Healthcare Archives - REBusinessOnline

JLL Brokers Sales of Two Medical Office Buildings in Scottsdale, Arizona

Amy Works — Mon, 02 Mar 2026 14:49:32 +0000

SCOTTSDALE, ARIZ. — JLL Capital Markets has arranged the sales of Pima I and Pima II, two medical office buildings in Scottsdale. Cypress West Partners acquired Pima I, and a private investor purchased Pima II. Terms of the transactions were not released. The assets are situated on 14.6 acres at 8415 N. Pima Road and 8466 N. Pima Road. Pima I is a two-story, 91,212-square-foot medical building that is 92 percent leased to national, regional and local medical users providing a range of specialties, including ambulatory surgery. Pima II is a vacant, two-story medical and/or professional building totaling 89,983 square feet. The property was formerly the headquarters of Rural Metro Fire. JLL’s Medical Properties Group, in collaboration with the local office, represented the undisclosed seller and procured the two separate buyers.

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UM-Board of Regents Approves $143M Behavioral Health, Ambulatory Surgery Centers in Lansing

Kristin Harlow — Fri, 27 Feb 2026 14:02:12 +0000

LANSING, MICH. — The University of Michigan Board of Regents has approved two projects for mental health resources and certain surgical procedures in mid-Michigan. UM Health-Sparrow is building a behavioral health hospital and an ambulatory surgery center in Lansing. Groundbreakings are scheduled this summer, with plans to open each facility in 2028. The behavioral health hospital will be located in a park-like setting. The building is slated for vacant UM Health-Sparrow-owned property behind the Lansing hospital near Pennsylvania Avenue and Jerome Street. The 64-bed, $83 million facility will serve adult, geriatric, child and adolescent patients. UM-Health is collaborating with Sheppard Pratt, the nation’s largest private, nonprofit provider of behavioral health/substance abuse services, to manage the new hospital and behavioral health services. The $60 million UM Health-Sparrow Lansing Ambulatory Surgery Center will be located west of the Lansing hospital near Michigan and Pennsylvania avenues. The outpatient facility will feature four operating rooms at the start, with options to expand. The new surgery center will care for patients currently undergoing procedures at the 100-year-old St. Lawrence campus and will handle some cases currently performed at the Lansing hospital. Cardiac patients will also benefit from a new MRI planned for the facility.

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BGO Acquires 30,000 SF Healthcare Clinic in Londonderry, New Hampshire

Taylor Williams — Wed, 25 Feb 2026 14:54:25 +0000

LONDONDERRY, N.H. — BGO, the institutional investment firm formerly known as BentallGreenOak, has acquired a 30,000-square-foot healthcare clinic in Londonderry, located near the Massachusetts-New Hampshire border. Known as Lahey Medical Center, the building was completed in 2025 as a purpose-built facility for regional provider Beth Israel Lahey Health. Practices housed within the facility include oncology, infusion, cardiology, gastroenterology and neurology.

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Goodbye Retail, Hello Medical Malls: How Adaptive Reuse Can Accelerate Healthcare Development

Taylor Williams — Tue, 24 Feb 2026 12:31:00 +0000

By Aran McCarthy, president, FCA Healthcare providers and designers of those facilities are dedicated to creating spaces that meet the ever-growing demand for their services. Despite this desire, cities and towns nationwide are struggling to meet the needs of their growing populations. According to the Health Resources and Services Administration, as of January, there are more than 4,800 health professional shortage areas (HPSAs) for primary care facilities in the country. This disconnect between the need for care and the number of facilities equipped to support delivery of said care is on full display, and therein lies opportunity. Markets across the country are simultaneously dealing with a very different challenge; changes in consumer habits have created vacancies within retail real estate. In response to these trends, healthcare designers and system leaders have recognized that the adaptive reuse of former retail properties into “medical malls” offers a practical solution to increasing access to care. This approach prioritizes speed to market and cost efficiency for operators and also enhances community access without the long and costly timelines associated with new construction. Physical Synergy: Repositioning Retail for for Healthcare The physical features associated with many big-box retail locations make them particularly well-suited for healthcare…

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McCarthy Completes Construction of $105M Hospital in Colby, Kansas

Kristin Harlow — Mon, 23 Feb 2026 15:40:26 +0000

COLBY, KAN. — McCarthy Building Cos. has completed a new medical center replacement hospital for Citizens Health in Colby, a city in rural northwest Kansas. HFG Architects designed the facility. Located adjacent to the existing property, the campus consolidates Citizens Medical Center’s services into a single location. The 171,000-square-foot, 25-bed hospital represents a $105 million investment and serves as the only hospital between Hays, Kan., and Denver. The facility includes a full-service emergency department, inpatient beds, a surgery department with an orthopedic focus featuring four operating rooms and multiple procedure rooms, a clinic for 30 physicians and comprehensive support services, including dietary, laboratory, radiology, physical therapy and oncology. The property is among the nation’s largest hospitals funded through the U.S. Department of Agriculture’s Critical Access Hospital program. Additional project partners include Farris Engineering, BHC Engineering, Apex Engineering, Rand Mechanical, Bart’s Electric, Midwest Drywall, Hi-Plain Doors, Dunlap Concrete and Pryor Fire Sprinkler. Sporer Land Development completed mass grading.

