Healthcare

RALEIGH, N.C. — Highwoods Properties Inc. has sold Rexwoods, a medical office campus in west Raleigh spanning 380,000 square feet. The eight-building park is located across from University of North Carolina REX Hospital. Highwoods sold the campus to two separate buyers, one of which acquired seven buildings with plans to continue to operate them as clinics while the other buyer bought a building with plans to redevelop the asset. The buyers and sales price were not disclosed. The seven properties were built or acquired by Highwoods between 1982 and 1998, and three of them were recently renovated. Mindy Berman, Ryan Clutter, Daniel Flynn, Teddy Hobbs, Woody Flythe and Landon Weaver of JLL represented Highwoods and procured the buyers in the two transactions. Anthony Sardo and Ward Smith of JLL arranged acquisition financing for one of the buyers.

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ELK CITY AND ENID, OKLA. — Marcus & Millichap has arranged the sale of two retail properties that are net leased to urgent care clinics in Oklahoma for a combined price of $4.7 million. The facilities, both of which are operated by Xpress Wellness, are located in Elk City and Enid, about 100 miles west and north of Oklahoma City, respectively. Dominic Sulo and Benjamin Bach of Marcus & Millichap represented the seller and procured the buyer, both of which were undisclosed limited liability companies, in the transactions.

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SARASOTA, FLA. — BayCare Health System plans to break ground on a new $548 million hospital in Sarasota, a city in west-central Florida’s Manatee County. Named BayCare Hospital Manatee, the hospital will feature 154 beds in private patient rooms and include a 45,000-square-foot medical arts building. The property will sit one mile north of the I-75 and I-275 interchange along Moccasin Wallow Road and offer services including general, orthopedic and specialty surgery; urology, gastroenterology, cardiology, diagnostic and interventional imaging; emergency care; obstetrics; and neonatology. Gresham Smith designed BayCare Hospital Manatee, including the hospital’s potential expansion to 207 beds. BayCare Health plans to break on the hospital, the health system’s 17th, in October, with anticipated delivery in 2027.

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LYNCHBURG, VA. — A partnership between Remedy Medical Properties and Kayne Anderson Real Estate has broken ground on Centra Langhorne Medical Center, a new 130,000-square-foot medical office building located at 2125 Langhorne Road in Lynchburg. The facility will be located near Centra Lynchburg General Hospital, which is about 70 miles southwest of Charlottesville, Va. The medical office building will be fully leased to Centra Health upon completion, which is slated for late 2025. The design-build team includes Haskell Architecture and Engineering Inc., civil engineer Hurt & Proffitt Inc., structural engineer O’Donnell & Naccarato Inc. and general contractor Robins and Morton.

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WADENA, MINN. — Ziegler has provided a bond issue totaling $20.5 million for the Wadena Cancer Center in Wadena, a city in central Minnesota. The Wadena Cancer Center is jointly operated by Astera Health CentraCare Health and is located on Astera Health’s main campus. In collaboration with CentraCare Health System, Astera Health has entered into a joint venture to establish the Central Minnesota Cancer Center LLC. This initiative aims to address the critical need for comprehensive oncology services in the region. The proceeds of the bond issue will be used to finance the construction and equipping of the 15,350-square-foot cancer center, which will include six clinic exam rooms and eight infusion bays. The facility will provide a full spectrum of cancer care services, including medical and radiation oncology visits, chemotherapy, infusion, radiation treatments and diagnostic imaging. Ziegler utilized a unique financing structure to fund the project through its relationship with a nonprofit entity, National Healthcare, Research and Education Finance Corp. (NHREFCO). NHREFCO works to support the charitable and educational purposes of hospitals, academic medical centers and medical research organizations by acting as the borrower for bond transaction and lessor to the tenant through a long-term assumable lease.

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LYNBROOK, N.Y. — Northwell Health, the state’s largest provider, has signed a 23,021-square-foot, full-building renewal on Long Island. Locally based firm Simone Development Cos. owns the three-story building at 733 Sunrise Highway in Lynbrook. The facility is home to physicians specializing in fields such as family medicine, cardiology, endocrinology, gastroenterology, pulmonology, urology and rheumatology. No third-party brokers were involved in the lease negotiations.

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PURCHASE, N.Y. — Release Recovery, which provides counseling and treatment for substance abuse and mental health disorders, has opened a 7,698-square-foot outpatient healthcare clinic in Purchase, about 30 miles north of Manhattan. The space at 3020 Westchester Ave. is located within the 220,000-square-foot Purchase Professional Park and houses multiple treatment spaces and a yoga room. Simone Development Cos. owns Purchase Professional Park and was represented in the lease negotiations by in-house agent Sean Heneghan and Matthew Lisk of Cushman & Wakefield.

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EAST SETAUKET, N.Y. — Stony Brook University Hospital has signed a 16,000-square-foot lease on Long Island. The regional provider now occupies an entire 25,000-square-foot building within the 103-acre Stony Brook Technology Center campus in East Setauket. David Leviton from JLL represented the tenant in the lease negotiations. Maria Valanzano and Steven D’Orazio of Colliers represented the landlord, TRITEC Real Estate Co.

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CORDELE, GA. — Hoar Construction has broken ground on the expansion and renovation of Crisp Regional Hospital in Cordele, about 66 miles south of Macon via I-75. Completion of the $18.3 million project is scheduled for August 2025. Plans include the addition of 15,000 square feet across two stories, including 7,500 square feet of operating suite space. Renovations will also include updates to the hospital’s existing administration, post-operation and entrance and waiting room spaces. The project team includes architect CDH Partners, program manager Impact Development Management, structural engineer Walter P. Moore, civil engineer Columbia Engineering and MEP engineer NBP Engineers.

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FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of a 5,912-square-foot medical and retail center in North Fort Worth. The building, which was constructed in 2022, is home to tenants such as Heyday Family Dental, Core Wellness Studio and Texas Family Vision Center. Gus Lagos and Alex Wolansky of Marcus & Millichap represented the seller in the transaction. Marty McAdams of McAdams & Associates represented the buyer.

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