hird of O,R&L Commercial represented the seller and the buyer in the $2.5 million transaction. Both parties were limited liability

CVS Reports $69.5B in Fourth-Quarter Revenue, Beats Analysts’ Expectations

WOONSOCKET, R.I. — CVS Health Corp. (NYSE: CVS) reported fourth-quarter revenue of $69.5 billion, exceeding the $68.7 billion projected by analysts, as the Rhode Island-based drugstore and pharmacy expanded its COVID-19 testing and vaccination services. CVS also reported quarterly net income of $975 million, down from $1.7 billion in the fourth quarter of 2019. In addressing the earnings report, CEO Karen Lynch said that the company expects to roll out a wider range of healthcare services in …

Avison Young Brokers $4.4M Sale of Two-Building Medical Office Center in Downey, California

DOWNEY, CALIF. — Avison Young has arranged the sale of a vacant, two-building medical office property located at 8600 and 8630 Florence Ave. in Downey. An entity of The Whole Child (TWC) acquired the property from a Los Angeles-based private investor for $4.4 million.Built in 1969 on one acre, the 15,213-square-foot property, which was formerly used as a dialysis center, features a reception area, lunch room and restrooms. The buyer plans to use the larger building, which is just over …

Avison Young Capital Markets Negotiates $57M Sale-Leaseback of Wellness Campus Near Vail, Colorado

EDWARDS, COLO. — Avison Young Capital Markets has arranged the sale-leaseback of All Points North Lodge, a comprehensive wellness and treatment campus in Edwards, approximately 20 minutes west of Vail.WC Acquisition Holdings LLC acquired the asset from All Points North Lodge (APN Lodge) for $57 million. The seller will lease back the building as part of a long-term deal.Opened in March 2020, the 77,000-square-foot facility offers addiction and mental health treatments, trauma therapy, …

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