LONG BEACH, CALIF. — Molina Healthcare has executed a $158-million sale/leaseback that encompasses the firm’s Long Beach corporate office complex and an office building in Columbus, Ohio.The Long Beach property features two conjoined 14-story office towers that total 500,000 square feet. Molina purchased the property in 2011. It houses the company's corporate headquarters, as well as Molina Healthcare of California, its California health plan subsidiary. The Columbus property contains a 160,000-square-foot office building that was acquired in December 2012. It serves as the principal health plan operations for its Molina Healthcare of Ohio subsidiary.Molina was represented by McKinney Advisory Group. Angelo Gordon & Co., AGNL Clinic, L.P. worked alongside McKinney.Western Reserve Partners LLC served as Molina’s co-advisor and placement agent.
SETAUKET, N.Y. — Capital Advisors has arranged $4.7 million in refinancing for 33 Research Way, a 37,297-square-foot medical office building located in Setauket, about 15 miles east of Queens. Stony Brook University Hospital fully occupies the property. Cooper Willis of Capital Advisors’ Charlotte, N.C. office secured the 25-year, nonrecourse loan, which includes a 25-year amortization schedule, for Algil Holding Co. LLC. StanCorp Mortgage Investors LLC provided the financing.
LONG BEACH, CALIF. — Molina Healthcare has executed a $158-million sale/leaseback that encompasses the firm’s Long Beach corporate office complex and an office building in Columbus, Ohio. The Long Beach property features two conjoined 14-story office towers that total 500,000 square feet. Molina purchased the property in 2011. It houses the company's corporate headquarters, as well as Molina Healthcare of California, its California health plan subsidiary. The Columbus property contains a 160,000-square-foot office building that was acquired in December 2012. It serves as the principal health plan operations for its Molina Healthcare of Ohio subsidiary. Molina was represented by McKinney Advisory Group. Angelo Gordon & Co., AGNL Clinic, L.P. worked alongside McKinney.Western Reserve Partners LLC served as Molina’s co-advisor and placement agent.
FRANKLIN, TENN. — Skanska USA has signed a contract to complete a $51 million expansion and renovation of Williamson Medical Center in Franklin. The project will include an approximately 33,000-square-foot expansion and approximately 10,500 square feet in renovations. It will commence in October and is scheduled for completion in November 2015.
JACKSON, OHIO — Marcus & Millichap has arranged the sale of Adena Health Center, a 24,988-square-foot, net-leased medical office property in Jackson, about 80 miles south of Columbus, for $5.4 million. Scott Niedergang, Christopher Mitchel and Gino Lollio of Marcus & Millichap’s Healthcare Real Estate Group marketed the property on behalf of the seller, a private investor, and the buyer, a REIT. Constructed in 2003, the two-story building is located at 1000 Veterans Drive and is fully occupied by Adena Health System.
ENGLEWOOD, N.J. — The Hampshire Cos. has sold two medical office buildings in Englewood, located about 15 miles north of Newark, to JZ Property LLC. The purchase price was undisclosed. The buildings total 32,081 square feet and are located at 200 and 214 Engle St., near Englewood Hospital and Medical Center, a 547-bed teaching hospital. Cheryl Bozzelli and Michael Walters of NAI James E. Hanson represented The Hampshire Cos. in the transaction. Adam Plawker of Plawker Commercial Real Estate represented the buyer. Plawker Commercial Real Estate will serve as the leasing agent of the property.
FAYETTEVILLE, ARK. — Carter Validus Mission Critial REIT has acquires Physicians Specialty Hospital in Fayetteville for $22.6 million The short-term, acute care surgical hospital totals 55,740 square feet. It contains 20 beds along with four operating rooms, one procedure room, an emergency department, an in-house diagnostic lab and a radiology department. The property was most recently renovated in 2009, when it was converted into a surgical hospital. The seller’s name was not released.
HOUSTON — Denver-based Fairfield Advisors has brokered the $13.3 million sale of the Memorial Herman Convenient Care Medical Office Building in Houston. The 30,000-square-foot medical office building is located at 14201 E. Sam Houston Parkway N. Memorial Herman, the largest not-for-profit health system in Texas, is the sole occupant of the property, which is an outpatient facility that includes a 24-hour emergency room. Greg Trainor of Fairfield Advisors represented the seller in the all-cash transaction.
TEMPLE AND WACO, TEXAS — Construction is underway on two Duke Realty-developed, Scott & White Healthcare medical facilities in Temple and Waco. The first property, a 77,000-square-foot, three-story outpatient orthopedic clinic, is located at 2401 S. 31st St. in Temple. The second property, a 37,000-square-foot, two-story cancer center, is located next to Hillcrest Baptist Medical Center at Interstate 35 and Hillcrest Medical drive in Waco. Both the Temple and Waco facilities are owned by Duke Realty Limited Partnership. Scott & White will manage the facilities. Jacobs Engineering Group Inc. will be the architect and MEDCO Construction will act as general contractor for the orthopedic clinic. HDR will be the architect and JE Dunn will act as general contractor for the cancer center. The orthopedic center will be completed in October and the cancer center in November.
PURCHASE, N.Y. — WestMed Medical Group has signed a long-term lease to occupy an 85,000-square-foot medical office building in Purchase, located about 30 miles north of New York City. Simone Healthcare Development and Fareri Associates is currently constructing the four-story property, which is situated within the Harrison Executive Medical Park at 3030 Westchester Ave.