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26711-Aliso-Creek-Rd-Aliso-Viejo-CA
AcquisitionsCaliforniaHealthcareRetailWestern

Hanley Investment Arranges Sale of 24,986 SF Retail, Medical Building in Aliso Viejo, California

by Amy Works

ALISO VIEJO, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a two-story retail and medical building at 26711 Aliso Creek Road in Aliso Viejo. A San Francisco-based private investor sold the asset to an Irvine, Calif.-based private investor for $9.4 million. Both parties requested anonymity. Buffalo Wild Wings Grill & Bar, Active Med Supply, Cold Stone Creamery, F45 Training, Kidcreate Studio and three dental offices are tenants at the 24,986-square-foot building, which was built on two acres in 2004. The building is situated within Aliso Viejo Town Center, a 380,000-square-foot development. Sean Cox and Kevin Fryman of Hanley Investment Group represented the seller, while Alton Burgess of Voit Real Estate Services represented the buyer in the deal.

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AcquisitionsHealthcareIllinoisMidwestMultifamily

Colliers Arranges $7.4M Sale of Apartment, Medical Office Building in Suburban Chicago

by Kristin Harlow

HIGHLAND PARK, ILL. — Colliers has arranged the $7.4 million sale of a 55,033-square-foot commercial building in the Chicago suburb of Highland Park. Located at 1770 1st St., the property features 17 apartment units on the upper three floors and 36,000 square feet of medical office space home to Robb Orthodontics, Highland Park Maxillofacial & Implant Surgery and Pediatric Dentistry of the North Shore. The apartment units are fully leased, and the medical office portion is 61 percent leased. Constructed in 1988, the building sits atop a 447-space public parking garage and is across the street from the Highland Park Metra stop. Alissa Adler, John Homsher, Tyler Hague and Lauren Stoliar of Colliers represented the seller, Fulton Design + Build. QMR Partners was the buyer.

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DevelopmentHealthcareIllinoisMidwest

Joint Venture to Convert 43,000 SF Former Fitness Facility in Suburban Chicago into Cardiovascular Center

by Kristin Harlow

NAPERVILLE, ILL. — A joint venture between Capital Healthcare Properties and HSG Medical has entered the permitting phase of a project to create a specialized cardiovascular center in the Chicago suburb of Naperville. The outpatient ambulatory surgery treatment center (ASTC) will be built for a Chicago-area healthcare system. The ASTC will transform a former 43,000-square-foot fitness facility at 1836 Freedom Drive. The joint venture has been coordinating with consultants, the health system and the city for over a year. The original design and use of the building as a fitness center, including 25-foot ceiling heights and minimal columns, promotes an efficient and flexible floor plan to maximize the space for a complex healthcare build-out, according to the development team. The building, constructed in 2008, sits on a five-acre lot and offers more than 200 parking spaces. Construction is set to commence this quarter, with the first patients expected to be seen in the new facility in 2026. The project team includes architects Antunovich Associates and HDR, civil engineer V3 Cos., mechanical, electrical and plumbing engineer IMEG, landscape architect Hitchcock Design Group and general contractor Boldt. Brett Berlin of Quantum Real Estate Advisors Inc. brokered the $7.5 million sale of the …

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DevelopmentHealthcareIndianaIndustrialLife SciencesMidwestTop Stories

Eli Lilly to Build $4.5B Center for Advanced Manufacturing, Drug Development in Lebanon, Indiana

by Kristin Harlow

LEBANON, IND. — Eli Lilly and Co. (NYSE: LLY) has unveiled plans to invest $4.5 billion to create the Lilly Medicine Foundry, a new center for advanced manufacturing and drug development in Lebanon, about 27 miles northwest of Indianapolis. The Medicine Foundry, slated to open in late 2027, will be located in Indiana’s LEAP Research and Innovation District. The project brings Lilly’s total investment in the area to more than $13 billion. Earlier this year, Lilly released plans for a $5.3 billion expansion of its pharmaceutical manufacturing facility in Lebanon. “As we accelerate our work to discover new medicines for the toughest diseases, we’re continuing to invest in state-of-the-art infrastructure to support our growing pipeline,” says David Ricks, Lilly’s chair and CEO. “In addition to supplying high-quality medicine for our clinical studies, this new complex will further strengthen our process development and scale up our manufacturing capabilities to speed delivery of next-generation medicines to patients around the world.” Lilly says the flexible design of the new facility will enable production of various molecular therapies, including drug substances for small molecules, biologics and nucleic acid therapies. New technologies developed at the Medicine Foundry will be transferred to Lilly’s other manufacturing sites …

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HealthcareLeasing ActivityNew YorkNortheast

NewYork-Presbyterian Signs 10,189 SF Healthcare Lease in The Bronx

by Taylor Williams

NEW YORK CITY — Healthcare provider NewYork-Presbyterian has signed a 10,189-square-foot lease in The Bronx. The space is located within the 60,000-square-foot building at 2510 Westchester Ave., which is also home to practitioners in specialty fields such as orthopedics and sports medicine, behavioral health and acupuncture. Both the tenant and the landlord, Simone Development, were self-represented in the lease negotiations.

