REBusinessOnline

Ridgeline Capital Partners Acquires 10 Medical Office Buildings in DFW

DALLAS — Dallas-based Ridgeline Capital Partners has acquired 10 medical office buildings totaling 99,072 square feet throughout the Dallas-Fort Worth (DFW) metroplex. The seller and sales price were not disclosed, but Ridgeline raised $5.3 million in equity for the deal from sources on Oregon-based investment platform CrowdStreet. All buildings were fully leased at the time of sale, with dialysis provider U.S. Renal Care being the sole or primary tenant at each property. CIT Group Inc. …

Acquisitions, Healthcare, Loans, Texas

Johnson Development to Build VA Outpatient Clinic in Tyler, Texas

TYLER, TEXAS — Alabama-based Johnson Development will build a VA Outpatient Clinic in Tyler, a city located about 100 miles east of Dallas. BL Harbert is the general contractor for the project, which is expected to carry a construction timeline of 16 to 22 months. Gabriel Silverstein and Louis D’Lando of SVN | Angelic structured and placed construction financing for the project, which will be developed as part of a quintet of VA Outpatient Clinics in Texas, Florida, Michigan and Missouri …

Development, Healthcare, Texas

Kraus-Anderson Completes Conversion of Former Kmart Store in Minnesota into Healthcare Space

WINONA, MINN. — Kraus-Anderson has completed the conversion of an 86,000-square-foot former Kmart store in Winona into healthcare space. The building, located at 1122 U.S. Highway 61, is now part of Gundersen Health System’s Winona campus. The building had been vacant since 2014. Set to open May 18, the primary care clinic will offer family and internal medicine, pediatrics, women’s health and imaging services. The facility will also house physical and occupational therapy as well as an …

Development, Healthcare, Midwest, Minnesota

IPA Brokers $19.3M Sale of Medical Office Building in Northern Virginia

DUMFRIES, VA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $19.3 million sale of Dumfries Health Center, a 99,718-square-foot, single-tenant medical office building in Dumfries. The property is fully leased to Spectrum Healthcare Resources. The building was delivered in 2009 at 3700 Fettler Park Drive, two miles north of downtown Dumfries and adjacent to Interstate 95. The previous owner, known as 3700 Fettler Park LLC, recently implemented …

Acquisitions, Healthcare, Office, Southeast, Virginia

Pain Management Group Buys Richley Medical Plaza in San Diego for $6M

SAN DIEGO — An Orange County, Calif.-based pain management group has purchased Richley Medical Plaza, a medical office building in San Diego’s Midway District, for $6 million. Dan Henry and Lars Eisenhauer of CBRE represented the seller, a private investor, in the deal. Located at 3434 Midway Drive, the 25,600-square-foot building was originally built in 1991. The two-story property includes a 6,475-square-foot surgery center that features three operating rooms, a recovery area, waiting …

Acquisitions, California, Healthcare, Office, Western

Colliers Brokers $2.6M Sale of Medical Office Property in Las Vegas

LAS VEGAS — Colliers International | Las Vegas has arranged the sale of a medical office space located within Smith Surgery Center at 8871 W. Sahara Ave. in Las Vegas. Mia Aesthetics LV Realty acquired the asset from Smith Building LLC for $2.6 million. The asset offers 7,569 square feet of medical office space. Stacy Shapiro and Alexia Crowley of Colliers represented the seller in the

Acquisitions, Healthcare, Nevada, Office, Western

Holt Construction, U.S. Army, FEMA Construct 100-Bed Temporary Hospital in Paramus for Non-COVID Patients

PARAMUS, N.J. — Holt Construction, the U.S. Army Corps of Engineers and the Federal Emergency Management Agency (FEMA) have constructed a 100-bed temporary hospital in Paramus, a northwestern suburb of New York City. The facility was built in a large parking lot adjacent to Bergen New Bridge Medical Center and is intended for acute, non-COVID-related patients due to the influx of COVID-positive patients to the main building. The temporary hospital consists of two tent structures, each …

Healthcare, New Jersey, Northeast

Easterly Government Properties Buys 51,647 SF VA Outpatient Facility in Chico, California

CHICO, CALIF. — Washington, D.C.-based Easterly Government Properties has purchased a Department of Veterans Affairs (VA) outpatient clinic in Chico. Terms of the transaction, including acquisition price and name of the seller, were not released. Chico is home to the largest state veteran population in the country, according to the buyer. The facility is part of the Northern California Health Care System and is a built-to-suit clinic that was completed in mid-2019. The property was …

Acquisitions, California, Civic, Healthcare, Western

Clark Construction Completes Transformation of Shuttered Chicago Hospital into Alternate Care Facility

BLUE ISLAND, ILL. — Clark Construction Group, in collaboration with the U.S. Army Corps of Engineers, has completed the transformation of the MetroSouth Medical Center, a shuttered hospital just south of Chicago, into an alternate care facility to treat COVID-19 patients. Located in Blue Island, the facility now features 585 beds, including 265 high-acuity beds for critically ill patients. Clark completed the project in 22 days. The project team also included architect Perkins and Will, …

Development, Healthcare, Illinois, Midwest

Magellan Health Signs 8,000 SF Lease at Offices Two at Frisco Station

FRISCO, TEXAS — Magellan Health, a Fortune 500 healthcare provider based in Phoenix, has signed an 8,000-square-foot lease at The Offices Two at Frisco Station on the northern outskirts of Dallas. VanTrust Real Estate developed the 210,000-square-foot speculative property, which now has more than a third of its space leased to healthcare providers. The building is 75 percent leased overall. VanTrust has begun preleasing The Offices Three at Frisco Station and expects to complete that project …

Healthcare, Leasing Activity, Office, Texas
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