OMAHA — Investors Real Estate Trust has sold the Nebraska Orthopaedic Hospital in Omaha for $24.3 million to the in-place tenant. The 61,758-square-foot facility is located at 2808 S. 143rd Plaza. The hospital provides services such as physical therapy, diagnostic imaging, surgery and rheumatology. The facility also features an infusion clinic. Investors Real Estate Trust primarily invests in income-producing medical office and apartment properties located in the upper Midwest.
SADDLE BROOK, N.J. — NAI James E. Hanson has arranged the sale of a medical office building located at 190 Midland Ave. in Saddle Brook. Brook Development LLC sold the 18,140-square-foot property to a private buyer for an undisclosed price. The two-story building houses three operating rooms and a Joint Commission on Accreditation of Healthcare Organizations outpatient surgical center. Additionally, the facility is outfitted with fiber optic cables, integrated services digital network Internet access and ample covered parking. Darren Lizzack, Randy Horning and Hal Messer of NAI Hanson represented the seller and buyer in the transaction.
BROOKHAVEN, GA. — The Atlanta Hawks Basketball Club and Emory Healthcare have partnered to build a 90,000-square-foot training and sports medicine center on Executive Park Drive in Brookhaven, which will serve as the team’s official practice site. The privately funded facility will cost roughly $50 million to develop, according to the Atlanta Journal-Constitution. The project will feature a fully dedicated recovery area including cryotherapy, sensory deprivation tanks and in-ground hydrotherapy. All non-sports orthopaedic specialties will be located two blocks away at The Emory Orthopaedics & Spine Center. The team expects to break ground this summer, and the Hawks Basketball Operations Department will be housed in the facility upon its completion. In addition to the naming rights entitlement of the training and sports medicine facility, Emory will become the official sports medicine provider of the team. The Hawks’ new facility will be the first in the NBA to be co-located with an entire sports medicine center, allowing for expert and immediate treatment and on-site access to state-of-the-art equipment such as a 3 Tesla MRI scanner. Emory will utilize roughly 30,000 square feet that will offer preventative and rehabilitative treatment and sports performance training. The entire roster of doctors, surgeons and specialists …
MOKENA, ILL. — MedProperties Holdings LLC has acquired a 28,334-square-foot surgery center in Mokena, approximately 40 miles southwest of Chicago, for an undisclosed price. The Center for Minimally Invasive Surgery (CMIS) is situated on 3.5 acres at 19110 Darvin Drive. Surgical Care Affiliates Inc. was the seller. The facility consists of a 14,000-square-foot surgery center with four operating rooms, a 5,350-square-foot recovery center with five overnight stay rooms and medical office space. The building was constructed in 2002 and the recovery center and office space was added in 2008. Erik Tellefson of Capital One, arranged debt financing for the acquisition.
EL PASO, TEXAS — Pima Medical Institute has purchased a 40,000-square-foot building in El Paso to expand its medical course offerings. The school will relocate from a smaller campus on Burnham Road to the former Saddleblanket Co. building at 6926 Gateway Blvd. East in fall 2016 once renovations are complete. Upon closure of Anamarc College in June 2014, Pima Medical stepped in and began teaching the former college’s 76 occupational therapy assistant students. In addition to the current program offerings of occupational therapy assistant, medical assistant and medical administrative assistant, more programs will be added to the new location, including certificate programs in dental assistant, pharmacy technician, veterinary assistant, central sterile processing and phlebotomy technician. Rebecca Rojas of CBRE’s El Paso office, along with Nancy McClure of CBRE’s Tucson office, represented Pima Medical Institute in the site search and sale negotiations.
CHARLOTTE, N.C. — Crosland Southeast and Childress Klein have signed Horizon Eye Care to an 8,300-square-foot lease at Waverly, a 90-acre master-planned development in Charlotte. The eye care provider will occupy space in a 22,000-square-foot medical office building located at 11835 Southmore Drive near the intersection of Providence Road and Providence Country Club Drive. The property will be located next to Novant Health’s urgent care and family healthcare practices. Construction began in February on new the medical office building. Travis Hart and Jenny Fowler of Childress Klein represented the ownership group in the lease transaction.
SAN ANTONIO — Stream Realty Partners has arranged the sale of a 6,000-square-foot medical office building located at 21708 Hardy Oak Blvd. in the far north-central submarket of San Antonio. Michael Kent of Stream Realty represented the seller, LAIT Texas LLC, in the transaction. The property was built in 2001 and tenants include Physical Therapy and Birth Center Stone Oak. The building is near North Central Baptist and Stone Oak Methodist hospitals, with access to Loop 1604 and Highway 281.
SAN ANTONIO AND CHICAGO — San Antonio-based USAA Real Estate Co. and HSA PrimeCare, a division of Chicago-based HSA Commercial Real Estate, have formed a joint venture to acquire and develop outpatient healthcare real estate assets across the Midwest. Along with the announcement, the joint venture also made its first acquisition, a 97,375-square-foot portfolio, for an undisclosed price. The three-property portfolio consists of the Advocate Christ Outpatient Center in Tinley Park, Ill., the Coffee Creek Medical Office Building in Chesterton, Ind. and the APAC Medical Plaza in Crown Point, Ind. The joint venture will acquire an array of medical buildings such as medical office buildings, cancer centers, ambulatory surgery centers, medical wellness centers and other specialty centers. HSA PrimeCare will provide investment analysis, development, leasing and property management services to the partnership.
INDIANAPOLIS — What does the future hold for the healthcare real estate industry in 2016? In a new white paper penned by Keith Konkoli, executive vice president of healthcare at Duke Realty (NYSE: DRE), the author predicts the industry will experience an increase in the development of new facilities, as well as an uptick in consolidation in 2016. Here’s a summary of five key trends and issues the firm expects this year and beyond: 1. Healthcare real estate construction will continue to increase — Healthcare development has been strong in recent years, and there should be no letup in activity in 2016. A recent study by the American Institute of Architects (AIA) says it expects “healthy growth” for non-residential construction this year. That includes the healthcare sector, which AIA predicts will experience a 5.8 percent increase in construction in 2016. The industry is experiencing an uptick in the development of a wide variety of healthcare properties, including rehabilitation hospitals, medical office buildings and off-campus emergency rooms/community micro-hospitals. Even so, the industry hasn’t reached a point of saturation and providers aren’t yet overbuilding. 2. Healthcare providers will need to deal with the challenges of ‘site neutrality’ — An important but perhaps overlooked …
CHARLOTTE, N.C. — Charlotte-based Childress Klein and Vienna, Va.-based Cambridge Healthcare Solutions LLC have completed the construction of the largest Department of Veterans Affairs (VA) Health Care Center in the United States. The $150 million, 429,000-square-foot property is situated on a 35-acre lot at the intersection of Tyvola Road and Cascade Pointe Blvd. in Charlotte. The developers plan to hold the asset long-term and will remain as the property’s asset managers throughout the VA’s 20-year lease. The Charlotte VA Health Care Center will provide primary care and specialty services for up to an estimated 35,000 veterans enrolled in the VA healthcare system. Departments operating out of the clinic will include cardiology, audiology and speech, mental health, radiology, infectious disease, women’s health, ophthalmology and optometry, dental, gastroenterology, oncology follow-up and physical medicine and rehab, as well as four full operating rooms.