Healthcare

CBRE Brokers Sale of 99,059 SF Medical Campus in Suburban Philadelphia

by Amy Works April 24, 2015

PAOLI, PA. — CBRE has brokered the sale of Paoli Medical Plaza, a medical campus located adjacent to Paoli Hospital in Paoli. Griffin-American Healthcare REIT III Inc., through its sponsor American Healthcare Investors LLC, has acquired the three-building 99,059-square-foot property from Paoli Office Park Partners, a partnership affiliated with Blank Aschkenasy Properties, for an undisclosed price. Current tenants include Paoli Hematology/Oncology, Philadelphia Hand Center, Main Line Health, Premier Orthopedics, Aligned Medical Group, Urology Health Specialists, Women’s Health Care Group of PA and LabCorp. Steve Marzullo, Justin Marlowe, Chris Bodnar and Lee Asher of CBRE represented the seller in the transaction.

April 24, 2015

Healthcare Illinois Midwest

Reed Construction Breaks Ground on Riverside Medical Center

by Danielle Everson April 20, 2015

FRANKFORT, ILL. — Reed Construction has broken ground on the Riverside Medical Center, a 20,755-square-foot medical office building for Riverside Healthcare in Frankfort. The project site is located on a 25-acre plot at the corner of U.S. Highway 45 and Steger Road. Reed will build a single-story, masonry medical office facility that will include exam rooms, CT imaging, EKG facilities and infusion bays for Riverside Healthcare. In addition, Reed will complete over 20 acres of site improvements and infrastructure for future development on the property. Project leaders participated in a groundbreaking ceremony at the site on April 15. Proteus Group will provide architectural services for the project, which is set for completion this fall.

April 20, 2015

Healthcare North Carolina Southeast

The Sanders Trust Buys Medical Office Building in Asheville for $11.6M

by John Nelson April 20, 2015

ASHEVILLE, N.C. — The Sanders Trust (TST) has purchased a 24,000-square-foot medical office building located at 20 Medical Park Drive in Asheville for $11.6 million. Originally built in 2005, the property was fully leased at the time of sale. TST purchased the asset in a joint venture with its capital partner Harrison Street Real Estate Capital LLC. An affiliate of 21st Century Oncology is the primary tenant at 20 Medical Park Drive.

April 20, 2015

Healthcare Michigan Midwest

Medpost Urgent Care Signs Lease for Third Michigan Location

by Danielle Everson April 15, 2015

LIVONIA, MICH. – MedPost Urgent Care will open its third Michigan location in July. The company will occupy a 7,500-square-foot space within the Livonia Crossroads Shopping Center located at the southeast corner of Middlebelt and Plymouth Roads. Tjader Gerdom and Larry Siedell of Gerdom Realty represented the landlord. MedPost operates two other Michigan locations in Southfield and Bloomfield.

April 15, 2015

Healthcare Illinois Midwest

I.M. Construction Group to Complete Renovation for Illinois Bone & Joint Institute

by Danielle Everson April 14, 2015

LIBERTYVILLE, ILL. — I.M. Construction Group (IMCG) will renovate a new space for the Illinois Bone & Joint Institute (IBJI) located at 724 Florsheim Drive in Libertyville. A provider of orthopedic care, the firm currently operates a branch at 720 Florsheim Drive and has purchased an adjacent building to accommodate its operational needs. Construction on the 75,000-square-foot, single-story, masonry building will begin in April with completion scheduled for July 2015. Construction will include the demolition of the existing interior and the build-out of new medical office space. Once complete, IBJI will relocate its physical and occupational therapy space to the new building, which will also include additional exam rooms. Bob Nomellini, president of IMCG, will lead the firm’s construction team. In addition, Kent Nepras will serve as project manager and Angelo Christopher will serve as the superintendent. Brubaker Architects is providing architectural services. IMCG is an affiliate of The Missner Group.