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Terramed Acquires BluePearl Pet Hospital in Appleton, Wisconsin for $7.1M

Kristin Harlow — Fri, 20 Feb 2026 14:00:00 +0000

APPLETON, WIS. — Terramed Real Estate Solutions has acquired BluePearl Pet Hospital Fox Valley, a veterinary facility in Appleton within Wisconsin’s Fox Valley, for $7.1 million. The 32,232-square-foot emergency, specialty and urgent care property is the only 24-hour veterinary hospital in East Central Wisconsin. The transaction included the renegotiation of a new 10-year lease. The hospital’s team of 20 veterinarians offers orthopedic and soft-tissue surgery, internal medicine, dermatology, oncology, medical imaging and other advanced services. Terramed now holds a national portfolio of nearly 2 million square feet of medical real estate.

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Drexel University to Open 150,741 SF Healthcare, Life Sciences Facility in Philadelphia

Taylor Williams — Wed, 18 Feb 2026 14:39:11 +0000

PHILADELPHIA — Drexel University will open a 150,741-square-foot healthcare and life sciences facility in Philadelphia’s University City area. The space spans four of the 11 stories within the building at 3201 Cuthbert St., which is adjacent to Drexel’s campus. The university plans to consolidate the entirety of its research and laboratory operations within the Drexel University College of Medicine in the new building, which was designed by Robert A.M. Stern Architects and is owned by a partnership between Gattuso Development Partners and Vigilant Holdings Occupancy is slated for mid-2027.

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Swinerton Breaks Ground on $5.5M Medical Office Building in Pineville, North Carolina

John Nelson — Wed, 11 Feb 2026 14:11:37 +0000

PINEVILLE, N.C. — Swinerton Builders’ Carolinas division has broken ground on a $5.5 million medical office building located at 10425 Good Sell Court in Pineville, about 14 miles south of Charlotte. Locally based Metrolina Dermatology will occupy the 8,000-square-foot property upon completion, which is expected in early spring. Situated on 1.2 acres, the medical office building will feature 11 exam rooms, two aesthetic rooms, four Mohs exam rooms, one Mohs lab, a sterilization room, four offices and up to five medical assistant/nursing stations, as well as a welcoming lobby/waiting area and an employee breakroom. (Mohs is a specialized technique used to remove skin cancers.) Outside, the property will feature an asphalt parking lot for 40 to 50 cars. The design-build team includes Nelson Worldwide Architects, Cornerstone Architecture, LJB Engineering and Kimley-Horn.

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Ware Malcomb Completes Design of 3,500 SF Outpatient Office for Romeo Orthopaedics in Suburban Chicago

Kristin Harlow — Tue, 10 Feb 2026 15:32:31 +0000

BURR RIDGE, ILL. — Ware Malcomb has completed the interior architecture and design, along with branding services, for the 3,500-square-foot outpatient office for Romeo Orthopaedics in Burr Ridge. Romeo Orthopaedics specializes in the management and surgical treatment of shoulder, elbow and sports medicine conditions. Ware Malcomb worked in partnership with the building owner, C.R. Panico & Associates, to complete the project. The project scope of work encompassed minor demolition, new walls and doors, power and data installation, updated ceilings and lighting, finishes and custom millwork. A dedicated X-ray suite required close coordination with specialty consultants to address equipment clearances, shielding requirements and infrastructure integration, ensuring compliance with clinical and safety standards. Morgan/Harbour Construction was the general contractor.

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County of Riverside Buys Two Medical Office Buildings in California for $53M

Amy Works — Mon, 09 Feb 2026 13:05:20 +0000

RIVERSIDE COUNTY, CALIF. — The County of Riverside has acquired two fully leased medical office buildings in Riverside County for a combined total of $53 million. The asset, located at 8876 Mission Blvd. in Jurupa Valley, Calif., sold for $25 million, and the property at 2813 S. Main St. in Corona sold for $28 million. Jurupa Valley Community Health Center is a single-story, 40,000-square-foot medical outpatient building built in 2019. The property is fully leased to the County of Riverside, dba Riverside University Health System (RUHS), under a long-term lease. RUHS also fully occupies the two-story, 45,204-square-foot Corona Community Health Center, which was built in 2018. Travis Lee, Gino Lollio and Tyler Morss of Cushman & Wakefield’s Healthcare Capital Markets team represented the undisclosed seller in the transactions.

