Healthcare

Mainstreet, Symphony Post Acute Network Break Ground for Chesterton Medical Resort

by Amy Works May 21, 2015

CHESTERTON, IND. — Mainstreet and Symphony Post Acute Network have broken ground on Symphony of Chesterton, a post-acute care facility located at 2775 Village Point in Chesterton. The 76,701-square-foot property will feature 106 bed and provide short-stay rehabilitation and therapy services, as well as senior living options. Mainstreet is developing the project, which will be operated by Symphony Post Acute Network. The $18.8 million project is expected to bring approximately 360 construction jobs and 150 permanent jobs to the area. The construction is expected to be complete by December.

May 21, 2015

Georgia Healthcare Southeast

MB Real Estate, McWhirter Realty Break Ground on Medical Office Building in Metro Atlanta

by John Nelson May 21, 2015

CONYERS, GA. — MB Real Estate Healthcare Group and McWhirter Realty Partners have broken ground on a 30,000-square-foot medical office building in Conyers Medical Park. Conyers Medical Park is an 11-acre campus situated at 1301 Sigman Road in Conyers, a suburb of Atlanta. The lead tenant for the property is Rockdale Medical Center, a subsidiary of LifePoint Health. Additional tenants include Piedmont Hospital and MD Pain Management. The design team includes general contractor Benning Construction Co. and architect Robertson Loia Roof. The development team expects to deliver the medical office building in the fourth quarter of 2015.

May 21, 2015

Healthcare Northeast Pennsylvania

HFF Arranges $160.7M Sale of Medical Office Building in Philadelphia’s Center City

by Amy Works May 21, 2015

PHILADELPHIA — HFF has arranged the sale of a medical office building located at 833 Chestnut St. in Philadelphia’s Center City district. A publicly traded healthcare REIT purchased the 12-story, 705,061-square-foot property for $160.7 million from Digital Realty Trust. Originally built in 1928, the property has been substantially renovated and was 92 occupied at the time of sale. Major tenants include Thomas Jefferson Hospital, JUP, Thomas Jefferson University, Nemours Children’s Clinic, Ballinger Co. and the U.S. Government. Mark Thomson, Andrew Scandalios, Jose Cruz, Michael Bennett and Philip Mahler of HFF represented the seller in the transaction.

May 21, 2015

Healthcare New York Northeast

WESTMED Medical Group Opens New Facility in Purchase, New York

by Amy Works May 19, 2015

PURCHASE, N.Y. — WESTMED Medical Group has opened its fifth full-service office in Westchester County, N.Y. Located at 3030 Westchester Ave. within Purchase Professional Park in Purchase, the four-story, 85,000-square-foot medical office property is the first new construction along the Interstate 287 corridor in more than 25 years. Developers Simone Healthcare Development and Fareri Associates completed the $22 million property in less than 14 months. The medical facility will offer a variety of specialty practices, including internal medicine, pediatrics, dermatology, endocrinology, ENT, plastic surgery, reproductive endocrinology, critical care and neurology among others.

May 19, 2015

Healthcare Northeast Pennsylvania

Colliers Brokers $3.8M Sale of Healthcare Facility in Pennsylvania

by Amy Works May 15, 2015

TREVOSE, PA. — Colliers International has brokered the sale of a healthcare facility located at 2500 Northgate Road in Trevose. The 24,458-square-foot property traded between two local private entities for $3.8 million. Situated within the 657,000-square-foot Neshaminy Interplex business campus, the property is absolute net-leased to LIFE St. Mary, which is guaranteed by St. Mary Medical Center, a member of investment grade credit CHE Trinity Health. Jeff Algatt and Matthew Shanahan of Colliers represented both parties in the transaction.

May 15, 2015

Healthcare Industrial New York Northeast

Norvin Healthcare Properties Acquires 45,000 SF Property in Long Island City for $66M

by Amy Works May 11, 2015

NEW YORK CITY — An affiliate of New York City-based Norvin Healthcare Properties has acquired a two-story, 45,000-square-foot property, located at 21-21 44th Dr. in Long Island City, for $66 million. Simultaneously with the acquisition, Norvin entered into a 31-year triple-net lease with NYU Langone Medical Center. NYU Langone Medical Center plans to redevelop the industrial property into a multi-specialty ambulatory care facility. The name of the seller was not disclosed.

May 11, 2015

Healthcare New York Northeast Office

GHP Office Realty Launches $6M Renovation at Northern Westchester Executive Park

by Amy Works May 8, 2015

YORKTOWN, N.Y. — GHP Office Realty LLC has launched a $6 million renovation program at Northern Westchester Executive Park, a 26-acre office park in Yorktown. The parks consists of the a 68,000-square-foot medical office property at 2649 Strang Blvd. and a 150,000-square-foot technology/medical/laboratory/call center at 2651 Strang Blvd. Renovations at 2649 Strang Blvd. will include a state-of-the-art fitness center, a café and upgraded common areas. Renovations at 2651 Strang Blvd. will include the interior demolition of 100,000 square feet of flex, office, medical, lab, technology and call center, and the installation of new windows and heating and ventilating systems. Current tenants at the park are ENT & Allergy Associates, Hudson Valley Hematology, North Shore-Long Island JHS, Northern Westchester County Dental, Hudson Valley Oral Surgery, Dialysis Clinic Inc. and Mercy College’s Yorktown Campus.

May 8, 2015

Healthcare New Jersey Northeast Office

Valley Hospital Leases 73,978 SF at Mack-Cali Centre III in New Jersey

by Amy Works May 5, 2015

PARAMUS, N.J. — Valley Hospital has signed a 10-year lease for 73,978 square feet of space at Mack-Cali Centre III in Paramus. Located at 140 East Ridgewood Ave., the property features two towers joined by a seven-story atrium, an on-site café with outdoor seating and advanced building systems. Robert Rudin of Cushman & Wakefield represented the tenant, while Chris DeLorenz of Mack-Cali represented the landlord. Additional terms of the transaction were not disclosed.

May 5, 2015

Healthcare Loans Mixed-Use Southeast Tennessee

HFF Arranges Refinancing for Mixed-Use Medical Center in Nashville

by John Nelson May 1, 2015

NASHVILLE, TENN. — HFF has arranged refinancing for One Hundred Oaks, an 891,470-square-foot mixed-use retail and medical office center in south Nashville. Redeveloped in 2010, the property is located off I-65 within five miles of Vanderbilt Hospital and Vanderbilt University. Vanderbilt University Medical Center fully occupies One Hundred Oaks’ medical office space, which comprises more than 50 percent of the property’s overall square footage. The retail portion is 99 percent leased to Regal Cinemas, Burlington Coat Factory, Ross Dress for Less, T.J. Maxx, PetSmart, Michael’s, Electronic Express, Guitar Center, Ulta Beauty, Kirkland’s Home, Sketchers, Logan’s Roadhouse, Panera Bread and Panda Express. John Rose, Campbell Roche and Gay Thomas of HFF arranged the fixed-rate loan through Northwestern Mutual on behalf of the borrower, LaSalle Investment Management.

May 1, 2015

Georgia Healthcare Southeast

SG Property Services Buys Medical Office Portfolio in Metro Atlanta for $11.8M

by John Nelson April 27, 2015

ATLANTA — Atlanta-based SG Property Services has acquired a portfolio of three Class A medical office buildings in metro Atlanta for $11.8 million. Totaling 60,000 square feet, the properties include Johns Creek Medical Building in Johns Creek, Marble Mill Medical Center in Marietta and Hospital Way in Stockbridge. The facilities are more than 95 percent leased and are located immediately adjacent to hospital anchors.

April 27, 2015

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