BOSTON — Dana-Farber Cancer Institute has signed a 154,100-square-foot lease at Longwood Center in Boston. The leasing agreement places Dana-Farber as the anchor tenant of the 11-story building, which will be located at 360 Longwood Ave. Construction of the building has begun and Dana-Farber anticipates a 2014 move-in date. The new locations will be designed to allow Dana-Farber to expand its translational research initiatives, which are focused in part on accelerating the pace of laboratory discoveries that are converted into clinical uses. Robert Richards and Chris McCauley of Richards Barry Joyce & Partners represented the tenant in the lease. The building developers were represented in-hous
COLUMBIA, S.C. — Fred Ross of Dickinson, Logan, Todd & Barber's Columbia office has arranged an $11.5 million loan for a medical office building portfolio located throughout South Carolina. The properties total 68,386 square feet. A Midwest life insurance company provided the 15-year, fully amortizing loan.
HARKER HEIGHTS — Rendina Cos. has completed construction on the 60,000-square-foot Harker Heights Medical Pavilion, located on the Seton Medical Center Harker Heights campus in Harker Heights. Rendina was responsible for all aspects of development, including construction management, leasing and tenant improvement coordination. The new facility will consist of family practice, cardiology, OB/GYN, orthopedics, ophthalmology, ear, nose and throat, podiatry and emergency medicine. The facility is a collaborative effort between Rendina, LHP Hospital Group and Seton Medical Center Harker Heights.
BOSTON — Developers have broken ground on Longwood Center, a 11-story laboratory building in Boston's Longwood Medical Area. The planned facility will include 414,000 square feet of space adjacent to the Joslin Diabetes Center. A joint venture between National Development, Charles River Realty Investors, Alexandria Real Estate Equities and Clarion Partners is developing the project. The project is scheduled for completion in the fall of 2014.
ARLINGTON AND SUNNYVALE — Dallas-based Caddis Partners has sold two medical office buildings — The Texas Medical Clinic at Arlington in Arlington and Sunnyvale Medical Plaza in Sunnyvale — to an affiliate of American Realty Capital Healthcare Trust. Caddis Partners will continue to manage the properties. The Texas Medical Clinic at Arlington is 66,819 square feet and features space for 40 physicians. The property features an on-site lab, a sleep lab, a conference room and a women's center with diagnostic imaging. The medical office building was developed by Caddis Partners in 2010. Sunnyvale Medical Plaza is 48,910 square feet on the campus of the Texas Regional Medical Center at Sunnyvale. The 70-bed hospital was developed by Caddis Partners in 2009.
NEW LENOX, ILL. — HSA PrimeCare has completed development of a $21.6 million outpatient cancer treatment center for Silver Cross Hospital in New Lenox. The 22,500-square-foot facility was constructed on the campus of Silver Cross' newly developed replacement hospital at Highway 6 and Silver Cross Boulevard. The University of Chicago Medicine oncology department will occupy 10,244 square feet of the building and a University-Silver Cross Hospital joint practice in oncology will occupy 9,661 square feet. The facility will open for patients on June 25.
ORLANDO — Orlando-based National Retail Properties Inc. has purchased six MedExpress Urgent Care centers in Pennsylvania and West Virginia for $12.9 million. The facilities were constructed in 2011 and each include new, 10-year leases. The properties include a 6,000-square-foot building at 3516 Saw Mill Run Blvd. in Pittsburgh; a 6,656-square-foot building at 1729 E. State St. in Hermitage, Pa.; a 5,747-square-foot building at 1139 Baltimore St. in Hanover, Pa.; a 5,786-square-foot building at 3876 Route 30 in Latrobe, Pa.; a 5,460-square-foot building at 6396 State Highway 819 S. in Mt. Pleasant, Pa.; and a 5,652-square-foot building at 630 Fairmont Ave. Paul Fedorko of Marcus & Millichap represented the seller, MedExpress Urgent Care, in the transaction. He also represented the buyer.
NORTH ROCKWALL — KDC has commenced construction of the 16,600-square-foot Texas Health Presbyterian Hospital Rockwall, a medical facility located in North Rockwall. The facility will house two multi-physician offices, an emergency room, laboratory and diagnostic resources. Construction is slated for a late 2012 completion, and the emergency room is scheduled to be operational in early 2013. Corgan Architects designed the property and MAPP Construction is the general contractor.
FORT WORTH — Velocis and its investors have purchased the 89,727-square-foot Magnolia Medical Tower, a medical office building located in Fort Worth's Medical District. The property, formerly known as the Medical Arts Building, was built in 1985 and is currently 67 percent leased to private doctors and medical service firms. Velocis plans to invest $1.5 million to upgrade the elevators, improve entries and exits, modernize the lobbies, refurbish the parking garage and upgrade the corridors and bathrooms. Will Northern of Northern Realty Group, along with Velocis Fund Advisory Board member Webber Beall III, represented the buyer in the transaction. Lincoln Harris, CSG will manage and lease the property.
TULSA, OKLA. — Five dental clinics fully leased to My Dentist, located in Texas, Oklahoma and Arkansas, have sold for $9.48 million. Toby Scrivner, Jeff Matulis and Karen Vinsko of Stan Johnson Co. represented the seller, an Oklahoma City-based developer, in the transaction and procured the buyer, a New York-based REIT. The properties are debt-free and have newly established 15-year, triple net leases with attractive annual rent increases.