CENTENNIAL, COLO. — NavPoint Real Estate Group has arranged the sale of a medical office asset located at 8100 E. Arapahoe Road in Centennial. Hilltop Partnership acquired the property from Mililani Investments Arapahoe for $3.9 million. Situated within Denver Tech Center, the value-add property features 28,700 square feet of medical office and office space. Compass Bank occupied the garden level and first floors of building since it was built in 1986. At the time of sale, the building was 57.3 percent occupied by three tenants. John Witt and Matt Call of NavPoint Real Estate Group represented the seller, while Matt Kulbe, also of NavPoint, represented the buyer in the deal.
ROUND ROCK AND SAN ANTONIO — JLL has negotiated the sale of two healthcare facilities totaling 35,000 square feet in Round Rock, a northern suburb of Austin, and San Antonio. The properties serve as post-acute neuro-rehabilitation facilities for patients with brain and spinal cord injuries. Rick Goings and Kevin McConn of JLL represented the seller, an affiliate of Houston-based Simpkins Group, in the transaction. The buyer was an affiliate of Virginia-based Capital Square 1031.
RICHARDSON, TEXAS — Pavilion Properties, a holding company owned by Methodist Health System of Dallas, has acquired a 120,000-square-foot medical office building located at 3001 President George Bush Tollway in Richardson, a northeastern suburb of Dallas. Citadel Partners brokered the sale of the two-story building between Pavilion Properties and seller Pillar Commercial. The sales price was not disclosed.
TEMPLETON, CALIF. — Dougherty Mortgage has partnered with Community Health Care Centers of the Central Coast (CHCCC) to obtain $16.2 million in public and private financing for a new healthcare clinic and expanded community services in Templeton. CHCCC provides healthcare services to the Central Coast’s vulnerable and at-risk residents. Located at 1330 Las Tablas Road in Templeton, the clinic, which is open and welcoming new patients, will meet more of the needs in the community for primary care, dental and behavioral health services. The project was financed through two United States Department of Agriculture Rural Development programs. Half of the total investment was provided to CHCCC through the department’s Community Facilities Loan program, with the remaining $8.1 million invested as a loan guarantee to Dougherty Mortgage.
ORLANDO, FLA. — SVN Commercial Advisory Group has arranged the $12 million sale of the MetroWest Medical Office Building, located on a one-acre site at 1743 Park Center Drive in Orlando. Rumasa Corp. purchased the fully leased property from 1743 Park Center Holdings LLC. The recently refurbished building is located near Valencia College and MetroWest Golf Club. Tenants at the time of sale included Integrative Physical Medicine, Ameri Help LLC, West Orange Nephrology and Omega Research. Gail Bowden of SVN Commercial Advisory Group represented both the buyer and seller in the transaction.
LEBANON, IND. — Quantum Real Estate Advisors Inc. has negotiated the sale of a single-tenant medical office building in Lebanon, about 30 miles northwest of Indianapolis, for $7.7 million. Newly constructed this year, the property is located at 1310 Lebanon St. American Health Network leases the roughly 20,000-square-foot property. Daniel Waszak of Quantum represented the seller, a Midwest-based developer. A Midwest-based medical office REIT purchased the asset.
GRAND RAPIDS, MICH. — Harrison Street Social Infrastructure Fund, in partnership with Michigan State University (MSU), has unveiled plans to develop the Doug Meijer Medical Innovation Building at MSU’s Grand Rapids Innovation Park. The park is a research and clinical facility at the university’s health campus in Grand Rapids. The public-private development partnership also includes Murphy Development Group, Walsh Investors and Rockford Construction. Under the arrangement, MSU will retain long-term ownership of the land. The 205,659-square-foot building will be dedicated to research and healthcare innovation as well as the advancement of MSU’s artificial intelligence, bioinformatics and biostatistics departments. MSU, Spectrum Health and BAMF Health will occupy space. Completion is slated for fall 2021.
ROUND ROCK AND SAN ANTONIO, TEXAS — Capital Square 1031 has purchased two healthcare facilities totaling 35,000 square feet in Central Texas. The first property is a 15,000-square-foot building located in the northern Austin suburb of Round Rock, and the second building is a 20,000-square-foot asset in San Antonio. Both properties were purpose-built in 2018 for NeuroRestorative to use as a post-acute, neuro-rehabilitation facility for people with brain, spinal cord and medically complex injuries.
SHELBY TOWNSHIP, MICH. — Ramar Chiropractic and Rehab has leased a 1,700-square-foot space at 2061 25 Mile Road in Shelby Township. The chiropractor’s grand opening is slated for this month. Barry Landau of Dominion Real Estate Advisors represented both the tenant and the undisclosed landlord in the lease transaction.
LAS VEGAS — Marcus & Millichap has arranged the sale of a medical office property located at 8678 Spring Mountain Road. A limited liability company sold the property to an undisclosed buyer for $1.6 million. Southwest Neck & Back Clinic occupies the 9,672-square-foot building. Ray Germain and Austin Lee of Marcus & Millichap’s Las Vegas office represented the seller in the deal.