April 14, 2015

Healthcare Illinois Midwest

Holladay Properties Arranges Medical Office Lease at Oak Brook Terrace Medical Center

by Danielle Everson April 14, 2015

OAK BROOK TERRACE, ILL. — Holladay Properties has arranged a medical office lease with Loyola University Medical Center at the Oak Brook Terrace Medical Center located at 1S224 Summit Ave. in Oak Brook Terrace. Nashville-based HCP Inc. owns the 92,000-square-foot, two-building medical campus. Loyola is expanding its presence on the campus through the addition of a conference center. Once completed, Loyola University Medical Center will occupy nearly 55,000 square feet at the Oakbrook Terrace Medical Center campus. Holladay Properties will provide construction management services for the project, which is set to be complete in July. Jeffrey Fischer of NAI Hiffman represented Loyola in the lease transaction. Michael O’Connor of Holladay Properties represented HCP.

April 14, 2015

Healthcare Massachusetts Northeast Office

Savills Studley Negotiates 50,500 SF Office Lease in Peabody, Mass.

by Amy Works March 30, 2015

PEABODY, MASS. — Barton Associates has signed a lease for 50,500 square feet of medical office space at 300 Jubilee Dr. in Peabody. The firm plans to relocate its headquarters to the new space in April. With the relocation, the medical practice is doubling its existing office space at 10 Dearborn Road. Demetri Koutrouvelis and Nicole Miller of Savills Studley represented Barton Associates in the transaction.

March 30, 2015

Healthcare Indiana Midwest

Holladay Properties Arranges 16,280 SF Lease of Medical Office building in Dyer, Ind.

by Danielle Everson March 9, 2015

DYER, IND. — Holladay Properties has arranged a 16,280-square-foot lease of a medical office building in Dyer. Franciscan Alliance will occupy space within the Medical Pavilion South building located on the campus of Franciscan Saint Margaret Hospital. Holladay Properties provides leasing and property management services for Medical Pavilion South, a 63,486-square-foot, three-story medical office building. The Franciscan Alliance will open the Program of All-inclusive Care for the Elderly (PACE) Senior Health and Wellness facility on the third floor of the building. The facility provides primary care, diagnostics, physical therapy, occupational therapy, dietician, social worker, CNA, home health support, recreational services as well as access to specialists in cardiology, ophthalmology, dermatology, orthopaedics and geriatrics. The Franciscan Alliance currently operates a similar Senior Health and Wellness Center in Indianapolis. Michael O’Connor of Holladay Properties represented the building owner in the transaction. Holladay Properties also provides property management services for the project.

March 9, 2015

Healthcare Illinois Midwest

Reed Construction to Build 20,000 SF Riverside Medical Center in Frankfort, Ill.

by Danielle Everson March 5, 2015

FRANKFORT, ILL. — Reed Construction will build Riverside Medical Center, a new 20,000-square-foot medical office building for Riverside Healthcare in Frankfort. The property will be located on a 25-acre site at the corner of US 45 and Steger Road. The single-story masonry medical office facility will feature metal panels and a curtain wall glazing system. The medical space will include exam rooms, CT imaging, EKG facilities and infusion bays for Riverside Healthcare, a healthcare system serving the needs of patients throughout the counties of Kankakee, Iroquois, Will and Grundy. Reed Construction will also complete more than 20 acres of site improvements and infrastructure for future development on the property. Scott Pickands and Cy Rangel are the project executives overseeing the project on behalf of Reed Construction. Jack Sbertoli of Reed Construction is leading the project team, which is scheduled to begin construction in April with completion slated for end of the year. Proteus Group is providing the architectural services.

March 5, 2015

Healthcare Texas

CBRE Negotiates Medical Village Sale in Austin

by Haisten Willis March 5, 2015

AUSTIN — CBRE has negotiated the sale of Southwest Medical Village, a Class A medical outpatient facility in Austin. Denver-based EverWest Real Estate Partners LLC worked with the buyer to purchase the asset for an undisclosed price. Gary Carr, Eric Mackey, John Alvarado and Robert Hill of CBRE’s Dallas office represented the seller, Harrod Healthcare Development. The fully leased asset has approximately 70,000 square feet of medical office space and offers above-code parking. The property is located at 5625 Eiger Road. Premier Family Physicians, a family medicine practice, anchors the property, which includes 18 other specialty practices.

March 5, 2015

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