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DevelopmentHealthcareMidwestOhio

Catalyst, Heitman Begin Development of 51,000 SF Inpatient Rehabilitation Hospital in South Point, Ohio

by Kristin Harlow

SOUTH POINT, OHIO — Catalyst Healthcare Real Estate and Heitman have broken ground on a new 51,000-square-foot inpatient rehabilitation hospital in South Point along the Ohio River. The project marks the ninth hospital Catalyst has delivered for PAM Health, and the second in Ohio. The 42-bed facility will be fully leased and operated by PAM Health. The hospital will provide inpatient and outpatient physical, occupational and speech therapy services.

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DevelopmentGeorgiaHealthcareSoutheastTop Stories

Children’s Healthcare of Atlanta to Open 2 MSF Children’s Hospital in Brookhaven

by John Nelson

BROOKHAVEN, GA. — On Sunday, Children’s Healthcare of Atlanta (CHOA) is set to open Arthur M. Blank Hospital, a 2 million-square-foot children’s hospital located in the northeastern Atlanta suburb of Brookhaven. The Atlanta Journal-Constitution reports that development costs for the facility, which is situated at the heart of CHOA’s new North Druid Hills campus, totaled approximately $1.5 billion. Arthur M. Blank Hospital rises 19 stories on a 70-acre site at the corner of I-85 and North Druid Hills Road. The new facility offers 446 patient beds, a 70,000 square-foot emergency department with 69 emergency exam rooms and a level one pediatric trauma center — the only dedicated one in Georgia, according to CHOA. The new hospital is named after Arthur Blank, one of the founders of The Home Depot and the current owner of the Atlanta Falcons and Atlanta United professional sports teams. The Arthur M. Blank Family Foundation made a $200 million donation to help fund the cost of the new hospital. The property also offers amenities for patients and their families, such as lounges, libraries, child life activity rooms, a business center and laundry facilities and kitchenettes on every floor. The building cafeteria, dubbed The Eatery, will provide patient …

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AcquisitionsDevelopmentHealthcareNorth CarolinaOfficeSoutheastUncategorized

Flagship Acquires Former Verizon Office Building in Wilmington, Plans Conversion to Healthcare Campus

by John Nelson

WILMINGTON, N.C. — Flagship Healthcare Properties has purchased a 153,526-square-foot office building located at 3601 Converse Road in Wilmington. The Charlotte-based company acquired the property through Flagship Healthcare Trust for an undisclosed price. The seller was also not disclosed. The three-story office building was built as a single-tenant property and was formerly home to Verizon Wireless. Flagship is underway on the conversion of the office building into an outpatient healthcare campus dubbed Flagship Medical Plaza. Novant Health has signed a lease to occupy two floors at the project beginning in 2025. The tenant’s planned services at the clinic will include specialized physicians, lab services, imaging and infusion therapy, according to Ernie Bovio, president of Novant’s coastal region. Novant operates the Novant Health New Hanover Regional Medical Center hospital, which is located two miles from Flagship Medical Plaza.

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DevelopmentHealthcareMichiganMidwestTop Stories

Henry Ford Health Breaks Ground on $2.2B Hospital Expansion Project in Detroit

by John Nelson

DETROIT — Henry Ford Health has broken ground on a 1.2 million square-foot expansion to Henry Ford Hospital, an 877-bed tertiary care hospital in the New Center residential district of Detroit. The $2.2 billion development will be anchored by a new hospital facility situated directly across the street from the legacy campus, which will remain in operation. The new facility will include a 20-story patient tower that will offer 432 individual patient rooms and 28 new operating rooms. Each room will feature touch-screen TVs and voice activation technology for both patients and care teams, as well as dedicated space for visitors. Five floors of the patient tower will be dedicated to specialized ICU rooms, which will provide cardiovascular, neurological and other forms of care. Shirley Ryan AbilityLab, a physical medicine and rehabilitation research hospital formerly known as Rehabilitation Institute of Chicago, has partnered with Henry Ford Health and will occupy three of the top floors of the patient tower. The partnership was made possible through a $130 million investment by the Gilbert Family Foundation, according to Henry Ford Health. The Gilbert Family Foundation, a Detroit-based private nonprofit foundation founded by Dan and Jennifer Gilbert, also created a $10 million fund to support …

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6200-Northwest-Parkway-San-Antonio
AcquisitionsHealthcareOfficeTexas

University Health Acquires 142,500 SF Office Building in Northwest San Antonio

by Taylor Williams

SAN ANTONIO — University Health has acquired a 142,500-square-foot office building in northwest San Antonio. According to LoopNet Inc., the property at 6200 Northwest Parkway was built in 2000 and includes 963 parking spaces. Russell Noll and Kelly Ralston of Transwestern represented the seller, Sentinel Net Lease LLC, in the transaction. Chad Gunter, also with Transwestern, represented University Health, which plans to utilize the property to expands its administrative and back-office operations. The healthcare provider operates two teaching hospitals and multiple outpatient clinics in the San Antonio area.

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