ATLANTA — Physicians Realty Trust, a healthcare properties REIT, has purchased the Peachtree Dunwoody Medical Center in Atlanta’s Pill Hill hospital district for $36.6 million. The property spans 131,000 square feet and was 96 percent leased at the time of sale. Northside Hospital is the largest tenant in the building with 42,383 square feet, which includes clinical office space, an ambulatory surgery center with seven operating rooms, an imaging center and sleep medicine facilities. Peachtree Orthepedics is the second-largest tenant at 26,785 square feet. The property sold at a 7 percent capitalization rate.
Healthcare
STAMFORD, CONN. — Skanska has signed an additional $149 million contract to build a new medical building for Stamford Hospital. The new approximately 196,850-square-foot medical specialty building will be constructed on the existing Stamford Hospital campus. Construction on the new building began in spring 2013 and is expected to be completed in spring 2016. In 2012, Skanska began construction on a different renovation and expansion project for Stamford Hospital to expand the hospital’s services and capacity.
FORT MYERS, FLA. — Skanska has signed a contract with Lee Memorial Hospital System’s Golisano Children’s Hospital in Fort Myers to construct a new patient tower and renovate the existing main facility. Skanska is building the project in a joint venture with Gates Construction. The total contract value is $144 million, with Skanska’s share equating to approximately $108 million. The eight-story patient tower will include a pediatric emergency department and the new patient pavilion will hold about 160 beds. The renovation and construction are set to begin in the spring and wrap up in April 2017.
JACKSON, CONYERS AND MCDONOUGH, GA. — Physicians Realty Trust, a healthcare REIT, has completed the $20.8 million sale-leaseback of four medical office buildings to an Atlanta-based family medical practice. The four facilities total 68,711 square feet and are fully leased. Two of the properties are located in McDonough and the other two are located in Jackson and Conyers. The four properties are subject to 15-year leases with Eagles Landing Family Practice, which has 34 physicians and more than 250 employees on staff in seven different offices.
PETERSBURG, VA. — Rendina Cos. has completed the development of Southside Regional Medical Arts Pavilion, a $10 million, 32,500-square-foot healthcare facility in Petersburg. The property is located adjacent to the Southside Regional Medical Center at 200 Medical Park Blvd. The facility will be the new home for Southside Regional Medical Center’s Cancer Center and a new women’s imaging center.
SAN ANTONIO — Developer Skanska has completed and opened the 85,000-square-foot intensive care unit tower at San Antonio’s Metropolitan Methodist Hospital. The addition includes expanded radiology and emergency departments, a new gastrointestinal lab, a 24-bed intensive care unit and space for future growth. Skanska reported zero safety accidents resulting in lost time and recycled 95 percent of the construction waste from the project. San Antonio Methodist Healthcare System employs 8,000 professionals in 26 facilities, including nine hospitals.
BLUFFTON, S.C. — Rendina Cos. has completed the $16 million Bluffton Medical Campus, a 60,000-square-foot, two-story outpatient center in Bluffton, S.C. The center is located 12 miles from its parent hospital, Hilton Head Hospital. The facility consolidates many of the services Hilton Head Regional Healthcare offers in Bluffton, including an imaging center, nuclear medicine camera, ultrasound, radiography, orthopedics, a breast health center and various physician offices.
INDEPENDENCE TOWNSHIP, MICH. — Bernard Financial Group has arranged a $1.1 million loan for Dixie Highway Medical Center, a 36,796-square-foot medical office building in Independence Township, located about 40 miles northwest of Detroit. The borrowing entity is 7250-7300 LLC. Kevin Kovachevich of Bernard Financial Group originated the loan. Ohio National Life Insurance Co. provided the loan.
NORTH BERGEN, N.J. — Palisades Medical Center and Duke Realty have broken ground for a 57,000-square-foot ambulatory service building on Palisades’ campus at 7600 River Road in North Bergen, about 12 miles northeast of Newark. The three-story building will provide ambulatory and specialty care services, including a dialysis center and cancer center, as well as endoscopy, cardiology, gastroenterology, orthopedics and multi-specialty physician practices. AMB Development Group was the architect for the project, and Structure Tone was the general contractor. The facility is slated for completion in fall 2014.
SAN ANTONIO — Henry S. Miller Brokerage has arranged the sale of a 10,000-square-foot flex building in San Antonio. Located on approximately 2.3 acres at 1711 Columbia Square, the former restaurant property is in proximity to Southwest Loop 410. Jim Turano and Keith Coelho of Henry S. Miller Brokerage represented the buyer, Columbia Square LLC, which will repurpose the building as the third metro-area location of San Antonio Dialysis outpatient services. Joe Caroll of Cavender & Hill Real Estate represented the seller, Brisend Investments LP, in the transaction.