WICHITA, KAN. — Simon Property Group is converting a portion of the 951,447-square-foot Towne West Square into a space dedicated to a variety of medical users. According to the company, transforming the space to medical use will be convenient to patients and will allow medical users to cluster, as many physicians prefer to office near each other. Additionally the mall has a built-in customer base, with 6 million visitors each year. “The concept of converting mall space into a non-traditional use is a growing trend and we are seeing successful results for both the tenant and landlord,” says Jeff Englert of Grubb & Ellis/Martens Commercial Group. Grubb & Ellis will represent Simon in leasing space at Towne West Medical Plaza.
SUNNYVALE — Texas Regional Medical Center at Sunnyvale has doubled the bed count of the emergency department in a $100,000 expansion. The emergency department's patient visit count has nearly doubled since 2010, when it recorded 18,000. Now the company expects to have nearly 30,000 patient visits in 2012.
OAK LAWN, ILL. — Irgens has completed the Little Company of Mary Outpatient Care Center, located at 6700 W. 95th St. in Oak Lawn. The 50,000-square-foot facility will house several outpatient services including immediate care, diagnostic imaging and lab. After purchasing the site on 95th Street, Little Company of Mary Hospital retained Irgens to develop the new ambulatory care center. Krusinski Construction Co. served as the general contractor while PFB Architects provided design services.
PARSIPPANY, N.J. — EBI, a subsidiary of medical device manufacturer Biomet Spine & Bone Healing Technologies, has signed a 102,000-square-foot lease at 399 Jefferson Road in Parsippany. The space will serve as the headquarters for Biomet. Prism Capital Partners, which owns the property, will fit out the existing space and build a 28,000-square-foot addition for the company. The headquarters will include laboratories, offices, medical conference rooms and a lunch area. Andrew Schiffer and Robert Rudin of Cushman & Wakefield represented the tenant in the transaction.
NEW BEDFORD, MASS. — Carter Validus Mission Critical REIT has acquired the three-story Vibra New Bedford Hospital in New Bedford for $26 million. The property consists of a 70,657-square-foot long-term acute care hospital. Vibra Healthcare will continue to operate the property under a 16-year, triple-net lease agreement.
SAN ANTONIO — Dallas-based MedProperties Capital Partners will expand its 45,733-square-foot South Texas Spine & Surgical Hospital, located at 18600 Hardy Oak Blvd. in San Antonio, by 8,690 square feet, a nearly 20 percent gain. The expansion includes nine new private patient rooms, a storage room, two critical care rooms and two observation rooms. Also, a new general storage room and an expanded nurses station will be added. Chicago-based National Surgical Hospitals handles operations for the property. Siemens Financial Services is providing construction financing for the project.
SAN ANTONIO — Sports SA Holdings has retained Transwestern's San Antonio office to provide property management and leasing services for the 128,347-square-foot Texas Center for Athletes, a Class A, four-story medical office building located at 21 Spurs Lane in the South Texas Medical Center in San Antonio. The property includes a surgery center, various medical specialties, a pharmacy, therapeutic spa and a deli. Tenants of the center include The Center for Special Surgery, High Performance Pharmacy, South Texas Radiology, Herb & Pickle Deli, Hand Center of San Antonio, Sports Medicine Associates, Stadia Spa, Texas Plastic Surgery, The Ear Medical Group, Roger Macias, Jr. DDS, Vestibular Rehab Specialists, Global Sleep Technologies, Ophthalmology & Ophthalmic Surgery, Impact Physicians of Texas, Texas IPS, Advanced Spine & Pain, Orthopaedic & Spine Institute Chronic Pain Management Center, DJ Ortho/MedEx PSI, OSI Medical Centers Aesthetics & Vascular Center and Heart & Vascular Institute of Texas. Russell Noll, Alan Grillette, Ken Adams and Kathy Nielsen of Transwestern will provide property management services for the center. Amber Austin and 'Licia Shreves of Transwestern will provide leasing services.
LAWRENCEVILLE, GA. — NorthMarq has secured $5.2 million in acquisition financing for the Philip Professional Center, a 32,120-square-foot medical office building. The property is located at 455 Philip Blvd. in Lawrenceville, Ga., approximately 30 miles northeast of Atlanta. Major tenants at the building include Kaiser Permanente and the VA. The 7-year loan is amortized over 30 years. MIke Doll of NorthMarq's Atlanta regional office arranged the financing on behalf of the borrower, ICM Realty Group LLC, through its relationship with a life company lender.
PEARLAND — HCA Gulf Coast Division has plans to build a $71 million, 144,000-square-foot acute care hospital known as Pearland Medical Center. The 30-bed hospital will be located on a 48-acre site at the intersection of Highway 288 and County Road 2234 in Pearland. The hospital will feature surgical suites, medical/surgical beds, intensive care beds, an emergency department and an imaging department. The hospital's women's services include digital mammography, labor/delivery suites, cesarean section operating rooms and a newborn nursery. HCA will break ground on the hospital in 2013 and the hospital is slated for a late 2014 delivery.
LEWISVILLE — Broadstone Net Lease has acquired a 10,060-square-foot medical office building in Lewisville via a sale-leaseback transaction with My Dentist Holdings LLC. The lease term is 14 years on an absolute net basis. The acquisition was part of Broadstone Net Lease's recent acquisition of 21 net leased properties throughout the U.S. totaling approximately $38.8 million.