HOUSTON — Houston Methodist has signed a 75,800-square-foot lease at Texas Medical Center in Houston. The provider will occupy two floors at the Dynamic One building at TMC Helix Park for various biomedical research initiatives. The building was completed last fall and offers a fitness center, outdoor terrace and a multi-purpose lounge. Scott Carter of CBRE represented Houston Methodist in the lease negotiations. Eric Johnson, Lisa Bovermann and Kaitlyn Harp of Transwestern represented the landlord, Beacon Capital Partners, which developed the building in partnership with Zoë Life Sciences.
PEARLAND, TEXAS — Dallas-based healthcare investment firm MedProperties Realty Advisors has purchased a 44,150-square-foot medical office building that is part of the Memorial Hermann Pearland Hospital on the southern outskirts of Houston. The two-story building was completed in 2023 and was fully occupied at the time of sale. Capital One and Siemens Financial Services provided acquisition financing for the deal. The seller was not disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the $4.9 million sale of a 10,900-square-foot retail and medical office building in Brooklyn’s Sheepshead Bay neighborhood. The building at 1670 E. 17th St. has 12 suites and is zoned for up to 4,700 square feet of expansion. Jakub Nowak of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
TEMPLE TERRACE, FLA. — Cullinan Properties has opened the new Tampa VA Mental Health Center in Temple Terrace, about 10 miles northeast of Tampa. Totaling 150,000 square feet, the facility will house multiple mental health programs, including outpatient mental health consultation services, therapy, substance abuse treatment, intensive case management, post-traumatic stress disorder (PTSD) treatment and employment and peer services. Outdoor amenities at the site, which spans 20 acres, include gardens, courtyards and walking paths. Cullinan broke ground on the development in 2021. The project team also included architecture and design firm Leo A. Daly, general contractor Hoar Construction, civil engineer Prosser and property management firm Lincoln Harris CSG.
SAN ANTONIO — Davis Healthcare Real Estate, a Minneapolis-based investment and brokerage firm, has acquired the University of Texas (UT) Health & Wellness Center in northwest San Antonio for $24.3 million. The 73,390-square-foot outpatient facility was originally built in 1998 within the 900-acre South Texas Medical Center campus for the U.S. Veterans Affairs Department. The property was subsequently renovated in 2022 and is now occupied by the UT Health System. Davis acquired the property from an undisclosed seller in an off-market deal.
OCONOMOWOC, WIS. — Wangard Partners and Kraus-Anderson have completed the Veterans Affairs (VA) healthcare clinic at Olympia Fields in Oconomowoc, about 34 miles west of Milwaukee. The 9,991-square-foot clinic will be leased by the Veterans Health Administration and operated by the Clement Z. Zablocki VA Health Care System. Designed by Plunkett Raysich Architects, the $5 million facility features reception and waiting areas, conference rooms, exam rooms, primary care, women’s health services, mental health services, consultation rooms, telehealth, a staff lounge and team workrooms. Construction began in May 2023 and was completed one month ahead of schedule. Wangard is the developer of Olympia Fields, a mixed-use project that includes The Locklyn apartment community and a Sendik’s Food Market. Plans also call for a hotel, medical offices, commercial outlets and a recreational bike trail.
WOBURN, MASS. — Boston Sports & Shoulder Center will open a 6,100-square-foot clinic in Woburn, located on the northern outskirts of the state capital. The clinic, which is slated to open this spring, will be the provider’s fifth in Massachusetts. Mary Burnieika and John Boyle of Cushman & Wakefield, in conjunction with internal agents Steve Cusano and John Halsey, represented the landlord, Cummings Properties, in the lease negotiations. The tenant representative was not disclosed.
HUDSON, WIS. — Transwestern Real Estate Services has brokered the $72 million sale of Hudson Medical Center in Hudson, about 18 miles east of St. Paul. Completed in 2023, the 160,000-square-foot building serves as a multi-specialty medical office building and ambulatory surgery center. Frank Richie, Mike Salmen, Erik Coglianese and John Huff of Transwestern represented the seller, Hudson Medical LLC, which developed the facility. Hammes Partners, a private investment platform focused exclusively on healthcare real estate, was the buyer. The property’s tenant mix includes primary care, imaging, orthopedics, ophthalmology, oncology and dermatology.
WELLINGTON, FLA. — Rendina Healthcare Real Estate and joint venture partner Artemis Real Estate Partners have purchased Wellington Medical Arts Pavilion III, a 48,000-square-foot medical office building in Palm Beach County. The four-story property is situated on the Wellington Regional Medical Center campus, a Universal Health Services (UHS) hospital. The undisclosed seller sold the asset for $18.3 million. The property was 91 percent leased at the time of sale to tenants including UHS, Sanitas Medical Center, Gastro Associates of Florida, Conviva Care Centers and Physician Partners of America. Rendina Healthcare was the original developer of Wellington Medical Arts Pavilion III in 2006.
IRVINE, CALIF. — Hoag, a nonprofit healthcare delivery network in Orange County, is developing a $1 billion expansion at its Sun Family Campus medical facilities in Irvine. The new campus will include specialty care institutes for surgical innovation, cancer and digestive and women’s health, as well as dedicated urgent care services for cancer patients. The six new buildings will house 155 inpatient beds, eight operating rooms, 24 ICU beds and 120,000 square feet of ambulatory facilities. The campus will also feature outdoor spaces for therapies and meditation, including numerous healing gardens programmed to create unique and meaningful experiences for patients and caregivers. Last September, Hoag broke ground on the first phase of the project, which is named in recognition of the support of Diana and David Sun, who donated $50 million toward the project. Construction of the first phase is underway, and Sun Family Campus is slated to open to patients in 2026. The project team includes McCarthy Building Cos., LPA Design Studios, Jacobs, HB&A, KPFF and tk1sc.