Healthcare

Henry Ford Health System to Build 120,000 SF Medical Center at Former Kmart Site in Plymouth Township, Michigan

by Kristin Harlow July 11, 2019

PLYMOUTH TOWNSHIP, MICH. — Henry Ford Health System has unveiled plans to revitalize the site of a former Kmart property in Plymouth Township with a new outpatient medical center. The multi-story, 120,000-square-foot center will offer specialty care services, as well as an emergency department and ambulatory surgery center. Kmart closed its doors at the site in November 2017. Henry Ford is expected to close on the purchase of the property in mid-August. Construction is slated to begin shortly thereafter and be completed in 2021. Gensler and Hobbs + Black Associates Inc. are the project architects. With the new facility, Henry Ford’s footprint in western Wayne County will expand to three outpatient facilities.

July 11, 2019

Acquisitions California Healthcare Office Western

JLL Income Property Trust Acquires Genessee Plaza Medical Office Complex in San Diego for $90M

by Jeff Shaw July 5, 2019

SAN DIEGO — JLL Income Property Trust, an institutionally managed daily NAV REIT, has acquired a two-building medical office campus known as Genesee Plaza for $90 million. Genesee Plaza is located in San Diego’s University Town Center, near the University of California, San Diego and Scripps Hospital campuses.

July 5, 2019

Acquisitions Arizona Healthcare Office Western

Hammes Partners Acquires Spectrum Medical Commons in Arizona for $17.7M

by Amy Works June 27, 2019

GILBERT, ARIZ. — Hammes Partners has purchased Spectrum Medical Commons, a medical office property located at 3367 S. Mercy Road in Gilbert. Irgens sold the property for $17.7 million, or $409.41 per square foot. Situated adjacent to Mercy Gilbert Medical Center, the asset features 43,355 square feet of Class A medical office space, including a surgery center. Additionally, the property features prominent building signage and near-immediate access to a full interchange at Val Vista Drive and the Loop 202 Freeway. Brian Ackerman of JLL facilitated the transaction.

June 27, 2019

Healthcare Leasing Activity Life Sciences Massachusetts Northeast

BioTech Firm to Open 108,000 SF Facility in Metro Boston

by Taylor Williams June 25, 2019

WALTHAM, MASS. — ElevateBio, a biotech firm that specializes in gene therapy and development, will open a 108,000-square-foot office and lab space in Waltham, a western suburb of Boston. The facility will be located at 200 Smith Street in a former U.S. Post Office facility that was recently transformed into a 430,000-square-foot life sciences building. Anchor Line Partners LLC and Northwood Investors led the redevelopment project. ElevateBio’s new facility is expected to open in May 2020.

June 25, 2019

Conference Coverage Features Healthcare North Carolina Southeast Southeast Feature Archive

Medical Office Sales Active in Southeast Despite Slowdown Nationally, Say InterFace Panelists

by Alex Tostado June 20, 2019

CHARLOTTE, N.C. — Medical office buildings (MOBs) were trading at steady increases year over year from 2011 to 2017, says P.J. Camp, principal and co-founder of Atlanta-based healthcare real estate investment firm Hammond Hanlon Camp. In 2018, however, MOB transactions started to dip, a trend that bled into the first part of this year. There were $14 billion worth of MOB transactions in 2017 but $12 billion worth in 2018. The first quarter of 2019 saw $1.7 billion worth of transactions in the sector, down 32 percent from the first quarter of 2018 and the lowest quarterly total in five years, says Camp. Camp was a participant on the investment panel at the ninth annual InterFace Healthcare Real Estate Carolinas conference. The half-day information and networking event was held May 30 in Charlotte and was hosted by Southeast Real Estate Business and Seniors Housing Business. Also participating in the panel were Mervyn Alphonso, senior vice president of Anchor Health Properties; Steven Reedy, managing director of CIT Healthcare Finance; Stephen Pandos, director of finance at Insite Properties; Gerald Quattlebaum, senior vice president of Flagship Healthcare Properties; Jim McMahon, senior director at Capital One Healthcare; and moderator Andy Lawler, healthcare development partner …

June 20, 2019

California Development Healthcare Mixed-Use Office Restaurant Retail Western

Primior to Break Ground on First Harbor Plaza Mixed-Use Project in Santa Ana, California

by Amy Works June 19, 2019

SANTA ANA, CALIF. — Primior is scheduled to break ground on First Harbor Plaza, the firm’s mixed-used development in Santa Ana, on June 26. Located at the intersection of North Harbor Boulevard and West First Street, the two-building First Harbor Plaza will offer 40,129 square feet of restaurant, retail, office and medical office space. Building 1 features 14,400 square feet in two large anchor suites and five smaller spaces on the first floor and the same configuration on the second floor. Building 2 will include 3,880 square feet on the first floor, two suites on the second floor totaling 3,778 square feet and a 3,778-square-foot suite on the third floor. Chase Bank will occupy the first-floor corner space at Building 1, and Optima Salon Studios will occupy the third-floor suite at Building 2.

June 19, 2019

Development Healthcare Illinois Midwest

HSA PrimeCare Begins Development of 40,000 SF Medical Office Building in New Lenox, Illinois

by Kristin Harlow June 19, 2019

NEW LENOX, ILL. — HSA PrimeCare, the national healthcare real estate division of HSA Commercial Real Estate, has begun development of a 40,000-square-foot medical office building on Silver Cross Hospital’s campus in New Lenox, immediately west of the I-355/I-80 interchange and about 40 miles southwest of Chicago. Scheduled for completion in December, the facility will house the hospital’s urgent care, occupational health and primary care clinics. Eppstein Uhen Architects is the architect. PREMIER Design + Build is the general contractor.

June 19, 2019

Development Healthcare New York Northeast

New York State Department Approves $92.9M Healthcare Project in Kingston

by Taylor Williams June 18, 2019

KINGSTON, N.Y. — The New York State Department has approved a proposal from HealthAlliance of the Hudson Valley to transform and expand its hospital in Kingston, a project that is valued at roughly $92.9 million. Project plans call for the construction of a new, 79,000-square-foot building that will house 175 beds and an emergency care center and a full renovation of the existing 48,000-square-foot space. An exact construction start date has yet to be determined, but the department’s approval represents the final hurdle to be cleared in green-lighting the project, according to the development team.

June 18, 2019

Development Healthcare Texas

Archway Completes 65,000 SF Healthcare Property in Metro Houston

by Taylor Williams June 17, 2019

HUMBLE, TEXAS — Houston-based developer Archway Properties has completed a 65,000-square-foot healthcare property in Humble, a northern suburb of Houston. Vital Heart & Vein occupies the Class A facility, which includes an ambulatory surgical center, imaging center, cardiology clinic and administrative areas. E.E. Reed Construction served as general contractor, and Powers Brown Architecture handled the design.

June 17, 2019

Acquisitions Healthcare Northeast Pennsylvania

HFF Negotiates Sale of 50,000 Medical Office Building in Philadelphia

by Taylor Williams June 14, 2019

PHILADELPHIA — HFF has negotiated the sale of a 50,000-square-foot medical office building located at 1740 South St. in the Rittenhouse Square submarket of Philadelphia. The property, which was 97 percent leased at the time of sale, is situated adjacent to the Penn Medicine Rittenhouse campus, which includes a 96-bed hospital. Ben Appel, Evan Kovac, Andrew Milne and Zachary Drozda of HFF represented the seller, a partnership between Tennessee-based Chestnut Funds and investment firm Anchor Health Properties.

June 14, 2019

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