Healthcare

Opus Completes 183,000 SF Headquarters for AAP in Itasca, Illinois

by Kristin Harlow February 12, 2018

ITASCA, ILL. — The Opus Group has completed a new corporate headquarters for the American Academy of Pediatrics (AAP) in Itasca. The 183,000-square-foot building will be home to 455 employees and serve as a national hub for the organization’s 66,000 primary care pediatricians, pediatric medical sub-specialists and pediatric surgical specialists. The build-to-suit property is located within the Hamilton Lakes Business Park and features 81 rooms for meeting space. Eric Kunkel and Schott Ohlander of JLL began assisting AAP with locating property for the project in 2014. Opus Design Build was the design-builder for the project, while Stantec was the architect of record. Opus Development Co. provided development support services.

February 12, 2018

Healthcare Midwest Minnesota

Cushman & Wakefield Arranges Sale of 83,378 SF Medical Office Building in Bloomington, Minnesota

by Kristin Harlow February 9, 2018

BLOOMINGTON, MINN. — Cushman & Wakefield has arranged the sale of TRIA Orthopaedic Center in Bloomington for an undisclosed price. The 83,378-square-foot medical office building is located at 8100 Northland Drive near I-494. The three-story building was constructed in 2004. Scott Pollock, Tom O’Brien, Avery Ticer and Terry Kingston of Cushman & Wakefield represented the seller, United Properties. A private investor acquired the asset.

February 9, 2018

Healthcare Texas

Norvin Acquires 505,000 SF Medical Office Park in Metro Houston

by Taylor Williams February 5, 2018

BELLAIRE, TEXAS — Houston-based investment firm Norvin Healthcare Properties has acquired the 505,000-square-foot Pin Oak medical office complex in the Houston metro of Bellaire. The five-building property is located roughly 3.5 miles from the Texas Medical Center and is leased to healthcare tenants such as Memorial Hermann, Kindred Healthcare and Texas Children’s Hospital. Norvin intends to make capital upgrades to the property’s mechanical systems, parking garages and tenant amenities.

February 5, 2018

Healthcare Texas

MYCON Breaks Ground on 58,485 SF Healthcare Project in Irving

by Taylor Williams February 1, 2018

IRVING, TEXAS — MYCON General Contractors has broken ground on a 58,485-square-foot medical office building in Irving. The property will be leased to healthcare operator Baylor Scott & White and feature 226 surface parking spaces. Developed by Houston-based PMRG and designed by Dallas-based GSR Andrade Architects Inc., the property will be located next to Baylor Scott & White’s full-service hospital. Completion is slated for this summer.

February 1, 2018

Healthcare Maine Northeast Office

Fantini & Gorga Secures $4.5M Acquisition Loan for Medical Office Building in Topsham, Maine

by Amy Works January 29, 2018

TOPSHAM, MAINE — Fantini & Gorga has arranged a $4.5 million loan for the acquisition of a single-tenant medical office property located in Topsham. The Central Maine Medical Center occupies the 15,000-square-foot building. The tenant has 11 years remaining on its initial 20-year lease and leases 100 percent of the building. Keith Wentzel, Chris Miller and Jon Garcia of Fantini & Gorga represented the undisclosed buyer in the financing transaction.

January 29, 2018

Healthcare Office Southeast Virginia

Avison Young Brokers Sale of 72,255 SF Medical Office Building in Northern Virginia

by Camren Skelton January 26, 2018

FREDERICKSBURG, VA. — Avison Young has arranged the sale of Lee’s Hill Plaza, a 72,255-square-foot medical office building located at 10401 Spotsylvania Ave. in Fredericksburg. A joint venture between Flagship Healthcare Properties and Drake Real Estate Partners sold the Class A building. Jim Kornick, Mike Wilson, Chip Ryan, Erik Foster and Mark Johnson of Avison Young arranged the transaction. Other terms of the deal were not disclosed. Flagship and Drake originally acquired the asset in 2014 and increased occupancy by more than 20 percent. Mary Washington Healthcare System anchors the building, which was 91 percent leased at the time of sale. Additional tenants include the U.S. Department of Veterans Affairs, Radiologic Associates of Fredericksburg and Virginia Interventional and Vascular Associates.

January 26, 2018

Healthcare Texas

Ridgeline Sells 43,119 SF Medical Office Building in Flower Mound

by Taylor Williams January 24, 2018

FLOWER MOUND, TEXAS — Ridgeline Capital Partners has sold Prairie View Medical Plaza, a 43,119-square-foot medical office building in the Dallas-Fort Worth (DFW) metro of Flower Mound. Built in 2013, the property was 100 percent occupied at the time of sale to tenants providing dermatology, pediatrics and dental services. The property includes a lab, diagnostics center and a pharmacy. The buyer was not disclosed.

January 24, 2018

Healthcare Oklahoma Texas

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

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