Healthcare

M&M Arranges Sale of 10,453 SF Net Leased Property in Fort Worth

by Haisten Willis October 6, 2015

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Complete Emergency Care, a 10,453-square-foot net-leased medical property located in Fort Worth. Philip Levy and Chris Gainey of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Levy and Gainey also secured the buyer, a limited liability company. Complete Emergency Care is located at 6006 Camp Bowie Blvd. The triple-net lease has a corporate guarantee. Four years remain on the primary term with annual CPI adjustments, and the tenant has one, 10-year option for renewal. The building was constructed in 1990 and sits on 0.8 acres.

October 6, 2015

Healthcare Loans Midwest Wisconsin

Love Funding Arranges $25.9M HUD Refinancing Loan for Hospital in Edgerton, Wis.

by Christina Cannon October 6, 2015

EDGERTON, WIS. — Love Funding has closed a $25.9 million HUD refinancing loan for Edgerton Hospital and Health Services in Edgerton, approximately 30 miles outside of Madison. Steven Hunt of Love Funding secured the loan through HUD’s 242/223(a)(7) loan insurance program. The facility was built in 2011 with a FHA-insured loan. The new loan, which is non-recourse for a term of 21 years, is expected to generate $244,000 a year in debt-service savings, or more than $5 million over the life of the loan. The hospital includes inpatient care, swing bed care, emergency and urgent care, diagnostic services, rehabilitation and same-day surgery. The hospital is affiliated with SSM Health Care of Wisconsin.

October 6, 2015

Healthcare Illinois Midwest

Leopardo Breaks Ground on $61M Medical Facility in Orland Park

by Christina Cannon October 5, 2015

ORLAND PARK, ILL. — Leopardo has broken ground on the new $61 million University of Chicago Medicine Center for Advanced Care at Orland Park, approximately 25 miles southwest of downtown Chicago. The 108,000-square-foot, four-story facility is located at the intersection of 143rd Street and LaGrange Road. The facility is slated to open in late 2016 and will be the University of Chicago Medicine’s largest off-campus location. The building will consist of a pharmacy and 80 exam rooms and will provide services in radiation oncology, orthopedics, gastroenterology, cardiology, pediatrics, women’s health and surgical consulting. The project is a joint venture between Leopardo and The Bowa Group, in collaboration with architect Tsoi/Kobus & Associates.

October 5, 2015

Healthcare Office Texas

Duke Realty, Baylor Scott & White Break Ground on 75,000 SF Baylor McKinney II MOB Near Dallas

by Haisten Willis October 2, 2015

MCKINNEY, TEXAS — Baylor Scott & White Health, a not-for profit healthcare system, along with Duke Realty, an Indianapolis-based commercial real estate developer, have begun developing the 75,000-square-foot, three-story Baylor McKinney II medical office building (MOB) at 5252 W. University Drive in McKinney. The MOB will be located on the Baylor Medical Center at McKinney campus adjacent to Baylor McKinney I, a 114,924-square-foot MOB which opened in 2012. Baylor McKinney MOB II is expected to be complete in September 2016. The Dallas office of Medco Construction is the general contractor for the project, and the Dallas office of HDR is the architect.

October 2, 2015

Healthcare Michigan Midwest

Henry Ford Health System Plans $110M Cancer Center in Detroit

by Christina Cannon October 1, 2015

DETROIT — The Henry Ford Health System has begun planning a new $110 million cancer center as part of its $500 million expansion and improvement of 300 acres in Detroit. The 144,000-square-foot cancer center will be five stories and include a rooftop garden and skywalk to connect it to Henry Ford Hospital. Completion is slated for summer 2018. Site planning for the facility will be completed by the end of the year. Groundbreaking is slated for spring of 2016. The cancer center will anchor Henry Ford Hospital’s South Campus expansion project. The 10- to 15-year vision for the expansion project includes adding green space and commercial, retail and housing developments. Clinical and support services for each type of cancer diagnosis will be located on the same floor in the new facility, offering a multidisciplinary experience to patients. Surgery will continue to be performed at Henry Ford Hospital. The facility will be funded by internal and philanthropic support.

