FORT MYERS, FLA. — IRA Capital has acquired Paramount Surgery Center, a 9,000-square-foot surgery center in Fort Myers. The property is located at 2565 Cleveland Ave., across the street from Lee Memorial Hospital. The asset was completed in 2012 and features three operating rooms, step-down recovery, a nurse station, consultation room and a reception area. John Krzyminski and Max Krzyminski of JLL represented the seller, 8250 Realty LLC, in the transaction.
LOS ANGELES — CIT Group and its Healthcare Finance unit has funded a $25 million loan supporting Seavest Healthcare Properties’ acquisition of the MLK Community Hospital Medical Office Building in South Los Angeles. Established in 2015, MLK Community Hospital is part of a public-private partnership with Los Angeles County created to meet the needs of the South Los Angeles community, including the uninsured and underinsured. The private, nonprofit hospital provides healthcare services for residents of the Watts, Compton and Willowbrook neighborhoods of Los Angeles.
HOUSTON — Post Oak ER will open a 5,575-square-foot healthcare clinic at Tanglewood Shopping Center, a 48,306-square-foot property located in Houston’s Uptown neighborhood. Chadd Bolding of Colliers International represented the tenant, which expects to open in October, in the lease negotiations. Josh Friedlander of NewQuest Properties represented the landlord, RPI Management Co. LLC.
BOSTON — Gene editing firm CRISPR Therapeutics has signed a 263,500-square-foot life sciences lease at The 105, a new development in Boston’s Seaport District by Breakthrough Properties. Construction of The 105 began earlier this year and is expected to be complete in early 2022. Cushman & Wakefield represented the tenant in the lease negotiations. Newmark Knight Frank represented Breakthrough Properties, which was launched in 2019 by New York City-based Tishman Speyer and biotech investment firm Bellco Capital. Gene editing refers to technologies that give scientists the ability to change an organism’s DNA.
LUBBOCK, TEXAS — JLL has negotiated the sale of a 20,880-square-foot medical office building located at 3601 21st St. in Lubbock. The property was built in 1966, renovated in 2003 and is now fully leased to Covenant Health System. Nick Foster, Evan Kovac, Andrew Milne, Matt DiCesare and Michael George of JLL represented the seller, a joint venture between Healthcare Property Advisors and The Innovation Institute, in the transaction. The buyer was Los Angeles-based RealtyMogul.
HUTCHINSON, MINN. — Kraus-Anderson has completed the construction of a 17,000-square-foot expansion for the Hutchinson Health facility in Hutchinson, about 60 miles west of Minneapolis. The $17.5 million project included 18 new medical, surgical and intensive care patient rooms. Wold Architects and Engineers designed the expansion. Hutchinson Health, classified as a Level 4 trauma center, offers a wide range of care from clinic services and outpatient procedures to inpatient care.
TUCSON, ARIZ. — NAI Horizon has arranged the sale of a fully occupied medical building, located at 535 N. Wilmot Road in Tucson. 535 Wilmot Investors, an affiliate of The Schomac Group, sold the property to AP MP, an affiliate of MBRE Health Care, for $11.5 million. Banner Health occupies the 40,936-square-foot medical building on a long-term basis and recently renewed its lease for another 10 years. Justin Lanne and Andrew Sternberg with NAI Horizon’s Tucson represented the seller in transaction.
ORANGE, CONN. — Locally based brokerage firm Pearce Real Estate has negotiated the sale of 70 percent of the medical condominium units at Springbrook Common, a 35,000-square-foot medical office complex in the New Haven suburb of Orange. The property was built in 2008 and is leased to tenants such as U.S. Renal Dialysis, Physical Therapy & Sports Medicine and the Connecticut Kidney Center. Carl Russell of Pearce Real Estate represented the seller, a partnership between Springbrook Common LLC and Lakehouse Properties LLC, in the transaction. Nick Mastrangelo and Tom Cavaliere of Coldwell Banker represented the buyer, Water Street Management LLC.
HUDSON, WIS. — Kraus-Anderson Construction Co. has completed a 7,522-square-foot expansion of the emergency center at Hudson Hospital & Clinic in Hudson, which is located in western Wisconsin near the Minnesota border. The expansion nearly doubled the square footage of the center and increased its number of patient care rooms to 12. About $1 million of the $5 million project costs came from community donations or grants. Hudson Hospital was built in 2003.
DEERFIELD, ILL. — In its fiscal 2020 third-quarter results, Walgreens Boots Alliance Inc. said its performance was “significantly impacted by the COVID-19 pandemic,” causing sales to be roughly $700 million to $750 million lower. The decline is largely attributed to its international stores. In April, sales at Walgreens stores in the United Kingdom were down 85 percent. Deerfield, Ill.-based Walgreens says that pharmacy volume was impacted globally by a drop in doctor visits and hospital patient admissions. Profits were also hurt by a shift to low-margin items and higher supply chain and cleaning costs. Additionally, Walgreens has announced that it will be the first national pharmacy chain to offer full-service doctor offices co-located at its stores on a large scale, following a trial that began last year. The partnership with VillageMD will create 500 to 700 physician-led primary care clinics in more than 30 markets in the next five years, with the intent to build hundreds more thereafter. The clinics will be staffed by more than 3,600 primary care providers who will be recruited by VillageMD. Under the terms of the new agreement, Walgreens will invest $1 billion in equity and convertible debt in VillageMD over the next three years, …
