Healthcare

Inland Purchases 33,500 SF Medical Office Building in Oklahoma City

by Taylor Williams January 19, 2018

OKLAHOMA CITY — Inland Real Estate Acquisitions LLC has purchased the Surgical Hospital of Oklahoma, a 33,500-square-foot medical office building located at 100 SE 59th St. near downtown Oklahoma City. The inpatient, acute care hospital offers 12 beds and seven operating rooms equipped to handle laser procedures, pain management and short-term hospitalization. Mark Cosenza and David Neboyskey of Inland secured the acquisition on behalf of an Inland affiliate. Mark West, Coler Yoakam, Anthony Frogameni and Michael George of HFF represented the seller, Atlanta-based Pro Realty LLC.

January 19, 2018

Healthcare North Carolina Southeast Top Stories

CBRE Arranges $142M Sale of Duke University Medical Office Building in North Carolina

by Kristin Harlow January 19, 2018

DURHAM, N.C. — CBRE has arranged the sale of Hock Plaza, a 327,160-square-foot medical and educational office building in Durham. Harrison Street Real Estate Capital LLC acquired the 12-story building from Hines. The sales price was $142 million, according to the Triangle Business Journal. Constructed in 2004, Hock Plaza is situated on more than 2.5 acres at 2424 Erwin Road, adjacent to Duke University Hospital. The building is home to 34 different Duke University medical institutes, centers and research functions, including Duke Cancer Institute, the Center for Autism and Brain Development, and the Center for Smoking Cessation. The property, which includes a 1,057-space parking garage, is located within North Carolina’s Research Triangle. Jay O’Meara, Will Yowell, Lee Asher, Chris Bodnar and Ben Kilgore of CBRE arranged the transaction on behalf of the seller. The sales price was a record price per square foot in the state of North Carolina, according to O’Meara. Chicago-based Harrison Street is a real estate investment management firm focused on the education, healthcare and storage sectors. The firm has approximately $12.8 billion in assets under management. Houston-based Hines is a privately owned global real estate investment, development and management firm with $100 billion in assets under management. — …

January 19, 2018

Healthcare Kansas Midwest

CNL Healthcare Acquires 38,496 SF Medical Office Building in Overland Park, Kansas for $14M

by Kristin Harlow January 10, 2018

OVERLAND PARK, KAN. — CNL Healthcare Properties II has acquired a 38,496-square-foot medical office building in Overland Park for $14 million. Constructed in 2007, the building is located at 5525 W. 199th St. on the campus of HCA Menorah Medical Center. The two-story property is fully leased to five tenants, with an ambulatory surgical center anchoring the property. Evan Kovac, Ben Appel, Anthony Frogameni, Andrew Milne, Matt DiCesare and Sean Fogarty of HFF represented the undisclosed seller. The team also procured the buyer, which is a non-traded REIT sponsored by CNL Financial Group.

January 10, 2018

Healthcare Mixed-Use Texas

Archway to Develop 111-Acre Mixed-Use Project in Metro Houston

by John Nelson January 9, 2018

HUMBLE, TEXAS — Archway Properties plans to develop Park Air 59, a 111-acre mixed-use project located along U.S. Highway 59 in Humble, roughly 20 miles northeast of Houston near George Bush International Airport. The project’s first build-to-suit is currently under construction on a 4.2-acre tract at the junction of U.S. Highway 59 and Will Clayton Parkway. Archway is developing a 65,000-square-foot, three-story medical office building for Vital Heart & Vein, a cardiology practice based in Houston. The clinic is set to open this summer. Austin Alvis of Houston-based NewQuest Properties and Preston Cunningham of Cunningham Ventures are marketing Park Air 59 and co-brokered the land sale to the cardiology group. Jeries Ganim of Commercial Regional Properties of Texas LLC represented the cardiology group in its site acquisition. Houston-based Archway has assembled the acreage over the last several years for Park Air 59, which upon completion will include medical, retail, restaurants, industrial and additional service-based tenants.

January 9, 2018

Healthcare Midwest Minnesota

CBRE Arranges $367.7M Sale of Medical Office Portfolio in Metro Twin Cities

by Kristin Harlow January 8, 2018

MINNEAPOLIS — CBRE has arranged the sale of 25 medical office buildings owned by IRET (NYSE: IRET) to Harrison Street Real Estate Capital LLC for $367.7 million. Most of the properties are located in the Twin Cities metro area, with additional facilities in central Minnesota, Montana, North Dakota, Nebraska and Wisconsin. Chris Bodnar and Lee Asher of CBRE partnered with BMO Capital Markets to serve as advisors on the sale. The transaction follows a November announcement by IRET that the company had entered into a purchase and sale agreement to sell its entire healthcare portfolio, which totals 29 properties. The Minot, North Dakota-based company plans to complete the sale of its remaining healthcare-related properties over the next six months as part of its transition to a multifamily-focused company, according to IRET.

