REBusinessOnline

VanTrust Sells 76,332 SF Medical Office Building in Overland Park, Kansas

OVERLAND PARK, KAN. — VanTrust Real Estate LLC has sold a 76,332-square-foot medical office building in Overland Park for an undisclosed price. The Class A property is located at 6650 W. 110th St. VanTrust developed the property in 2017. It is currently 92 percent occupied. Keith Baker of CBRE represented the buyer, Griffin-American Healthcare REIT IV Inc., a non-traded real estate investment trust. After the sale, CBRE was awarded leasing and property management assignments. Baker will …

Acquisitions, Healthcare, Kansas, Midwest

The Top Three Reasons Healthcare Real Estate is Recession-Resistant

This has been a roller coaster of a year when it comes to the economy, and many are talking about the potential of a recession happening very soon. According to the Conference Board Consumer Confidence Index, August has been just slightly down. Consumer spending makes up 70 percent of the U.S. economy. If sentiment moves down, consumers and purchasing managers begin to curtail spending and an economic slowdown is inevitable. Unfortunately, the more the news and articles focus on the …

Conference Coverage, Features, Healthcare

Atlantic Health System Buys Medical Office in Rockaway, New Jersey, for $26M

ROCKAWAY, N.J. — Atlantic Health System has purchased Morristown Medical Center Health Pavilion, a 92,326-square-foot medical office in Rockaway, located approximately 35 miles west of New York City, for $26 million. The building opened in 2016, and the Atlanta Health System was the sole occupant at the time of sale. JLL’s Jose Cruz and Ben Appel represented the seller in the

Acquisitions, Healthcare, New Jersey, Northeast, Office

BioMed Realty, UC San Diego Open $92M Center for Novel Therapeutics in San Diego

SAN DIEGO — BioMed Realty, a Blackstone portfolio company, and the University of California San Diego (UC San Diego) have opened the Center for Novel Therapeutics (CNT) on the UC San Diego Science Research Park campus. The 137,000-square-foot research hub leverages the strength of UC San Diego Moores Cancer Center with private sector companies looking to translate research into helping cancer patients worldwide. The development represents a $92 million investment by BioMed Realty. CNT …

California, Development, Healthcare, Office, Western

Banner Health Selects NexCore Group to Develop 130,000 SF Health Center in Arizona

GLENDALE, ARIZ. — Arizona-based Banner Health has selected NexCore Group, a national healthcare real estate firm, to develop its newest multi-specialty health center. Situated on 17.5 acres within the Aspera mixed-use development in Glendale, Banner Health Center will feature 130,000 square feet of medical office space. The three-story facility will offer clinical services including family medicine, pediatrics, orthopedics, general surgery, dermatology, gastroenterology, cardiology, …

Arizona, Development, Healthcare, Western

Bulfinch Negotiates Three Medical Office Leases Totaling 134,816 SF Near Boston

CAMBRIDGE, MASS. — Bulfinch Cos. has negotiated three medical office leases totaling 134,816-square-feet in Building 400-500 at the Cambridge Discovery Park (CDP) life sciences development in Cambridge. Arbor Biotechnologies, a genetic research firm, leased 36,171 square feet on the fifth floor. Kintai Therapeutics signed a deal for 72,296 square feet on the third and fourth floors. Simcere Innovation Inc., a medical research and development firm, has inked a lease for 26,349 square feet on …

Healthcare, Leasing Activity, Massachusetts, Northeast, Office

HCP Agrees to Purchase Life Sciences Building Near Boston from Davis Cos., Invesco for $332.5M

CAMBRIDGE, MASS. — HCP Inc. (NYSE: HCP), a healthcare and seniors housing REIT, has agreed to acquire a 224,000-square-foot life sciences building in the Cambridge submarket of Boston for $332.5 million. The Davis Cos. and Invesco Real Estate are selling the LEED Gold-certified property, which is located at 35 CambridgePark Drive. Known as Alewife Research Center, 35 CambridgePark Drive is fully leased to five life sciences firms. The leases have a weighted average term exceeding 10 years. …

Acquisitions, Healthcare, Massachusetts, Northeast, Office, Top Stories

Camelot West Commercial Negotiates $4.8M Sale of Medical Office Building in Tustin, California

TUSTIN, CALIF. — Camelot West Commercial has arranged the sale of Santa Ana – Tustin Medical Pavilion, a medical office building in Tustin. TKL Westminster acquired the property from Santa Ana Tustin Medical Pavilion LLC for $4.8 million with no concessions or repairs. Developed in 1968, the 17,594-square-foot building is located at 17400 Irvine Blvd. in Tustin. The building features 13 separate suites, each with examination rooms, lobbies, offices and private bathrooms. The building …

Acquisitions, California, Healthcare, Office, Western

REDA Sells Two-Building Medical Office Complex in Southern California

NEWPORT BEACH, CALIF. — Newport Beach-based Real Estate Development Associates (REDA) has completed the disposition of Newport Heights Medical Center (NHMC), a 59,978-square-foot Class A medical office campus located in Newport Beach. LaSalle Investment Management acquired the fully leased asset for an undisclosed price. Built in 2017, NHMC consists of Building One, a 18,303-square-foot building located at 20350 Birch St., and Building Two, a 41,675-square-foot asset located at 20360 Birch …

Acquisitions, California, Healthcare, Office, Western

Equity Completes 40,000 SF Medical Office Building Near Austin

LAKEWAY, TEXAS — Full-service real estate firm Equity has completed a 40,000-square-foot medical office building at 101 Medical Parkway in Lakeway, located northwest of Austin. The project represents Phase I of the Lakeway Medical Village development. The building is open for business and houses physician groups and outpatient service providers including Premier Family Physicians, Texas Orthopedics, Urology Austin and Texas PT

Development, Healthcare, Texas
Content Partners Alliant Credit Union
Lee & Associates
RED Capital Group

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