ANDREWS AND MIDLAND, TEXAS — McCarthy Building Cos. Inc. has broken ground on the Permian Regional Medical Center in Andrews and has completed Midland Memorial Hospital. McCarthy is teaming up with Trinity Hughes Construction; Bundy, Young, Sims & Potter Inc.; and HKS Architects on the $55 million Permian Regional hospital project. The hospital will span 200,000 square feet and feature a wellness center and a physician clinic with offices. The new facility will replace the existing one and tie into the hospital's skilled nursing unit. The project will be constructed in multiple phases and is slated for a mid-2016 completion. McCarthy also completed the $120 million expansion project of Midland Memorial. The hospital features a 240,000-square-foot, nine-story tower as well as renovations to the existing 100,000-square-foot hospital. The project included upgrades to the labor and delivery units, parking garage, patient rooms and data center. The project also included a new pharmacy, cafeteria and 194 new patient beds.
MENTOR, OHIO — Luttner Real Estate Investment Services has arranged the sale of a freestanding medical building in Mentor, located about 25 miles east from Cleveland, for $1.7 million. The building, which is located at the intersection of Mentor Avenue and Center Street, is occupied by Cleveland Clinic Sports Health Center. The Cleveland Clinic has seven years and seven months remaining on its lease. Mark Luttner of Luttner Real Estate represented the seller in the deal. The buyer was a Northeast-based private REIT.
WEST BLOOMFIELD, MICH. — Seavest Properties III LLC and KIRCO Health Partners have acquired the Beaumont Medical Center in West Bloomfield, about 25 miles northwest of Detroit. The three-story, 149,000-square-foot outpatient center and medical office building is located on 11 acres at 6900 Orchard Lake Road. The majority of the building is leased by the Beaumont Health System with the rest of the space set aside for independent physician practices. The purchase price was undisclosed.
LEXINGTON, MASS. — SynapDx Corp. and Promedior Inc. have signed leases totaling 18,424 square feet of laboratory space in Lexington, a northwest suburb of Boston. SynapDx Corp. leased 10,724 square feet at 4 Hartwell Place. Promedior leased 7,700 square feet at 101 Hartwell Avenue. SynapDx is a private company providing laboratory diagnostics to physicians who suspect children of developmental disorders. Pormedior is a clinical stage biotechnology company that is developing biologic therapeutics for the treatment of fibrosis. The landlord was King Street Properties, which was represented by Richards Barry Joyce & Partners in the deal.
MENOMONEE FALLS, WIS. — The Wisconsin Athletic Club, Froedtert Health and Ryan Cos. have broken ground on a 90,000-square-foot sports medicine and fitness facility. Located on 10.6 acres near the southwest corner of Pilgrim Road and the U.S. 41 corridor in Menomonee Falls, about 20 miles west of Milwaukee, the building will be anchored by the Wisconsin Athletic Club and Froedtert Health. The Wisconsin Athletic Club will occupy a one-story, 47,500 square-foot portion slated to open this November. Froedtert Health will lease 42,500 square feet of space in a two-story building that will offer a wide variety of sports medicine and orthopedic services scheduled to open Jan. 2014. Ryan Cos. is leading the property development and construction.
NEW YORK CITY — Simone Healthcare Development Group has purchased the Park Avenue Medical Arts Center, a medical condo space at 62 East 88th St. in New York City, for $11.5 million. Located between Park and Madison avenues, the 15-story building was constructed in 1986 and contains 18 residential units in addition to the medical condominium space. The 19,000-square-foot medical property includes a separate private entrance from the residences and a private elevator. Corcoran Wexler Healthcare Properties and CBRE represented the seller, S&H 88th Street Associates, while Wexler represented the buyer in the deal.
INDIANAPOLIS — Block Funds and Block Healthcare Development have acquired two medical buildings in Indianapolis for approximately $8 million. Both buildings were fully occupied at the time of sale. One of the properties, Central Indiana Cancer Center, is located at 6845 Rama Drive and spans more than 19,338 square feet. CyberKnife of Indianapolis, a 108-bed acute care hospital, spans 15,721 square feet and is located at 1346 E. County Line Road.
LA JOLLA, CALIF. — The Scripps Research Institute in La Jolla has received a $42-million loan that will be used to refinance an existing mortgage. The campus features more than 1 million square feet situated on 35 acres near the Pacific Ocean and the Torrey Pines life science submarket. The fixed-rate financing was arranged by Jackson Cloak of Berkadia Commercial Mortgage LLC and Morgan Stanley.
LA JOLLA, CALIF. — The Scripps Research Institute in La Jolla has received a $42-million loan that will be used to refinance an existing mortgage. The campus features more than 1 million square feet situated on 35 acres near the Pacific Ocean and the Torrey Pines life science submarket. The fixed-rate financing was arranged by Jackson Cloak of Berkadia Commercial Mortgage LLC and Morgan Stanley.
BLAINE, MINN. — The Blaine Medical Center, a 76,637-square-foot medical office building, has sold for $14.5 million to REIT that owns senior living communities. The medical office, located at 11855 Ulysses St. in Blaine, is fully occupied and anchored through May 2022 by Multicare Associates. Gino Lollio and Scott Niedergang of Marcus & Millichap represented the buyer and seller, a partnership between the anchoring physician group in the building and a local developer, in the deal.