Healthcare

BROOKHAVEN, GA. — Children’s Healthcare of Atlanta (CHOA) has broken ground on its Center for Advanced Pediatrics ambulatory care center, a new 260,000-square-foot facility situated at I-85 and North Druid Hills Road in Brookhaven, a suburb of Atlanta. Located at 1400 Tullie Road N.E., the Center for Advanced Pediatrics will house 457 physicians and employees and anticipates managing more than 100,000 patient visits in the first year. The development cost was undisclosed, but the Atlanta Business Chronicle reports that contractors familiar with the project estimate that the facility could cost anywhere from $90 million to $120 million to build. Pulmonology, neurology, cardiology and diabetes are a few of the specialties that will move into the new building, which will be centrally located to CHOA’s three hospital campuses: Egleston, Hughes Spalding and Scottish Rite. Basic imaging and phlebotomy services will also be available at the facility. In addition to physician space, the six-story property will have telemedicine capabilities, flexible exam rooms, a teaching classroom and a demonstration kitchen. Additional features of the site include gardens and green space around the building and a dedicated parking deck. CHOA has not announced an expected completion date.

FacebookTwitterLinkedinEmail
520-Franklin-Ave-Long-Island-NY

LONG ISLAND, N.Y. — Cronheim Mortgage has arranged $12.7 million in refinancing for two medical office buildings located at 520 Franklin Ave. in Long Island’s Garden City. The properties total 100,141 square feet. The loan was structured with an initial five-year fixed-rate period locked at 3.875 percent followed by a five-year extension option. David Turley, Janet Proscia and Jeff Pacailler of Cronheim arranged the financing for the undisclosed borrower.

FacebookTwitterLinkedinEmail

GRIFFIN, GA. — Randolph Williamson, a real estate construction, development and management firm based in Peachtree City, Ga., has delivered a 53,970-square-foot medical facility located adjacent to Spalding Regional Hospital in Griffin. Developed by Group VI Development, the project broke ground in 2014. Other members of the project team for the new facility include WM2A Architects and Medical Management Associates Inc. The building includes 72 exam rooms, new labs and an enclosed pedestrian bridge to Spalding Regional.

FacebookTwitterLinkedinEmail
stamford-icp-stamford-ct

STAMFORD, CONN. — MedCraft Healthcare Real Estate has completed the development of Stamford Integrated Care Pavilion, located at 29 Hospital Plaza on the main campus of Stamford Health in Stamford. Connected to the Stamford Hospital, the 97,000-square-foot facility features three levels of clinical offices on top of a 382-car parking deck. The first practices to open at the facility include Stamford Health Medical Group Electrophysiology, Cardiology and Thoracic Surgery offices. When fully operational, the facility will house various specialists and services. The project team includes Suffolk Construction and WHR Architects.

FacebookTwitterLinkedinEmail

SUGAR LAND, TEXAS — Capital One has provided a $21.2 million first mortgage to a joint venture between Harrison Street Real Estate Partners and Pisula Development Co. for the acquisition of Imperial Medical Center in Sugar Land, a suburb of Houston. The property features 128,000 square feet of medical office space.

FacebookTwitterLinkedinEmail
coit-medical-center-dallas

DALLAS — HFF has arranged the sale of Coit Medical Center, a medical office building located at 12230 Coit Road in Dallas. Mohr Capital sold the 32,201-square-foot property to Anchor Health Properties for an undisclosed price. Baylor Scott & White Health, Greater Dallas Orthopaedics, Legacy Heart Care, Texas Orthopaedic Surgical Associates and Lester Plastic Surgery occupy the fully leased building, which was built in 2009. Evan Kovac, Todd Savage, Philip Mahler and Ben Appel of HFF represented the seller in the deal.

FacebookTwitterLinkedinEmail

MARLTON, N.J. — Carter Validus Mission Critical REIT II Inc. has acquired Select Medical Rehabilitation Facility in Marlton for $63.6 million. Built in 1995, the three-story rehabilitation building offers 89,000 rental square feet and is net leased to Kessler Institute for Rehabilitation Inc., a subsidiary of Select Medical Holdings Corp. The tenant offers a variety of services including inpatient physical, occupational, speech and recreational therapy and outpatient aquatic therapy, prosthetic training, lymphedema management, balance rehabilitation and vestibular therapy. The name of the seller was not released.

FacebookTwitterLinkedinEmail

OVERLAND PARK, KAN. — Everest Medical Core Properties has acquired Foxhill Medical Center in Overland Park for $9 million. The 52,000-square-foot, three-story building features medical and dental suites. The property is located near I-435 in close proximity to several major hospitals and surgical centers. The building was renovated in 1998, and major exterior enhancements were completed in 2016. The building is 97 percent occupied, with an average of four years remaining on lease terms.

FacebookTwitterLinkedinEmail
University Hospital, Charlottesville, Va.

CHARLOTTESVILLE, VA. — Skanska USA, a division of the Sweden-based construction company, has been chosen for a $142 million renovation and expansion of University Hospital, located on the University of Virginia campus in Charlottesville. The main part of the expansion will be a 425,000-square-foot, 15-story tower on a plot adjacent to the current hospital, a helipad that is no longer in use. The expansion includes a new emergency department, surgical suites, a six-story inpatient section and expanded ancillary services. The project also includes 95,000 square feet of renovations to the existing buildings, including new drop-off and entry points for the ambulances. The project will be completed in phases. The tower is scheduled to open in the fourth quarter of 2019, and the renovations are scheduled for completion in the fourth quarter of 2020. The hospital is part of the University of Virginia Health System. International architecture firm Perkins+Will designed the project. — Jeff Shaw

FacebookTwitterLinkedinEmail

KINGWOOD, TEXAS — Origin Investments has completed the disposition of Kingwood Medical Arts, a medical office building located at 300-350 Kingwood Medical Drive in Kingwood. A healthcare REIT acquired the property for an undisclosed price. The 90,000-square-foot property is anchored by a 30,000-square-foot surgical center operated by a venture between Memorial Hermann Health System and United Surgical Partners.

FacebookTwitterLinkedinEmail