Healthcare

PARTNERSHIP BUYS 39,899 SF MEDICAL BUILDING IN BETTENDORF

by admin July 15, 2013

BETTENDORF, IOWA —EnTrust Realty Advisors LLC has arranged the sale of the Lincoln Healthcare Building, a 39,899-square-foot medical office building in Bettendorf. The purchase price was undisclosed. Genesis Health System anchors the building, which is located at 865 Lincoln Road, about seven miles northwest of Davenport. EnTrust Realty Advisors and NAI Ruhl & Ruhl Commercial Co. represented the seller, a private partnership, in the transaction. Mel Foster Commercial represented the buyer, a local private investor.

July 15, 2013

IRGENS DEVELOPING 30,000 SF CHICAGO AREA MOB

by admin July 15, 2013

MOKENA, ILL. — Irgens has begun developing Mokena Medical Commons, located on 191st St. in Mokena, about 35 miles southwest of Chicago. Women’s Healthcare of Illinois, a group that provides comprehensive woman-focused healthcare services, has committed to lease 15,000 square feet at the single-story, 30,000-square-foot, Class A facility. The 3.7-acre site will allow for a flexible floor plan to accommodate tenants of all sizes, an abundance of surface parking and customized suites.

July 15, 2013

Healthcare Northeast

SUFFOLK BREAKS GROUND ON $280M RESEARCH FACILITY IN BOSTON

by admin July 11, 2013

BOSTON — Suffolk Construction has celebrated the groundbreaking of the Brigham Building for the Future project, a $280 million research lab and clinical facility in Boston. Located on the Brigham and Women’s Hospital campus, the 620,000-square-foot, 11-story building will include a 460-car parking garage, lab and outpatient clinical space, imaging facilities and a conference center. A pedestrian bridge will be constructed to connect the Brigham Building for the Future to the existing Carl J. and Ruth Shapiro Cardiovascular Center, which was also built by Suffolk. Designed to achieve LEED Gold certification, the building will feature a roof garden to reduce storm water runoff; a system that cleans and reuses storm water for mechanical equipment; and a co-generation plant to supply the building with electricity, steam and hot water. Suffolk is partnering with architecture firm NBBJ. Construction is slated for completion in fall 2016.

July 11, 2013

Healthcare Western

MOLINA HEALTHCARE EXECUTES $158M SALE, LEASEBACK FOR TWO OFFICE BUILDINGS

by admin July 10, 2013

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.

July 10, 2013

Healthcare Northeast

CAPITAL ADVISORS SECURES $4.7M LOAN FOR MEDICAL OFFICE BUILDING

by admin July 10, 2013

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.

July 10, 2013

Healthcare Western

MOLINA HEALTHCARE EXECUTES $158M SALE, LEASEBACK FOR TWO OFFICE BUILDINGS

by admin July 10, 2013

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.

July 10, 2013

Healthcare Southeast

SKANSKA TO RENOVATE WILLIAMSON MEDICAL CENTER

by admin July 9, 2013

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.

July 9, 2013

Healthcare Midwest

24,988 SF MEDICAL OFFICE PROPERTY SELLS FOR $5.4M IN JACKSON, OHIO

by admin July 9, 2013

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.

July 9, 2013

Healthcare Northeast

HAMPSHIRE SELLS TWO MEDICAL OFFICE BUILDINGS IN ENGLEWOOD

by admin July 9, 2013

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.

July 9, 2013

Healthcare Southeast

CARTER VALIDUS REIT ACQUIRES SURGICAL HOSPITAL FOR $22.6 MILLION

by admin July 3, 2013

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.

July 3, 2013

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