GOODYEAR, ARIZ. — Mountain Ranch Medical Commons, an 18,000-square-foot, Class A medical office facility, is going to be developed within the mixed-use, master-planned community of Goodyear. It will reside on 5.3 acres. The official groundbreaking is scheduled for fall 2012 with a mid-2013 opening date. Mountain Ranch is being developed by Irgens. The land inside Estrella was purchased from Newland Communities, while Banner Health will serve as the anchor medical tenant. It is being designed by architect 33 North. Bruce Campbell of CBRE is serving as the listing broker for the balance of the project.
COLUMBUS, OHIO — Crews lifted the final beam into place for the $1.1 billion James Cancer Hospital and Solove Research Institute and Critical Care Center, located on the Ohio State University medical campus. When complete in 2014, the 21-story hospital will be one of the 15 tallest hospitals in the nation. The Wexner Medical expansion is the largest expansion project in OSU's history. The project is slated to create 6,000 permanent research and healthcare professional positions.
TAUNTON, MASS. — Allergy & Asthma Care PC has purchased a 5,500-square-foot medical office condominium at 101 Industrial Park Road in Taunton for $1.5 million. The practice is relocating from Northwoods Medical Center in Taunton. Catherine Minnerly and Ovar Osvold of NAI Hunneman represented the seller, Myles Standish Medical Center, in the transaction. They also procured the buyer.
BUFFALO, N.Y. — HOK has been selected to design the $375 million School of Medicine and Biomedical Sciences at the University of Buffalo (UB). Construction is slated to begin in 2013 and wrap up in 2016. UB has wanted to relocate its medical school from the South campus to the Buffalo Niagra campus for years as part of its long-range UB 2020 growth plan. The new facility will be situated in downtown Buffalo and is expected to bring 1,200 students, faculty and staff to campus. The project is partially funded by NYSUNY 2020 legislation.
LAKEWOOD, N.J. — River Drive Construction has completed a $3.6 million project for the Ocean Health Initiatives (OHI) Lakewood Health Center in Lakewood, a health facility providing care for people who are uninsured or underinsured. The company constructed a two-story, 16,000-square-foot facility at 101 Second St., which was built on top of the existing 9,000-square-foot OHI building. The new facility houses the obstetrics/gynecology and pediatrics wings that include 20 examination rooms and an administrative area.
TEXAS — National Health Investors (NHI) has exercised an option to purchase and lease a new 125-bed skilled nursing facility in Texas for $13.4 million. The property is operated by affiliates of Legend Healthcare LLC. The acquisition will be funded from available cash and NHI's revolving credit facility.
NASHVILLE, TENN. — Southeast Ventures has completed the second phase of HealthSpring's 175,000-square-foot MetroCenter campus, located at 500 and 530 Great Circle Rd. in Nashville. The two office buildings will serve as HealthSpring's primary location for more than 1,050 of the company's 3,600 employees. Southeast Ventures developed and owns the building. Highlights of the buildings include wrap-around windows to provide ample natural lights, a landscaped outdoor courtyard with sunken seating, multiple dining areas and training and conference rooms.
DALLAS — Mark One Capital, a subsidiary of Marcus & Millichap Capital Corp., has arranged $16.5 million in acquisition financing for an 81,585-square-foot medical office building, located in Dallas. Farhan Kabani of Mark One Capital's Dallas office arranged the loan with 3 years of interest only fixed at 3.42 percent.
HUMBLE — Lexington Realty Trust, in a joint venture with an 85 percent equity partner, has acquired a 55,650-square-foot inpatient rehabilitation hospital, located in Humble, for $27.8 million. The property is leased to SRP Triumph NE Houston LP for a remaining 17 years. The obligations of the tenant under the lease are unconditionally guaranteed by RehabCare Group and Kindred Healthcare. The acquisition was partially funded by a $15.3 million non-recourse mortgage.
BRYAN — A joint venture between Orlando, Fla.-based Sentio Healthcare Properties and Dallas-based Caddis Partners has acquired the 114,583-square-foot Physicians Centre Medical Office Building, located at 3201 University Drive E. in Bryan, for $11.5 million. The property has a tenant roster of 32 primary care practices and is connected to The Physicians Centre Hospital.