Healthcare

Bella-Terra-Medical-Plaza-Huntington-Beach-CA

Manhattan Real Estate Holdings Buys Bella TerraMedical Plaza in Huntington Beach for $20M

by Amy Works March 31, 2020

HUNTINGTON BEACH, CALIF. — Manhattan Real Estate Holdings has acquired Bella Terra Medical Plaza, a medical office building located at 7677 Center Ave. in Huntington Beach. Vibe Boutique Office Properties sold the asset for $20 million. Situated on 1.8 acres, the four-story property features 59,354 square feet of recently renovated, Class A medical office space. At the time of sale, the building was 90 percent leased to a variety of medical facilities and providers. Derek Landry, Bob Prendergast, Sach Kirpalani and Lynn LaChapelle of JLL Capital Markets, along with Kellie Hill, Chris Isola and Bryan Lewitt of JLL Healthcare, represented the seller and procured the buyer in the deal.

March 31, 2020

Acquisitions Healthcare Massachusetts Northeast Office

Legacy Real Estate Acquires 84,000 SF Office, Healthcare Building in Lowell, Massachusetts

by Alex Patton March 31, 2020

LOWELL, MASS. — Legacy Real Estate Ventures has acquired 55 Technology Drive, an 84,000-square-foot office and healthcare building in Lowell, located approximately 30 miles north of Boston. At the time of sale, the property was 100 percent leased to Lowell General Hospital, Borrego Solar, the Commonwealth of Massachusetts, software developer Contract Logix and tech company Diagnosys. Anthony Biette of Peak Real Estate Partners represented the seller, a joint venture between Novaya Real Estate Ventures LLC and Hawk Properties. Biette also procured Legacy as the buyer. The sales price was undisclosed.

March 31, 2020

Civic Healthcare Texas

Texas Military Department, USACE to Convert Dallas Convention Center into COVID-19 Healthcare Facility

by Taylor Williams March 30, 2020

DALLAS — The State of Texas, the Texas Military Department (TMD) and the U.S. Army Corps of Engineers (USACE) have identified the Kay Bailey Hutchison Convention Center in Dallas as a makeshift healthcare facility to treat patients suffering from COVID-19, Texas Gov. Greg Abbott announced on Sunday. The convention center, located downtown, will be the first site to be equipped with additional healthcare equipment and facilities. Local ABC affiliate WFAA reports that 250 beds will be set up with the capacity to expand to 1,400 beds if needed. In his statement, Abbott also stated that the number of hospital beds for COVID-19 patients in Texas has doubled over the past week, and announced a mandatory 14-day quarantine for anyone traveling into Texas from any part of Louisiana. According to its website, the Kay Bailey Hutchison Convention Center features 1 million square feet of exhibit space, three ballrooms, 88 meeting rooms, a 1,750-seat theater and a 9,816-seat arena.

March 30, 2020

Acquisitions California Healthcare Office Western

NAI Capital Negotiates $3M Acquisition of Highland Springs Medical Arts Building in Beaumont, California

by Amy Works March 30, 2020

BEAUMONT, CALIF. — NAI Capital has facilitated the purchase of Highland Springs Medical Arts Building, a medical office building located at 701 Highland Springs Ave. in Beaumont. A private investor acquired the asset for $3 million, or $203 per square foot, in a 1031 exchange. The name of the seller was not released. Marc Piron of NAI Capital’s Investment Services Group represented the buyer in the deal. Totaling 14,752 square feet, the asset offers 12 units with a camera security system, new landscaping and trash enclosure, and a recently redone parking lot complete with ADA compliant ramps and LED lights. At the time of sale, the property was fully leased.

March 30, 2020

Healthcare New York Northeast

Report: Elmhurst Hospital in Queens Dedicates All 545 Beds to COVID-19 Treatment

by Alex Patton March 27, 2020

NEW YORK CITY — The Elmhurst Hospital in Queens has dedicated all of its 545 beds to treatment of COVID-19 patients, according to a report by The New York Times. The building owner, NYC Health + Hospitals, has begun transferring patients who are not suffering from the disease caused by the novel coronavirus to other medical facilities. Other efforts to increase the number of hospital beds in the city include FEMA’s ongoing conversion of Javits Convention Center into a field hospital and a 1,000-bed federal hospital ship scheduled to arrive in mid-April. As of March 27, The Wall Street Journal has tracked 39,140 cases of coronavirus in New York — nearly half the number of all cases in the country — and 461 confirmed deaths.

