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.
EL PASO — The 225,000-square-foot El Paso Children's Hospital, located at 4845 Alameda Ave. in El Paso, has opened. The hospital is the first and only independent, 501(c)(3) not-for-profit children's hospital in the El Paso area. The hospital features 122 private pediatric rooms, an “enchanted forest” play area, a 22-bed intensive care unit, a 50-bed neonatal intensive care unit, four operating rooms, a pediatric critical care transport team and an emergency department. KMD Architects designed the hospital along with El Paso-based MNK Architects. Birmingham, Ala.-based Robins & Morton was the general contractor for the project and Jones Lang LaSalle's Houston office provided project management services.
SYRACUSE, N.Y. — NorthMarq Capital has arranged an $8.8 million loan for the first mortgage refinancing of 550 Harrison Center, a 97,076-square-foot medical office building in Syracuse. Michael James of NorthMarq’s Rochester, N.Y. office arranged the 10-year loan through a life insurance company. The loan includes a 25-year amortization schedule.
TAYLOR, MICH. — Aspen Dental, a dental care provider, has inked a 3,200-square-foot lease at the northwest corner of Eureka and Racho roads in Taylor, about 18 miles outside of Detroit. Gabe Schuchman, Tony Schmitt and Samantha Tullio of Mid-America Real Estate-Michigan represented the tenant in the transaction.
CANTON, OHIO — Luttner Real Estate Investment Services has arranged the $5.6 million sale of a 32,160-square-foot medical office building in Canton. The property, which was built in 2000, is leased to NeuroCare Center. Neurocare recently entered into a new, 15-year lease. Mark Luttner of Luttner Real Estate Investment Services represented the seller, a private ownership group. He also procured the buyer, a private East Coast investor.
THORNDALE, PA. — Eastern Thorndale Partners has acquired a 10,840-square-foot medical office building at 3025 C.G. Zinn Rd. in Thorndale for $1.3 million. Constructed in 1994, the two-story building includes exam rooms, X-ray rooms and administrative offices. The building layout is conducive to usage by multiple tenants. Scott Williams of Binswanger represented the landlord, HMBT Realty Associates, in the transaction.
MESA, ARIZ. — Banner Health has purchased 21 acres in Mesa for $6.3 million. The acreage is located just east of the southeast corner of US 60 and Greenfield Road. The seller, Crisko LLC, was represented by Brent Moser, Mike Sutton and Brooks Griffith from Cassidy Turley BRE Commercial’s Land Group.
TEXAS AND OKLAHOMA — Broadstone Net Lease, a REIT managed by Broadstone Real Estate Services, has acquired six net-leased medical office properties for $17.2 million. The properties are located in Oklahoma and Texas, as well as Arkansas, Kansas and Kentucky.
