Wednesday, January 8, 2025
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Healthcare

AcquisitionsHealthcareMichiganMidwest

Dominion, Lee & Associates Arrange Sale of 11,892 SF Medical Office Building in Flint, Michigan

by Kristin Harlow

FLINT, MICH. — Dominion Real Estate Advisors and Lee & Associates have arranged the sale of an 11,892-square-foot medical office building in Flint for an undisclosed price. The property is located at 1321 S. Linden Road within the Cornerstone Office Complex. James Mitchell of Dominion and Michele Rosenblum of Lee & Associates represented the seller, LSPV Cornerstone Owner LLC, otherwise known as Versa Development. The buyer will occupy the building for its medical practice, Mid-Michigan Home and Health Hospice.

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HealthcareLoansOfficeSoutheastVirginia

Monday Properties Obtains $205.5M Refinancing for Office Tower, Medical Office Building in Metro D.C.

by John Nelson

ARLINGTON, VA. — Monday Properties has obtained two loans totaling $205.5 million for the refinancing for two commercial properties in Arlington, a suburb of Washington, D.C. The assets include a 540,000-square-foot office tower at 1812 N. Moore St. and Shirlington Gateway, a 12-story medical office building. Citi Real Estate Funding Inc. provided the $173 million loan for the office tower and $32.5 million loan for the medical office building, both of which were CMBS loans with five-year terms and fixed interest rates. Monday Properties leased 60,000 square feet of space at 1812 N. Moore over the past six months, bringing it to 90 percent leased. There are an additional 20,000 square feet of deals in the pipeline. Shirlington Gateway was 93 percent leased at the time of financing to healthcare tenants including Anderson Orthopedic Clinic, INOVA and Virginia Hospital Center, which has signage on the building’s exterior.

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AcquisitionsHealthcareMidwestMinnesotaWisconsin

Transwestern Arranges Sale of Three-Property Medical Office Portfolio in Minnesota, Wisconsin

by Kristin Harlow

MINNESOTA AND WISCONSIN — Transwestern Real Estate Services has arranged the sale of a three-property medical office portfolio totaling 50,853 square feet in Minnesota and Wisconsin. The sales price was undisclosed. The first building is 2380 Rosemary Way in Lino Lakes, Minn. The property totals 12,411 square feet. The second asset is 525 N. Knowles Ave. in New Richmond, Wis. The building totals 19,537 square feet. Also in the portfolio is 2950 Curve Crest Blvd. in Stillwater, Minn. The property totals 18,905 square feet. All of the buildings are fully leased. Frank Richie, Mike Salmen and Erik Coglianese of Transwestern represented the buyer, Hammes Partners. Dean Williamson and Ross Hedlund of Frauenshuh Inc. represented the seller on an internal basis.

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HealthcareLeasing ActivityNew JerseyNortheast

Columbia University Irving Medical to Open 4,283 SF Surgical Outpatient Center in Teaneck, New Jersey

by Taylor Williams

TEANECK, N.J. — Columbia University Irving Medical Center will open a 4,283-square-foot surgical outpatient center in the Northern New Jersey community of Teaneck. The clinic will be located within the 670,000-square-foot, four-building Glenpointe mixed-use campus. Jeff Schotz, Peter Rossi, Dan Reider, Peter Kasparian and David Simson of Newmark represented the landlord, Alfred Sanzari Enterprises, in the lease negotiations. Gerry Lees and Jeffrey Prezant of Cushman & Wakefield represented the tenant.

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AcquisitionsHealthcareIndustrialNevadaOfficeRetailWestern

Dornin Investment Buys 20-Building Real Estate Portfolio in Northern Nevada for $70M

by Amy Works

SPARKS AND RENO, NEV. — Dornin Investment Group has acquired a 20-building portfolio in Sparks and Reno for approximately $70 million. Totaling 413,172 square feet, the portfolio includes light industrial, retail and medical office properties. The majority of the buildings were constructed between 1977 and 1991, with retail assets built in 2005 to 2006. The portfolio collectively has more than 180 total tenants with a median size of 1,640 square feet. The office buildout of the warehouse units is 21.7 percent. The industrial buildings offer clear heights ranging from 12 feet to 16 feet. Mark Nicoletti, Maxwell Shapiro and Julia Lewitt of Allen Matkins provided legal expertise in the transaction. Bill Bernard and Tami Haworth of Stewart Title provided title and escrow services.