March 27, 2020

Development Healthcare Texas

Hoar Construction Begins Work on $90M Healthcare Project in Uvalde, Texas

by Taylor Williams March 27, 2020

UVALDE, TEXAS — Alabama-based general contractor Hoar Construction has begun work on a $90 million healthcare project in Uvalde, about 85 miles west of San Antonio. The new facility will be part of Uvalde Memorial Hospital and will include 32,870 square feet of institutional space, 31,872 square feet of administrative space and an 11,500 square-foot central utility plant. In addition, the facility will house an emergency department, physical and occupational therapy department, radiology department, urgent care department, an intensive care unit, a 25-bed medical surgical inpatient unit and 16 outpatient beds. The building is expected to be available for occupancy in September 2021.

March 27, 2020

Healthcare Leasing Activity Texas

NAI Partners Arranges 48,400 SF Healthcare Build-to-Suit Lease in Metro Houston

by Taylor Williams March 27, 2020

PEARLAND, TEXAS — NAI Partners has arranged a 48,400-square-foot build-to-suit lease at 11200 Broadway St. in Pearland for HCA Houston Healthcare, which plans to open a Healthcare Center for Clinical Advancement at the site by early 2021. The healthcare provider has signed a long-term lease at the property, which will feature high-fidelity hospital simulation labs, connected classrooms and debriefing rooms where the health system’s nearly 7,000 nurses will receive ongoing clinical education and training. Griff Bandy and Joe Bright of NAI Partners represented HCA in the lease negotiations. A second HCA Healthcare Center for Clinical Advancement is planned for a location north of Houston.

March 27, 2020

Acquisitions Healthcare North Carolina Office Southeast

Global Medical REIT Purchases 98,000 SF Medical Office Building in Triad Region

by Alex Tostado March 26, 2020

HIGH POINT, N.C. — Global Medical REIT Inc. has acquired a 98,000-square-foot medical office building in High Point. The property is situated at 1814 Westchester Drive, equidistant to the Triad cities of Greensboro and Winston-Salem. At the time of sale, the building was fully leased to Wake Forest Baptist Health. Matt Bear of Bear Real Estate Advisors represented the Bethesda, Md.-based buyer in the transaction. Jennifer Stein of JDS Real Estate Services was the broker-of-record for the transaction. David Divine of Colliers International represented the seller, CHC Realty LLC. The sales price was not disclosed.

March 26, 2020

Acquisitions California Healthcare Loans Office Retail Western

Thorofare Capital Funds $23.8M Acquisition Loan for Mixed-Use Portfolio in Beverly Hills

by Amy Works March 26, 2020

BEVERLY HILLS, CALIF. — Thorofare Capital has provided a $23.8 million loan for the acquisition of a mixed-use portfolio in Beverly Hills. Marc Schillinger and Eric Boucher of JLL advised the undisclosed borrower in the financing transaction. The acquisition includes two properties. The first is 415 North Camden Drive, a 17,936-square-foot building offering retail, medical and office space in the Beverly Hills Golden Triangle district. The second is a 10,884-square-foot medical office building located at 152-160 S. Lasky Drive.

March 26, 2020

Healthcare Leasing Activity Northeast Pennsylvania

Broad Street Healthcare Offers to Lease Shuttered Medical Center to City of Philadelphia to Treat Covid-19 patients

by Alex Patton March 25, 2020

PHILADELPHIA — Broad Street Healthcare Properties, owner of the shuttered Hahnemann University Hospital, has offered to lease the medical facility to the City of Philadelphia below market cost in the event that a surge of coronavirus cases occurs. The 496-bed former acute care hospital is located in the Logan Square neighborhood, a central district of the city. Broad Street offered the facility at a daily rental price of approximately $27 per bed plus operating costs. As of March 25, The Wall Street Journal tracked 946 cases in Pennsylvania and 8 confirmed deaths.

March 25, 2020

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