MORENO VALLEY, CALIF. — Progressive Real Estate Partners has negotiated a medical/retail lease for Lifestream Blood Bank to occupy space at 24199 Hemlock Ave. in Moreno Valley. Paul Su of Progressive Real Estate Partners represented the tenant in the transaction. Lifestream Blood Bank signed a 10-year lease for 3,080 square feet of end-cap space within District at Moreno Valley shopping center. The blood bank is slated to open by summer 2025.
HINSDALE, ILL. — NAI Hiffman has negotiated a 2,330-square-foot medical office lease at 12 Salt Creek Lane within the Salt Creek Medical Campus in Hinsdale, a western suburb of Chicago. Brian Edgerton of NAI Hiffman represented ownership, Remedy Medical Properties, in the lease with Bloom Plastic Surgery. NAI Hiffman also proposed that the landlord complete a speculative build-out of the long-vacant office suite into clinical space. The space now occupied by Bloom Plastic Surgery had been vacant for more than 10 years. Remedy completed the build-out in September. The lease brings the 62,000-square-foot building to 86 percent occupancy. Joey Carr of Carr Realty Advisors represented the tenant.
LAKE OSWEGO, ORE. — A joint venture between Evergreen Medical Properties and Bain Capital’s real estate team has acquired 4004 Kruse Way Place, an office building in Lake Oswego, from San Francisco-based Shorenstein Properties for an undisclosed price. The joint venture plans to convert the three-story, 59,865-square-foot building, which is currently operating as traditional office space, into an outpatient healthcare facility. At the time of sale, asset was 74 percent occupied with Providence Health & Services as the anchor tenant. Evan Kovac of JLL Capital Markets National Medical Properties and Buzz Ellis of JLL Pacific Northwest Advisory represented the seller and procured the buyer in the transaction.
ALISO VIEJO, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a two-story retail and medical building at 26711 Aliso Creek Road in Aliso Viejo. A San Francisco-based private investor sold the asset to an Irvine, Calif.-based private investor for $9.4 million. Both parties requested anonymity. Buffalo Wild Wings Grill & Bar, Active Med Supply, Cold Stone Creamery, F45 Training, Kidcreate Studio and three dental offices are tenants at the 24,986-square-foot building, which was built on two acres in 2004. The building is situated within Aliso Viejo Town Center, a 380,000-square-foot development. Sean Cox and Kevin Fryman of Hanley Investment Group represented the seller, while Alton Burgess of Voit Real Estate Services represented the buyer in the deal.
HIGHLAND PARK, ILL. — Colliers has arranged the $7.4 million sale of a 55,033-square-foot commercial building in the Chicago suburb of Highland Park. Located at 1770 1st St., the property features 17 apartment units on the upper three floors and 36,000 square feet of medical office space home to Robb Orthodontics, Highland Park Maxillofacial & Implant Surgery and Pediatric Dentistry of the North Shore. The apartment units are fully leased, and the medical office portion is 61 percent leased. Constructed in 1988, the building sits atop a 447-space public parking garage and is across the street from the Highland Park Metra stop. Alissa Adler, John Homsher, Tyler Hague and Lauren Stoliar of Colliers represented the seller, Fulton Design + Build. QMR Partners was the buyer.
NAPERVILLE, ILL. — A joint venture between Capital Healthcare Properties and HSG Medical has entered the permitting phase of a project to create a specialized cardiovascular center in the Chicago suburb of Naperville. The outpatient ambulatory surgery treatment center (ASTC) will be built for a Chicago-area healthcare system. The ASTC will transform a former 43,000-square-foot fitness facility at 1836 Freedom Drive. The joint venture has been coordinating with consultants, the health system and the city for over a year. The original design and use of the building as a fitness center, including 25-foot ceiling heights and minimal columns, promotes an efficient and flexible floor plan to maximize the space for a complex healthcare build-out, according to the development team. The building, constructed in 2008, sits on a five-acre lot and offers more than 200 parking spaces. Construction is set to commence this quarter, with the first patients expected to be seen in the new facility in 2026. The project team includes architects Antunovich Associates and HDR, civil engineer V3 Cos., mechanical, electrical and plumbing engineer IMEG, landscape architect Hitchcock Design Group and general contractor Boldt. Brett Berlin of Quantum Real Estate Advisors Inc. brokered the $7.5 million sale of the …
LEBANON, IND. — Eli Lilly and Co. (NYSE: LLY) has unveiled plans to invest $4.5 billion to create the Lilly Medicine Foundry, a new center for advanced manufacturing and drug development in Lebanon, about 27 miles northwest of Indianapolis. The Medicine Foundry, slated to open in late 2027, will be located in Indiana’s LEAP Research and Innovation District. The project brings Lilly’s total investment in the area to more than $13 billion. Earlier this year, Lilly released plans for a $5.3 billion expansion of its pharmaceutical manufacturing facility in Lebanon. “As we accelerate our work to discover new medicines for the toughest diseases, we’re continuing to invest in state-of-the-art infrastructure to support our growing pipeline,” says David Ricks, Lilly’s chair and CEO. “In addition to supplying high-quality medicine for our clinical studies, this new complex will further strengthen our process development and scale up our manufacturing capabilities to speed delivery of next-generation medicines to patients around the world.” Lilly says the flexible design of the new facility will enable production of various molecular therapies, including drug substances for small molecules, biologics and nucleic acid therapies. New technologies developed at the Medicine Foundry will be transferred to Lilly’s other manufacturing sites …
NEW YORK CITY — Healthcare provider NewYork-Presbyterian has signed a 10,189-square-foot lease in The Bronx. The space is located within the 60,000-square-foot building at 2510 Westchester Ave., which is also home to practitioners in specialty fields such as orthopedics and sports medicine, behavioral health and acupuncture. Both the tenant and the landlord, Simone Development, were self-represented in the lease negotiations.
SOUTH POINT, OHIO — Catalyst Healthcare Real Estate and Heitman have broken ground on a new 51,000-square-foot inpatient rehabilitation hospital in South Point along the Ohio River. The project marks the ninth hospital Catalyst has delivered for PAM Health, and the second in Ohio. The 42-bed facility will be fully leased and operated by PAM Health. The hospital will provide inpatient and outpatient physical, occupational and speech therapy services.
BROOKHAVEN, GA. — On Sunday, Children’s Healthcare of Atlanta (CHOA) is set to open Arthur M. Blank Hospital, a 2 million-square-foot children’s hospital located in the northeastern Atlanta suburb of Brookhaven. The Atlanta Journal-Constitution reports that development costs for the facility, which is situated at the heart of CHOA’s new North Druid Hills campus, totaled approximately $1.5 billion. Arthur M. Blank Hospital rises 19 stories on a 70-acre site at the corner of I-85 and North Druid Hills Road. The new facility offers 446 patient beds, a 70,000 square-foot emergency department with 69 emergency exam rooms and a level one pediatric trauma center — the only dedicated one in Georgia, according to CHOA. The new hospital is named after Arthur Blank, one of the founders of The Home Depot and the current owner of the Atlanta Falcons and Atlanta United professional sports teams. The Arthur M. Blank Family Foundation made a $200 million donation to help fund the cost of the new hospital. The property also offers amenities for patients and their families, such as lounges, libraries, child life activity rooms, a business center and laundry facilities and kitchenettes on every floor. The building cafeteria, dubbed The Eatery, will provide patient …