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Company NewsHealthcareTexas

Walmart Health to Open 18 New Facilities Across Texas

by Taylor Williams

TEXAS — Walmart Health will open 18 new facilities across Texas in the coming months, including three clinics in the Houston area that opened earlier this year. Of the remaining 15 facilities, 10 will be located in the Dallas-Fort Worth metroplex, and the other five will also be in the Houston area. The location in the southwestern Houston suburb of Sugar Land marks the 50th nationwide for Walmart Health, which originally launched in 2019.

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ColoradoDevelopmentHealthcareMixed-UseOfficeRetailWestern

TM Crowley, NLGCM Plan 23-Acre The Highlands at Thornton Mixed-Use Project in Colorado

by Amy Works

THORNTON, COLO. — Indianapolis-based TM Crowley & Associates has partnered with Atlanta-based NLG Capital Management (NLGCM), a division of The Net Lease Group, to develop The Highlands at Thornton, a mixed-use property at the northeast intersection of Quebec Street and 136th Avenue in Thornton. Situated on 23 acres, the project will offer more than 101,925 square feet of retail, commercial and medical office space. CVS Caremark will anchor the development. Lisa Vela and Jay Landt of Colliers will handle leasing efforts for the project.

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AcquisitionsHealthcareTexas

Partners Real Estate Brokers Sale of 14,000 SF Ambulatory Surgery Center in Sugar Land, Texas

by Taylor Williams

SUGAR LAND, TEXAS — Partners Real Estate has brokered the sale of a 14,000-square-foot ambulatory surgery center in the southwestern Houston suburb of Sugar Land. According to LoopNet Inc., the building 2121 Williams Trace Blvd was constructed on roughly two acres in 1995 and was renovated in 2007. Ryan McCullough and Davis Amanyisye of Partners represented the seller, an entity doing business as SNA Medical Center LLC, in the transaction. The buyer and sales price were not disclosed.

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AcquisitionsHealthcareNorth CarolinaOfficeSoutheast

Highwoods Sells 338,000 SF Rexwoods Medical Office Campus in West Raleigh

by John Nelson

RALEIGH, N.C. — Highwoods Properties Inc. has sold Rexwoods, a medical office campus in west Raleigh spanning 380,000 square feet. The eight-building park is located across from University of North Carolina REX Hospital. Highwoods sold the campus to two separate buyers, one of which acquired seven buildings with plans to continue to operate them as clinics while the other buyer bought a building with plans to redevelop the asset. The buyers and sales price were not disclosed. The seven properties were built or acquired by Highwoods between 1982 and 1998, and three of them were recently renovated. Mindy Berman, Ryan Clutter, Daniel Flynn, Teddy Hobbs, Woody Flythe and Landon Weaver of JLL represented Highwoods and procured the buyers in the two transactions. Anthony Sardo and Ward Smith of JLL arranged acquisition financing for one of the buyers.

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AcquisitionsHealthcareOklahomaRetailTexas

Marcus & Millichap Arranges $4.7M Sale of Two Urgent Care Clinics in Oklahoma

by Taylor Williams

ELK CITY AND ENID, OKLA. — Marcus & Millichap has arranged the sale of two retail properties that are net leased to urgent care clinics in Oklahoma for a combined price of $4.7 million. The facilities, both of which are operated by Xpress Wellness, are located in Elk City and Enid, about 100 miles west and north of Oklahoma City, respectively. Dominic Sulo and Benjamin Bach of Marcus & Millichap represented the seller and procured the buyer, both of which were undisclosed limited liability companies, in the transactions.

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