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.
Healthcare
GLENDALE, ARIZ. — Regent Properties has completed the disposition of Talavi Corporate Center, a three-story office and medical property in Glendale, to Texas-based Woodside for $9.3 million in an all-cash transaction. Situated on 11.4 acres at 5651 W. Talavi Blvd., Talavi Corporate Center offers 153,332 square feet of office and medical space. At the time of sale, the asset was 74 percent leased to five tenants. The center was built in 2002. Woodside plans to upgrade specific suites to speculative condition and enhance other areas of the property to attract new tenants and bring the property to greater stabilization. This transaction is Woodside’s first acquisition in Arizona. Barry Gabel, Chris Marchildon and CJ Osbrink of Newmark represented the seller in the deal.
KERRVILLE, TEXAS — Transwestern Real Estate Services (TRS) has negotiated the sale of a four-building, 15,547-square-foot medical office complex in Kerrville, about 65 miles northwest of San Antonio. The property was built in 2003 and was fully occupied at the time of sale. Russell Noll and Kelly Ralston of TRS represented the seller, HCD Property Group, in the transaction. Donald Kuyrkendall of Kuyrkendall & Co. Inc. represented the buyer, an undisclosed family trust.
JACKSON TOWNSHIP, N.J. — New Jersey-based investment firm Horizon Equities has purchased Jackson Health Village, a 150,000-square-foot medical office building in New Jersey’s Ocean County, for $24 million. The three-story building was built on 11.3 acres in 2014 and was 64 percent occupied at the time of sale. Jeremy Neuer, Jose Cruz, Dan Loughlin, Tom Stanton and Matt Loughlin of JLL represented the undisclosed seller in the transaction and procured Horizon Equities as the buyer.
Vanbarton Group, Tramview Capital Acquire Three-Property Medical Office Portfolio in Tucson, Arizona
by Amy Works
TUCSON, ARIZ. — A joint venture between Vanbarton Group and Tramview Capital Management has purchased a three-property medical office portfolio, totaling 57,600 square feet, in Tucson. Terms of the transaction were not released. The portfolio was acquired through a sale-leaseback transaction with Banner Health, which will continue to lease and occupy each building.
ViaWest Group Sells 252,350 SF Blackhawk Corporate Center in Phoenix to Big Sky Medical Real Estate
by Amy Works
PHOENIX — ViaWest Group has completed the disposition of Blackhawk Corporate Center, a three-building office and medical campus in Phoenix’s Deer Valley submarket. Big Sky Medical Real Estate acquired the asset for an undisclosed price. Built in 1997 and 1998, the 252,350-square-foot campus was 96 percent leased at the time of sale to a variety of office and medical users. Blackhawk Corporate Center is located at 20401 N. 29th Ave. and 2902 and 3010 W. Agua Fria Way, with immediate freeway visibility and accessibility from Interstate 17 and Loop 101 and a parking ratio of 5.33/1,000. Steve Lindley, Alexandra Loye, Eric Wichterman and Mike Coover with Cushman & Wakefield represented the seller in the deal.
GREENWOOD, IND. — JLL Capital Markets has arranged the sale of the Medical Behavioral Hospital of Indianapolis for an undisclosed price. The 64-bed, 42,609-square-foot inpatient behavioral facility is located in the Indianapolis suburb of Greenwood. Constructed in 2022, the property offers general acute care psychiatric services. It serves as the second location in Indianapolis NeuroPsychiatric Hospitals, a provider of inpatient behavioral health services with seven hospitals. There are 19 years remaining on the lease for the Greenwood facility. Mindy Berman, Brannan Knott and Vasili Davos of JLL represented the seller, Medistar, and arranged acquisition financing on behalf of the undisclosed buyer.
KANSAS CITY, MO. — Block & Co. Inc. Realtors has sold 2 E. 59th St. in Kansas City for an undisclosed price. Riley ABA & Autism Center purchased the 17,381-square-foot building with plans to occupy it. The building is set to undergo extensive renovations in the coming weeks. Riley ABA is planning for several new and interactive play areas, including a 1,000-square-foot play town to target play and social skills, a larger interior sensory gym for gross and fine motor development, and an outdoor, fenced-in playground. The facility will also feature ample parking, an employee break room with an outdoor patio, a large prep kitchen and several individual bathrooms. Riley ABA expects renovations to be completed by mid-summer 2024. David Block, Max Kosoglad and Carson St. Clair represented Block on an internal basis.
WEST PALM BEACH, FLA. — Colliers has brokered the $8.3 million sale of West Palm Medical Plaza, a medical office building located at 4700 N. Congress Ave. in West Palm Beach. The property is situated within walking distance of the HCA Florida JFK North Hospital. Mark Rubin, Bastian Schauer, Jake Stauber and Jared Mann of Colliers represented the seller, Triple Double Real Estate, in the transaction. The buyer, Orbvest, was not represented by a broker. The asset was fully leased at the time of sale.
WALL TOWNSHIP, N.J. — California-based design-build firm Ware Malcomb has completed a 30,000-square-foot healthcare project in Wall Township, located in coastal New Jersey. The project is a build-to-suit for The Arc of Monmouth, a nonprofit organization that serves individuals with intellectual or developmental disabilities. The facility features several specialty rooms for learning opportunities, including sensory rooms, quiet rooms, computer rooms, as well as a gym and three fully equipped kitchens.