SUN CITY CENTER, FLA. — Marcus & Millichap has secured the sale of South Bay Medical Arts, a 32,123-square-foot, Class A medical office property located at 4051 Upper Creek Drive in Sun City Center. The office building sold for approximately $3.8 million. Moe Derbala of Marcus & Millichap’s Tampa office represented the seller and secured the buyer, both local private investors.
SAN DIEGO — Alvarado Medical Plaza III, a 51,400-square-foot medical office building in San Diego, has sold to TDA Investment Group for an undisclosed sum. The building is located at 6719 Alvarado Road on the campus of Alvarado Hospital Medical Center. It sits adjacent to San Diego State University. The plaza is anchored by an affiliate of Alvarado Hospital that operates an outpatient surgery center. TDA was represented by Evan A. Kovac of Newmark Grubb Knight Frank. The seller, AMP III LLC, was represented by PMB Brokers, an affiliate of Pacific Medical Buildings.
PURCHASE, N.Y. — Simone Healthcare Development and Fareri Associates have broken ground on new four-story, 85,000-square-foot medical office building (MOB) in Purchase, an eastern suburb of White Plains. The MOB development is located at 3030 Westchester Ave. in the Harrison Executive Medical Park. WESTMED Medical Group, a physician-owned and managed multi-specialty group practice, will fully occupy the building beginning in January 2015. Rob Astornio, county executive of Westchester County, says the project marks the first new office construction in the county in 25 years.
NORTH CHARLESTON, S.C. — Cushman & Wakefield | Thalhimer has brokered the sale of the former corporate offices of Atlantic Occupational Health, located at 3625 W. Montague Ave. in North Charleston. Sweatwater Holdings LLC purchased the approximately 6,920-square-foot medical office property for $825,000 as an investment. Philip Owens of Cushman & Wakefield | Thalhimer represented the seller, 3625 Montague Avenue LLC, in the transaction.
VICTORIA, TEXAS — Vibra Healthcare LLC has purchased two long-term acute care hospitals, including the former Kindred Hospital Victoria approximately 110 miles southeast of San Antonio, from Kindred Healthcare for $20.7 million. The facility will now be operated by Camp Hill, Pa.-based Post Acute Medical, an affiliate of Vibra. The other hospital acquired in this transaction was located in Milwaukee. Vibra purchased 14 other Kindred Healthcare hospitals earlier this month for $168.5 million.
SIOUX CITY, IOWA — Irgens and UnityPoint Health – St. Luke’s have opened Sunnybrook Medical Plaza, an 86,315-square-foot medical center in Sioux City. The two-story glass and masonry facility will serve as a regional hub for healthcare delivery in the tri-state area, according to Irgens. Sunnybrook Medical Plaza provides expanded outpatient services and improved access to advanced medical technology. Healthcare services at the facility include family and internal medicine, urgent care, imaging, lab, infusion, cardiology, podiatry, diabetes and other specialty clinics and services. Irgens oversaw all facets of the project including site due diligence, entitlements and design/construction administration. In addition to Irgens and St. Luke’s, project team members included Eppstein Uhen and Cannon Moss Brygger & Associates as architects, along with W.A. Klinger as general contractor.
ST. LOUIS — McGrath & Associates has completed the $1.5 million expansion of the Saint Louis University Hospital emergency department in St. Louis. The 4,000-square-foot expansion project added five treatment rooms, a nurses’ station, work and storage spaces and a two-station registration area with three offices. McGrath constructed the project in two phases, the first completed while the main lobby, registration desk and escalators directly below and adjacent to the construction site continued to operate. They also relocated a main corridor to allow for the expansion. The design team included BSA LifeStructures and KJWW Consulting Engineers. The Saint Louis University Hospital emergency department treats more than 2,200 trauma patients from Missouri and southern Illinois, and more than 39,000 patients in the emergency department each year.
HARTFORD, CONN. — EagleBridge Capital has arranged $11 million in construction/permanent mortgage financing secured by a 57,753-square-foot medical office building (MOB) in Hartford. Ted Sidel and Brian Sheehan, principals at EagleBridge Capital, arranged the financing with a regional financial institution on behalf of The Keystone Cos. St. Francis Hospital Medical Center leases the five-story building on a triple-net basis. The property is located at 103 Woodland St. on a 3.9-acre site across from the main campus of St. Francis Hospital Medical Center. The MOB is undergoing a major rehabilitation, which includes the build-out of new office space, as well as upgrading the roof, electrical system and elevators.
SUGAR LAND, TEXAS — Colliers has brokered the sale of two acres at Highway 59 and University Boulevard in Sugar Land, approximately 23 miles southwest of Houston, on behalf of NNP-Telfair LLC. A partnership between Empire Commercial Developers LLC and a group of Sugar Land physicians purchased the land, which is located in the Telfair Lakefront District East Business Park. American Commercial Contractors will develop the property into a 56,000-square-foot medical office building and 79,000-square-foot parking garage. Charles Heder, Kolbe Curtice and Corbin Janssen of Colliers represented the seller in the transaction.
WETHERSFIELD, CONN. — Cronheim Mortgage has arranged $9.4 million for a medical office building (MOB) located in Wethersfield, a southern suburb of Hartford. Phoenix Medical LLC was the borrower. The seven-year loan carries a 3.65 percent interest rate, and $7.15 million of the loan will be used for the acquisition of the building, while $2.25 million will be used for the construction of a 10,000-square-foot expansion. The expansion is for the Connecticut Multispecialty Group MSO, an existing tenant that has committed to a long-term lease for the space. Upon completion, the MOB will span 55,850 square feet. The property is fully occupied by a mix of medical tenants including a sleep center, general physician's office and a multi-specialty health center. Dev Morris and Andrew Stewart of Cronheim Mortgage arranged the financing.