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How to Buy a Medical Office Property

Taylor Williams — Thu, 05 Feb 2026 12:46:00 +0000

By Ryan McCullough, partner, managing director, Partners Real Estate Over the last decade, medical office buildings (MOBs) have become one of the most in-demand asset classes in commercial real estate. This shift did not happen by chance. Two major changes in the broader real estate market reshaped investors’ priorities and positioned medical office as a durable, long-term investment vehicle. The first was the rise of e-commerce. As consumers moved toward online shopping and same-day delivery, traditional retail properties faced elevated pressure. Investors began searching for asset types with consistent demand and limited exposure to technological disruption. As a result, MOBs, anchored by in-person healthcare delivery, benefited directly from this shift. The second was the COVID-19 pandemic. While retail and hospitality experienced sharp declines, MOBs proved far more resilient. Healthcare services remained essential, patient volumes recovered quickly and medical tenants continued operating. This period reinforced the reputation of MOBs as a defensive investment with stable demand through economic cycles. That surge in investor interest, however, has also led to confusion and, in some cases, unnecessary risk. Understanding the Diversity of Healthcare Assets As a commercial investment, healthcare is not a single, uniform product type. Properties vary widely in use, cost, complexity…

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Stage Equity Partners Buys 40,075 SF Medical Office Portfolio in El Paso

Taylor Williams — Wed, 04 Feb 2026 16:13:45 +0000

EL PASO, TEXAS — Stage Equity Partners, an investment firm based in the Chicago area, has purchased a portfolio of two medical office buildings totaling 40,075 square feet in El Paso. The buildings were fully leased at the time of sale to practices in fields such as neurology, gastroenterology, general surgery, pediatrics, behavioral health, laboratory testing and oral surgery. Jay Miele of Newmark represented the undisclosed seller in the transaction. Wintrust Bank provided acquisition financing for the deal.

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Gantry Secures $21.2M Refinancing for Two Medical Office Buildings in North Idaho

Amy Works — Wed, 04 Feb 2026 14:44:01 +0000

COEUR D’ALENE AND SANDPOINT, IDAHO — Gantry has secured a total of $21.2 million in two permanent loans to refinance maturing debt for a pair of medical office buildings in Coeur d’Alene and Sandpoint. The financing included a $9.7 million loan for a 38,000-square-foot property located at 423 N. Third Ave. in Sandpoint and an $11.5 million loan for a 60,000-square-foot facility at 1919 Lincoln Way in Coeur d’Alene. Both assets feature outpatient and family medicine providers tied to local hospital systems. Demetri Koston and Abi Hunter of Gantry’s Inland Northwest production team represented the single borrower, a private real estate investor, for both loans. The five-year, fixed-rate loans were provided by a single pension fund lender from Gantry’s roster of debt sources and include prepayment flexibility after a 30-year amortization.

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Lurie Children’s Plans Pediatric Hospital in Suburban Chicago

Kristin Harlow — Thu, 29 Jan 2026 14:14:43 +0000

DOWNERS GROVE, ILL. — Ann & Robert H. Lurie Children’s Hospital of Chicago has begun plans to develop a low-acuity pediatric hospital in Downers Grove, a western suburb of Chicago. The proposed hospital will include a pediatric emergency department, surgery sites, inpatient beds and pediatric subspecialties such as oncology, cardiology, gastroenterology and orthopedics. The new facility would be Lurie Children’s first inpatient hospital outside its main location in Chicago’s Streeterville neighborhood. Lurie Children’s says the Downers Grove hospital represents a key component of its strategic growth initiatives, reflecting the organization’s evolution from a single hospital into an integrated pediatric healthcare system. The announcement comes on the heels of Lurie Children’s opening a new outpatient center in Schaumburg in 2025. In addition to its flagship hospital in Chicago, Lurie Children’s offers care through more than 20 outpatient centers and 10 partner hospitals across Chicagoland. A design-build team led by Clayco will also include healthcare design and construction expertise from Skender, ZGF and LJC. The project is subject to regulatory approvals.

