FRESNO, CALIF. — JLL Capital Markets has negotiated the sale of WelbeHealth-Fresno Center, an 18,869-square-foot PACE medical facility in Fresno. PACE stands for Program of All-Inclusive Care for the Elderly. Originally built in 1975, the property was renovated in 2020. The fully leased facility is part of the PACE program, providing comprehensive medical and social services to elderly individuals who are eligible for nursing home-level care but wish to continue living in their own homes. Services at WelbeHealth-Fresno Center include medical care, coordination, prescriptions, in-home care, dental, vision, hearing, transportation, physical and occupational therapy as well as social activities and meals. Matt Dicesare and Jeff Cicurel of JLL represented the seller, Turner Impact Capital’s Turner Healthcare Facilities Fund, and procured the buyer, Corum Asset Management.
FRISCO, TEXAS — Dallas-based Cambridge Holdings Inc. has broken ground on a medical office building within the 242-acre Frisco Station mixed-use development on the northern outskirts of Dallas. According to multiple media outlets, including The Dallas Business Journal, the project has a $50 million price tag. The site is located on the northwest quadrant of Dallas North Tollway and Warren Parkway, adjacent to The Star, and the building will total 85,800 square feet. Compass Surgical Partners, Orthopedic Institute of North Texas and Lam Vascular & Associates have committed to being the project’s anchor tenants. Perkins&Will is the project architect, and Rogers-O’Brien Construction is the general contractor. Kimley-Horn is providing civil engineering services, and Transwestern has been tapped as the leasing agent. Completion is slated for late 2026. A partnership between Hillwood, VanTrust Real Estate and The Rudman Partnership owns Frisco Station.
KENNEWICK, WASH., AND SALEM, ORE. — BWE and Blueprint Healthcare Real Estate Advisors have closed two loans totaling $17.8 million to provide financing for the purchase of two memory care communities in Washington and Oregon. The financing includes a $10.4 million loan for Windsong at Southridge, a 56-unit community in Kennewick, and a $7.4 million loan for Windsong at Eola Hills, a 56-unit property in Salem. Lundat Kassa of BWE and Kristen Ahrens of Blueprint secured the HUD financing. Both acquisition bridge loans, which have five-year terms, 72 percent loan-to-cost and no prepayment penalties, are nonrecourse with fixed and competitive rates. After the acquisition, BWE will provide permanent financing for the properties through HUD’s 232/223(f) loan product designed for senior living and healthcare communities, a process that has already begun for Windsong at Southridge. The loans have been structured to maximize exit proceeds up to 100 percent loan-to-cost for the borrowers. Located at 4000 W. 24th Ave. in Kennewick, Windsong at Southridge was constructed in 2018 and offers a variety of amenities, including arts and crafts activities, a salon, game room, gym, library and a health and therapy center. Constructed in 2015 at 20230 Wallace Road NW in Salem, Windsong at …
FRIENDSWOOD, TEXAS — Locally based firm Tannos Development Group has completed construction of a 106,000-square-foot office and healthcare building in Friendswood, a southeastern suburb of Houston. The four-story building is located at 1715 S. Friendswood Drive and had a total price tag of $23 million. University of Texas Medical Branch (UTMB) has leased the entire fourth floor of the building to house its primary and specialty care practices. The building also houses an onsite pharmacy and an expanded imaging suite that includes two radiology rooms and ultrasound capabilities.
TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of a medical investment property located at 4881 E. Grant Road in Tucson. Elliott Bay Medical Properties Holdings LLC acquired the asset from a private investment group for $5.5 million. Pain Institute of Southern Arizona occupies the 15,000-square-foot property on a long-term lease. Bryce Horner of Cushman & Wakefield | PICOR represented the seller in the deal.
COLUMBIA, S.C. — Trinity Partners has restructured and extended Prisma Healthcare’s lease at 8 Medical Park, a 96,190-square-foot medical office building in Columbia. The facility is situated on the Prisma Healthcare Richland Hospital campus. Prisma Healthcare fully occupies 8 Medical Park. Bruce Harper and Dail Longaker of Trinity represented the landlord in the lease negotiations. Greta Bostic and Seth Travis of Davis Moore Healthcare Practice Group represented the tenant. Ashley Owens of Trinity Partners is the medical office building’s property manager.
SOUTH ELGIN, ILL. — Krusinski Construction Co. will transform a 14,446-square-foot vacant space on the first floor of the Medical and Legal Arts Building in South Elgin into a daycare center for BrightPath Kids, which operates more than 230 centers across the U.S. and Canada. The interior scope includes partial demolition and full reconstruction of the first floor. The new space will feature activity rooms and learning areas equipped with advanced classroom technology. Mechanical, electrical, plumbing and fire protection systems will be enhanced to meet the client’s needs. Exterior upgrades will include parking lot improvements and the addition of a new playground on the east side of the building. Krusinski originally completed the ground-up, two-story building in 2007. The facility previously housed an immediate care clinic for Advocate Aurora Health Sherman Family Healthcare on the first floor, with law offices and conference rooms on the second. The project team includes Colliers Engineering & Design as architect and civil engineer.
CLINTON TOWNSHIP, MICH. — Dr. Joseph Allamat, an oral surgeon who operates his business under the company name Oral Surgery Partners, has signed an 11-year lease for 4,930 square feet at 15870 19 Mile Road in Clinton Township. The lease marks the doctor’s second oral surgery center in Macomb County. Andrew Boncore Sr. of Dominion Real Estate Advisors LLC represented the undisclosed landlord. Emil Cherkasov of Forward Commercial represented the tenant.
TUCSON AND GREEN VALLEY, ARIZ. — Northwest Healthcare Properties has completed the sale of a medical office building portfolio in Tucson and Green Valley to MLL Capital for $6.1 million. The portfolio consists of Riverstone Medical Plaza and Green Valley Medical Plaza. Travis Ives, Gino Lollio and Tyler Morss of Cushman & Wakefield’s U.S. Healthcare Capital Markets team represented the seller in the deal. Additionally, Tom Neiman and Bryce Horner of Cushman & Wakefield | PICOR provided local advisory services for the transaction. Built in 1998 and renovated in 2018, Riverstone Medical Plaza offers 18,976 square feet of single-tenant medical office space. Tucson Physician Group Holdings LLC fully occupies the building, which is located at 4892 N. Stone Ave. Located at 1055 La Canada Drive in Green Valley, Green Valley Medical Plaza offers 23,746 square feet of multi-tenant medical office space. Originally built in 1992, the building was 98 percent leased to several small healthcare users at the time of sale.
BROOKFIELD, WIS. — CBRE has brokered the sale of the 23,805-square-foot Calhoun Health Center in the Milwaukee suburb of Brookfield for an undisclosed price. The Class A medical office building is located at 1905 N. Calhoun Road and is fully leased and anchored by Froedtert ThedaCare Health in partnership with the Medical College of Wisconsin. The facility was completed in 2016. Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Trent Jemmett, Jesse Greshin and Devin Tessmer of CBRE represented the seller. The buyer was Chicago-based Remedy Medical Properties in a joint venture with Kayne Anderson Real Estate.