IRVING — Houston-based PM Realty Group (PMRG), a national, full-service commercial real estate firm, has been awarded the leasing assignment for President's Medical Center, located at 380 W. LBJ Fwy. in Irving. The 54,000-square-foot Class A medical facility is adjacent to Baylor Irving Medical Center. Kyle Libby of PMRG will be the leasing manager for President's Medical Center.
NEW YORK CITY — International property and infrastructure group Lend Lease has acquired The DASCO Companies, one of the United States' leading developers and managers of health care real estate. The new company will be known as Lend Lease DASCO and will focus on the healthcare sector. It will operate as a separate unit within Lend Lease's Americas region. DASCO President and CEO Malcolm Sina will continue to lead the company as president and managing director.
LOS ANGELES — NAI Capital has presided over the $2.6 million sale of a 16,770-square-foot correctional facility located at 8141 Orion Ave. in the Van Nuys area of Los Angeles. The halfway house is situated on 25,735 square feet of land. NAI Capital’s Chuck Carmichael represented both the buyer, Behavioral Systems Southwest, and the seller, William S. Heller Co., in the transaction.
ALBUQUERQUE, N.M. — NAI Maestas & Ward Commercial Real Estate has brokered the sale of the former Spiritual Renewal Center, located at 6400 Coors Blvd. NW in Albuquerque, to the Episcopal Diocese of the Rio Grande. The two-building complex had a list price of $1.95 million. NAI Maestas & Ward’s Jim Hakeem represented the seller in the transaction.
ALBION, IND. — Minthorn Enterprises LLC has acquired a 42,750-square-foot site on 4.34 acres in Albion. Located at 71 E. 400 South, the property will be the future site of OPI Medical Headquarters – Orthopedic Precision Instruments. Alex Genova of CB Richard Ellis | Sturges represented the buyer and the seller, Group Dekko Inc., in the transaction. The acquisition price was not released.
TAMPA, FLA. — Broadstone Net Lease Inc. (BNL) has acquired five triple net-leased medical office buildings in Florida and Texas for a total of $18.4 million. BNL purchased four radiology centers in a sale-and-leaseback transaction in the Tampa Bay area. The properties comprise more than 50,000 square feet and are leased to Tower Radiology Centers for 15 years. Additionally, the company completed a sale-and-leaseback transaction for the Plastic and Cosmetic Surgery Center of Texas. The 11,000-square-foot property is located in Plano, Texas. Terms of the transactions were not disclosed.
RICHMOND, VA. — Columbus, Ohio-based Morris, Smith & Feyh has closed on a $12.6 million first mortgage loan. The loan is secured by a 90,000-square-foot, multi-tenant medical office building in Richmond. Joseph Gonzales of Morris, Smith & Feyh's Cleveland office originated the loan on behalf of the undisclosed borrower. The loan was provided by one of Morris, Smith & Feyh's correspondent lenders.
ROCHESTER HILLS, MICH. — Rochester MOB LLC has purchased a 50,000-square-foot medical office building in Rochester. Flagstar Bank sold the property, which is located at 1349 S. Rochester Road, for $2.82 million. Bruce Morrison of Signature Associates represented both parties in the transaction.
ELMHURST, ILL. — Reed Construction has been selected to complete a medical office building build-out at Elmhurst Medical and Surgical Center in Elmhurst. Located at 340 W. Butterfield Road, the office renovation includes the construction of a surgical procedure room, recovery rooms, examination rooms, laboratories and doctors' offices. Additionally, Reed Construction will build-out a reception area, nursing stations, waiting areas and employee break rooms. A new mechanical and electrical system will also be installed. The Proteus Group is providing architectural services for the project, which is slated for completion in first quarter 2011.
ROCKFORD, ILL. — Developer W.D. Schorsch Real Estate has selected McShane Construction Co. construct a 32,150-square-foot Rockford Veterans Affairs Community-based Outpatient Clinic in Rockford. Situated on 3.9 acres at Featherstone Drive and Mulford Avenue, the project will feature a public waiting area and lobby, physician offices, treatment rooms, staff support areas, a pharmacy, diagnostic testing capabilities and laboratories. Marasco & Associates Inc. designed the facility to achieve LEED Silver certification. The project is scheduled to break ground in spring with completion slated for early 2012.