October 1, 2015

Healthcare Office Texas

Stage Equity Partners Acquires 37,000 SF MOB in Dallas

by Haisten Willis September 30, 2015

DALLAS — Chicago-based healthcare real estate investment company Stage Equity Partners LLC has purchased a 37,000-square-foot, multi-tenant medical office building in Carrollton, a northern suburb of Dallas. The property is Stage Equity’s fourth medical office acquisition in Dallas and its fifth overall in Texas. The single-story, Class A building was acquired in an off-market transaction from the physician owners of OrthoTexas, an orthopedic practice based in Dallas. As part of the transaction, OrthoTexas leased back the majority of the building under a long-term lease. MetroCrest Surgery Center — a joint venture between USPI, Baylor Scott & White Health and Tenet Health — leases the remainder of the building for the operation of an ambulatory surgery center. American Momentum Bank provided financing for the project. The property, located at 4780 North Josey Lane isfully leased. OrthoTexas has 27 physicians and more than 250 employees, and MetroCrest is a prominent surgery center in the region. The property is within 10 minutes of Baylor Carrollton Hospital and Texas Health Resources Presbyterian Plano Hospital.

September 30, 2015

Healthcare Market Reports Texas Texas Market Reports

Healthcare Options Abound in Fast-Growing El Paso Area

by Haisten Willis September 18, 2015

El Paso is a thriving community with active investments across the area ranging from redevelopment of its downtown to new infrastructure across the city. Notable for being the safest city in the Unites States, El Paso is the sixth largest city in Texas and a vital part of one of the largest borderplex metropolitan economies in the world. The city is the focal point of more than $88 billion of the $530 billion annual trade between the United States and its third largest trading partner, Mexico. But trade isn’t the only industry thriving in El Paso, other sectors such as education and healthcare continue on a strong path forward given stable population growth and a significant military base. The City of El Paso has a population just over 679,000. Its metropolitan statistical area, composed of El Paso County and the more recently added Hudspeth County, is home to over 837,000 individuals. The area is projected to grow to nearly 863,000 residents by 2016. Historically, El Paso is among the fastest-growing metropolitan areas in the nation with an average growth per decade of 21 percent from 1960 to 2010. According to a recent report by the UTEP Border Region Modeling Project, …

September 18, 2015

Healthcare New Jersey Northeast

Colliers Arranges Sale of 22,744 SF Medical Office building in New Jersey

by Amy Works September 17, 2015

MOUNT LAUREL, N.J. — An affiliate of Princeton, N.J.-based IBIS Plaza has acquired Larchmont I, a medical office building located at 204 Ark Road in Mount Laurel, for an undisclosed price. Situated on 1.8 acres, the building was constructed in 1981. The buyer plans to renovate the common areas and two of the vacant suites for its IBIS business. Evan Zweben and Marc Islander of Colliers International represented the undisclosed seller in the transaction.

September 17, 2015

Connecticut Healthcare Northeast

O,R&L Commercial Brokers 13,517 SF Lease in Guilford, Connecticut

by Amy Works September 17, 2015

GUILFORD, CONN. — O,R&L Commercial has brokered the lease of 13,517 square feet of medical office space to Guilford Surgery Center LLC (GSC). The space is located at 246 Goose Lane within Innovation Park. GSC is a collaboration between local surgeons and Merritt Healthcare of White Plains, N.Y. The new entity plans to construct an ambulatory surgery center for patients on the site. O,R&L Commercial represented the tenant, while Dow Realty represented the undisclosed landlord in the lease transaction.

September 17, 2015

Healthcare Illinois Loans Midwest

Angelic Real Estate, CGA Capital Complete $21.5M Financing for Presence St. Joseph

by Amy Works September 11, 2015

CHICAGO — Angelic Real Estate and CGA Capital have completed a $21.5 million financing for portions of the new Presence St. Joseph Ambulatory Care Center in Chicago’s Lincoln Park neighborhood. The new facility is currently being built by Milwaukee-based Hammes Co. Upon its completion this fall, the facility will house additional Presence St. Joseph operations, other medical and related tenants, and parking. New York City-based Angelic Real Estate is an investment banking and brokerage firm with more than $6 billion in experience nationally and internationally. CGA Capital is a source for real estate net lease and credit-based financing nationwide.

September 11, 2015

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