Healthcare

Skanska to Build $230M Ambulatory Care Pavilion at Westchester Medical Center in New York

by Katie Sloan April 11, 2016

VALHALLA, N.Y. — Westchester Medical Center Health Network has selected Skanska to build a $230 million, 279,861-square-foot Ambulatory Care Pavilion adjacent to Westchester Medical Center on its campus in Valhalla, approximately 25 miles north of Manhattan. The eight-story steel and glass pavilion will include 185,000 square feet of ambulatory care service space featuring an advanced imaging center, ambulatory surgery center and a heart and vascular institute. The development will also feature an entry canopy for patient drop-off, a 20,000-square-foot private-room expansion for Westchester Medical Center and an additional 75,000 square feet of physician offices. Construction is expected to begin this June, with completion expected in September 2018. Skanska’s contract for the project is valued at $140 million. According to the hospital, the development is considered the largest healthcare project in the Westchester area since Westchester Medical Center’s 400,000-square-foot main tower was built in 1977 and its 250,000-square-foot Maria Fareri Children’s Hospital was built in 2004. Skanska is a project development and construction firm with expertise in construction, development of commercial and residential properties, and public-private partnerships. The Westchester Medical Center Health Network is a 1,400-bed healthcare system headquartered in Valhalla, spanning seven hospitals in the Hudson Valley. — Katie Sloan

April 11, 2016

Healthcare Massachusetts Northeast Office

RAM Acquires 97,403 SF Flex Property in Massachusetts for $8.1M

by Amy Works April 8, 2016

BILLERICA, MASS. — The RAM Companies has acquired a Corporate Place, a 97,403-square-foot property located at 261 and 267 Boston Road in Billerica, for $8.1 million. Built in 1985 and 1986, the Class B multi-tenant asset comprises a 61,795-square-foot facility and a 35,608-square-foot building. The flex/R&D property is 85 percent occupied with a variety of tenants, including Lahey Health Primary Care, New England Rehabilitation Hospital and SI2 Technologies. The name of the seller was not released.

April 8, 2016

Healthcare Midwest Wisconsin

Physicians Realty Trust to Acquire 52 Medical Office Assets for $724.9M

by Christina Cannon April 8, 2016

MILWAUKEE — Physicians Realty Trust, a healthcare REIT, has executed a series of purchase and sales agreements, as well as a letter of intent, to acquire 52 medical office facilities from the Catholic Health Initiatives (CHI) for $724.9 million. The CHI portfolio is 94 percent leased and contains 3.1 million square feet of space across 10 states. Approximately 93 percent of the in-place net operating income during the first year will stem from new 10-year lease agreements. The portfolio purchase price includes $32.9 million of future capital improvements, most of which will be completed in the next five years. Physicians Realty Trust expects to close the acquisition in two tranches, the first of which will close this month and cost $202 million. The acquisitions are subject to customary closing conditions, which include the Vatican’s approval to purchase 35 facilities. Catholic Health Initiatives, the fifth largest non-profit health system in the United States, owns over 103 hospitals.

April 8, 2016

Healthcare Midwest Nebraska

Investors Real Estate Trust Sells Nebraska Orthopaedic Hospital in Omaha for $24.3M

by Christina Cannon April 7, 2016

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.

April 7, 2016

Healthcare New Jersey Northeast Office

NAI Hanson Brokers Sale of 18,140 SF Medical Office Building in New Jersey

by Amy Works April 7, 2016

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.

April 7, 2016

Georgia Healthcare Southeast

Emory Healthcare, Atlanta Hawks to Build $50M Sports Medicine Center, Team Training Facility

by John Nelson April 6, 2016

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 …

April 6, 2016

Healthcare Illinois Midwest

MedProperties Acquires 28,334 SF Surgery Center in Southwest Chicago Suburb

by Christina Cannon March 30, 2016

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.

March 30, 2016

Healthcare Office Texas

CBRE Negotiates Sale of Building in El Paso for Pima Medical Institute

by Haisten Willis March 18, 2016

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.

March 18, 2016

Healthcare North Carolina Southeast

Crosland Southeast, Childress Klein Sign Horizon Eye Care to Lease in Waverly Development

by John Nelson March 18, 2016

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.

March 18, 2016

Healthcare Office Texas

Stream Realty Arranges Sale of 6,000 SF Medical Office Building in San Antonio

by Haisten Willis March 16, 2016

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.

March 16, 2016

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