CLEVELAND — Louisville, Ky.-based New Directions Health Systems and Whitetail Land Development have partnered to develop new medical facilities in Timbercrest Medical Park, located on a 600-acre campus at the intersection of State Highway 105 and the eastern bypass in Cleveland. The new properties will include medical office buildings, a hospital and an assisted living facility. New Directions is the management firm for Cleveland Regional Medical Center, which plans to lease 40,000 square feet of office space in the new development. Construction on the medical office buildings is slated for the summer of 2012, and construction for the hospital will commence after 2016.
FLOWER MOUND — Dr. Arthur Bradley has signed a 5-year, 1,410-square-foot lease to open his chiropractic practice, Arteva LLC, at Shops at Flower Mound, a 44,353-square-foot neighborhood shopping center located at 2021 Justin Rd. in Flower Mound. Leigh Richter and Paul Richter of Bradford Commercial Real Estate Services' Dallas office represented the landlord, Houston-based KM Flower Mound, in the lease transaction.
ST. LOUIS — Tampa-based Carter Validus Mission Critical REIT has acquired the St. Louis Surgical Center, an ambulatory surgical center in St. Louis, for $8.4 million. The facility is in close proximity to three area hospitals: St. Johns Mercy Medical Center, BJC Missouri Baptist and Barnes Jewish West County Hospital. The surgical center opened in 2005 with nine pre- and post-operating bays and five operating rooms totaling 14,718 square feet. In 2007, the facility expanded by 7,105 square feet with the addition of two operating rooms and nine overnight stay rooms.
CHICAGO — Rockford 550 has completed the $2.2 million sale of a 13,980-square-foot medical property, located at 825 W. 35th St. in Chicago. The property is net-leased to Fresenius Medical Care (FMC), which has 11 years remaining on its lease. FMC specializes in kidney dialysis and patient-oriented renal therapy. Ben Rosenfield of Titan Commercial's Chicago office represented Rockford in the transaction. Coldwell Banker represented the buyer, Georgia Tsoutsos.
PHILADELPHIA —Pennsylvania Real Estate Investment Trust has signed an agreement to launch a Mercy Health System consumer health and wellness facility at Plymouth Meeting Mall in Philadelphia this September. The health system is aligned with Mercy Suburban Hospital. The 23,000-square-foot outpatient ambulatory healthcare facility will include primary care physicians and specialist offices, physical therapy and non-invasive procedure suits, imaging facilities and a walk-in clinic. The space will be accessible from both inside and outside the mall.
ROXBURY, MASS. —Whittier Street Health Center has unveiled its new six-story, 79,000-square-foot health and wellness facility in Roxbury. The $37 million building will house a variety of medical, social and wellness services, including cancer screening, dental care and violence prevention programs. Construction was funded in part by federal stimulus money. Whittier received a $12 million grant through the American Recovery and Reinvestment Act in 2010. The center is located at 1190 Tremont St.
EAST POINT, GA. — The 30,000-square-foot Camp Creek Medical Center III, located on Redwine Road in East Point, has sold for $8.9 million. The two-story medical building is the third of a four-building outpatient medical campus located in the new Camp Creek community of South Fulton County. The property is 97 percent leased to tenants including Tenet South Fulton, Orthepaedics of Atlanta and Georgia Cancer Specialists. Andrew Murphy and Spencer Coan of Atlanta-based Ackerman & Co. represented the seller, Camp Creek Medical Center III, LLC, in the transaction. The buyer was Arizona Real Estate Investment Trust.
FORT STEWART, GA. — McCarthy Building Cos. has broken ground on the $23.1 million expansion and renovation of The Winn Army Community Hospital at Fort Stewart, located at 1061 Harmon Ave. in Fort Stewart. Construction will include a new 65,000-square-foot building and the renovation of approximately 1,000 square feet of the existing hospital. The project is targeted to achieve LEED Silver Certification. The U.S. Army Corps of Engineers, Savannah District, is overseeing the contract and construction, and Leo A. Daly is the architect for the project. The new hospital building will include physical and occupational therapies, orthopedics, podiatry, social services and behavioral health. Completion is slated for September 2013.
ELK GROVE VILLAGE, ILL. —Meridian Design Build has completed the renovation and expansion of a 14,626-square-foot medical office facility for Barrington Orthopedic Specialists at 120 E. Higgins Rd. in Elk Grove Village. The project, completed in 64 days, included the full renovation of an existing single-story office building to repurpose it for medical use. The facility includes a physical therapy gym, cast rooms and imaging areas. Bob Kolcz and Fred Jennings coordinated the project for Meridian Design Build. Arete-Knight provided design services.
OVERLAND PARK, KAN. — Newmark Knight Frank has arranged the $16.6 million sale of Southridge Medical Building, a 57,000-square-foot medical office building adjacent to Saint Luke's South Hospital in Overland Park. Michael Bennett of Newmark represented the seller, a private group of doctors associated with Saint Luke's Health System, in the transaction. The buyer was a Midwest family trust.