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Marcus & Millichap Arranges $3.5M Sale of Medical Office Building in Dover, Ohio

Kristin Harlow — Wed, 28 Jan 2026 14:32:35 +0000

DOVER, OHIO — Marcus & Millichap has arranged the $3.5 million sale of a 34,658-square-foot medical office building in Dover, about 45 miles south of Akron. The 10-suite property is situated on 5 acres at 340 Oxford St. Built in 2001, the facility is leased to healthcare providers, including OrthoUnited, Trinity Hospital, Retina Associates of Cleveland and Aultman Hospital. The asset is located one mile from Cleveland Clinic Union Hospital. OrthoUnited, the anchor tenant, recently invested more than $1.5 million into its 27.7 percent share of the building. Ryan Moore, Christopher Mitchel and Billy Skoch of Marcus & Millichap represented the seller, an Ohio-based private investor. The buyer was not released.

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Intercontinental Sells 127,496 SF Healthcare, Retail Building in Garden City, New York

Taylor Williams — Mon, 26 Jan 2026 13:17:00 +0000

GARDEN CITY, N.Y. — Intercontinental Real Estate Corp. has sold a 127,496-square-foot healthcare and retail building in Garden City, located on Long Island. The site spans 2.3 acres at 1300 Franklin Ave., and the building was originally constructed in the 1960s and renovated in 2007. Jose Cruz, Jeremy Neuer and David Leviton of JLL represented Intercontinental in the transaction. The buyer and sales price were not disclosed. The building was 78.5 percent leased at the time of sale.

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Hammes, NOVO Begin Development of 34,000 SF Medical Office Building in Scottsdale, Arizona

Amy Works — Wed, 14 Jan 2026 14:28:19 +0000

SCOTTSDALE, ARIZ. — A partnership between Hammes and Phoenix-based NOVO Development has broken ground for construction of a 34,000-square-foot medical office building in Scottsdale. The property will serve as an anchor component of the new 43-acre Sierra Bloom mixed-use wellness campus. The building’s anchor tenant will be Arizona Sports Medicine Center (ASMC), which is part of Abrazo Medical Group, a division of Abrazo Health. Occupying a majority of the new space, ASMC will offer sports medicine, imaging and other advanced medical services designed to meet the growing healthcare needs of the Scottsdale community. The medical office building is slated for completion in third-quarter 2026, with a topping out ceremony scheduled for late March.

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Cushman & Wakefield Brokers $56M Sale of Oncology Center Portfolio in Western Michigan

Kristin Harlow — Fri, 09 Jan 2026 14:09:02 +0000

GRAND RAPIDS, HOLLAND, NORTON SHORES AND BIG RAPIDS, MICH. — Cushman & Wakefield has brokered the $56 million sale of the Michigan OneOncology Cancer Center portfolio, a five-property portfolio totaling 152,289 square feet across western Michigan. The oncology-focused medical outpatient buildings, located in Grand Rapids, Holland, Norton Shores and Big Rapids, were fully leased at the time of sale. OneOncology operates the centers in partnership with The Cancer & Hematology Centers. The facilities are situated near Corewell Health and Trinity Health hospitals. Each property serves as a treatment hub with infusion bays, onsite radiation oncology and specialty pharmacy services. Gino Lollio, Travis Ives, Tyler Morss and Garrett Keais of Cushman & Wakefield represented the seller, a group of physicians and investors associated with the operating practice of the facilities.

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Lincoln Property Co., PGIM Buy 129,000 SF Healthcare Property in Metro Houston

Taylor Williams — Fri, 09 Jan 2026 13:58:21 +0000

SUGAR LAND, TEXAS — A partnership between Dallas-based Lincoln Property Co. and PGIM Real Estate has purchased Imperial Medical Center, a 129,000-square-foot healthcare property located in the southwestern Houston suburb of Sugar Land. The facility was built in 1994 in proximity to multiple hospital campuses and is home to users such as Memorial Hermann, Alpha Surgical Center and Texas Advanced Imaging. The seller was a partnership between Pinecroft Realty and Harrison Street Asset Management.

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CBRE Negotiates Sale of 72,000 SF Medical Office Building in Escondido, California for $36.4M

Amy Works — Thu, 08 Jan 2026 13:51:39 +0000

ESCONDIDO, CALIF. — CBRE has brokered the sale of Valley Parkway Health Center, a medical office building located at 488 E. Valley Parkway in Escondido. Neighborhood Healthcare acquired the asset for $36.4 million. Lars Eisenhauer and Dan Henry of CBRE represented the undisclosed seller, while Chris Ross and Ben Schiesl of JLL represented the buyer in the deal. The four-story, 72,000-square-foot multi-tenant facility includes an ambulatory surgery center, endoscopy center, onsite pharmacy and cardiology lab services.

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