January 8, 2018

Healthcare Texas

Inland Real Estate Acquisitions Closes Purchase of Medical Office Building in Dallas

by John Nelson January 5, 2018

DALLAS — Inland Real Estate Acquisitions LLC has closed the purchase of a 16,050-square-foot medical office building located at 5494 Glen Lakes Drive in Dallas. Built in 2003 and situated across from Texas Health Presbyterian Hospital, the property is leased to Dallas Eye Care Associates on the street level and Walnut Hill Surgery Center on the third floor. The property also features ground-level parking. Matthew Tice of Inland Real Estate Acquisitions and David Neboyskey of The Inland Real Estate Group’s law department arranged the transaction on behalf of an Inland affiliate.

January 5, 2018

Healthcare Office Southeast Virginia

Avison Young Arranges $62.5M Sale of Medical Office Building in Metro D.C.

by Camren Skelton January 4, 2018

FAIRFAX, VA. — Avison Young has arranged the sale of Merrifield-Fairfax Medical Campus, a 119,788-square-foot medical office building located at 3023 Hamaker Court in Fairfax, roughly 20 miles west of Washington, D.C. Grosvenor Americas Inc. sold the asset for $62.5 million to Harrison Street Real Estate, according to the Washington Business Journal. Jim Kornick, Chip Ryan, Mike Wilson, Erik Foster and Mark Johnson of Avison Young arranged the transaction. Situated adjacent to the Inova Fairfax Hospital campus, the building was 84.5 percent leased at the time of sale to tenants including Children’s National Health System and Pediatric Specialists of Virginia, a venture between Children’s and Inova. In addition, the transaction included a 120,000-square-foot adjacent site that has been approved for a second phase of development.

January 4, 2018

Healthcare Illinois Midwest

Inland Purchases 13,000 SF Medical Office Building in Elmhurst, Illinois

by Kristin Harlow January 4, 2018

ELMHURST, ILL. — Inland Real Estate Acquisitions LLC has purchased the Edward-Elmhurst Health Center in Elmhurst, about 20 miles west of Chicago. The purchase price was not disclosed. The 13,000-square-foot medical office building is located at 755 N. York St. Newly constructed in 2017, the property is home to Edward Health Ventures, which operates as Edward-Elmhurst Health. Serving as a medical office space, the property includes 10 exam rooms, one procedure room, one endoscopy suite and four recovery rooms. The center features physicians who specialize in family medicine, internal medicine, obstetrics/gynecology and gastroenterology. Mark Cosenza and Brett Smith of Inland completed the deal on behalf of an Inland affiliate. The seller was not disclosed.

January 4, 2018

Healthcare Texas

Adolfson & Peterson Completes Medical Office Building in Southlake

by John Nelson January 3, 2018

SOUTHLAKE, TEXAS — Adolfson & Peterson Construction (AP) has completed a new medical office building at the corner of Tower and Southlake boulevards in Southlake for United Surgical Partners Inc. (USPI). Designed by E4H Architects, the two-story medical office building spans 46,000 square feet. The healthcare facility is the fifth project that AP has contracted with USPI and its ninth project with E4H. USPI is an ambulatory healthcare provider serving more than 2.5 million patients each year and partnering with over 50 not-for-profit health systems nationwide. The Addison, Texas-based company currently operates more than 260 ambulatory surgery facilities, 92 urgent care centers and 23 imaging centers.

January 3, 2018

Healthcare Kansas Midwest

NGZ Brokers Sale of 8,400 SF Medical Office Building in Olathe, Kansas

by Kristin Harlow January 2, 2018

OLATHE, KAN. — Newmark Grubb Zimmer (NGZ) has brokered the sale of an 8,400-square-foot medical office building in Olathe for an undisclosed price. The Class A building, constructed in 2006, is located at 820-832 W. Frontier Lane near the Olathe Medical Center. The property was 85 percent occupied at the time of sale by two tenants, Preferred Pediatrics and KC Allergy and Asthma. Michael VanBuskirk, Justin Beal and Chris Robertson of NGZ brokered the sale on behalf of the seller, a local private investor group. Don Maddux of Block Real Estate Services LLC represented the buyer, a California-based private investor.

January 2, 2018

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