MISHAWAKA, IND. — Birmingham, Ala.-based Sanders Trust has purchased a 46,000-square-foot rehabilitation hospital in Mishawaka, an eastern suburb of South Bend, for $17 million. The 40-bed Saint Joseph Rehabilitation Institute provides services to patients of the Saint Joseph Regional Medical Center, South Bend Orthopedics and other providers, Trinity Health, one of the largest health care systems in the country, runs the medical center.
NEW YORK CITY — Central Medical Services of Westrock (CMSW) has signed a 10-year lease for 4,150 square feet of medical office space on the ninth floor of Forest HIlls Tower. The 350,000-square-foot building is located at 118-35 Queens Blvd. in Forest Hills, a neighborhood in the New York City borough of Queens. CMSW, a provider of healthcare services to people who are injured at work, will move into their new space in May. Nicholas Forelli of Muss Development represented the landlord in the transaction.
HOLDEN, MASS. — Margulies Perruzzi Architects (MPA) has completed a new three-story, 36,000-square-foot medical office building in Holden, located about eight miles north of Worcester. MPA designed the new multi-tenant Holden Health Building for Oriol Health Care, a local family-owned and operated healthcare organization, and its primary tenant Reliant Medical Group, a multi-specialty medical group. The architectural group provided interior architecture and healthcare design services for Reliant’s 17,700-square-foot space. The new facility includes 25 exam rooms for family practice and OB/GYN, as well as laboratory, radiology and mammography services, a retail pharmacy, and an optometry center.
ORLANDO — Lake Nona has announced plans to build the Lake Nona Gateway Building, a 100,000-square-foot medical office building on the northwest corner of Narcoossee Road and Tavistock Lakes Boulevard in Orlando. Florida Hospital and University of Central Florida's Pegasus Health will become anchor tenants in the new building. Florida Hospital expects to establish a combination of services, including a CentraCare urgent care center, imaging and diagnostics and an outpatient surgery center. UCF's College of Medicine will expand Pegasus Health, the college's primary and multi-specialty practice. The project is expected to break ground in the fall with a projected opening in mid-2014. Lake Nona is a 7,000-acre master planned community within the city limits of Orlando.
HOLLAND, MICH. — The 117,750-square-foot Lakeshore Medical Office Complex in Holland has sold to a private family office based in New York City and Chicago for $8 million. The four-building complex is 85 percent occupied and was owned by a CMBS Trust. Kevin Baker and Daniel Kukes of Landmark Commercial Real Estate Services Inc. represented the buyer in the transaction.
JACKSONVILLE — Johnson Development has started construction on a 60,000-square-foot medical office building in Jacksonville. The property will be located next to St. Vincent's Medical Center Clay County hospital, a new 64-bed hospital scheduled to open in 2013. The medical office building will house facilities for cardiology, wound care, orthopedics, rehabilitation, neurology and include a sleep center. Johnson Development will own the property with a group of area physicians. The medical office building is slated for completion in October.
DETROIT — Queen Lillian Development has plans to construct the Midtown Professional Building, a $30 million medical office building at the corner of Mack and Woodward avenues in Midtown Detroit. The partnership, which includes developers Jim Jenkins and Chris Jackson, says that a retail tenant, a medical practice and a dental practice have expressed interest in locating to the 75,000-square-foot, five-story facility, which will include a 280-car parking garage. Construction is slated to begin in August.
ST. JOHNS, FLA. — St. Johns Medical Ventures LLC has acquired 2 Doctors Village Drive in St. Johns, a 10,944-square-foot freestanding emergency room built in 2012, for $3 million. Giles Stevens of Lee & Associates represented the buyer in the transaction. Josh Pardue of Stan Johnson Co. represented the seller, Jacksonville Medical Center Development LLC.
KING OF PRUSSIA, PA. — Cronheim Mortgage has secured $10.3 million in financing for a 74,326-square-foot medical office building located off Schuylkill Expressway in King of Prussia. The loan was placed with a CMBS lender on a 10-year term with a 30-year amortization schedule. The borrower was a major Philadelphia-based developer. The property is a brick-clad office building located at the intersection of South Gulph Road and South Henderson Road. It was 82 percent occupied by nine tenants at the time of sale. Main Line Spine, The Philadelphia Hand Center and a private wealth management firm anchor the medical office building. David Turley and Janet Proscia of Cronheim Mortgage arranged the loan.
SAN ANTONIO — Skanska USA has topped off Metropolitan Methodist Hospital, a campus of Methodist Hospital in downtown San Antonio. The expansion includes a 85,000-square-foot, seven-story patient tower that will house an intensive care unit (ICU) that can accommodate 48 ICU beds, additional surgical and diagnostic space and a gastrointestinal lab. Skanska USA is anticipating wrapping up construction in early 2014. Earl Swensson Associates is the project architect. Metropolitan Methodist Hospital has invested more than $105 million in the property during the past six years.
