LEWISVILLE — Marcus & Millichap has brokered the sale of the 19,896-square-foot Baylor Surgicare at Lewisville, a medical office building located at 1854 Lakepointe Dr. in Lewisville. Chris Gomes and Ashish Vakhariya of Marcus & Millichap's Detroit office represented the seller, a partnership, in the transaction. Vakhariya also represented the buyer, a limited liability company. Tim Speck of Marcus & Millichap's Dallas office assisted in closing the transaction.
NEWPORT BEACH, CALIF. — Newport Beach-based Griffin-American Healthcare REIT II has purchased 10 skilled nursing facilities and one medical office building for $174.3 million. The properties are located in Georgia, Tennessee, Louisiana, Alabama and Texas. The 10 nursing facilities add 1,364 beds to the Griffin-American Healthcare REIT II's skilled nursing facility portfolio and are leased through 2027 by affiliates of Wellington Healthcare Services, the seller of the properties. Matt Ryan and Michael Hoagberg of Houlihan Lokey's Chicago office represented the seller in the transaction. The 60,000-square-foot SIerra Providence East Medical Plaza I, located in El Paso, Texas, was acquired from PHT Investment Holdings. Chris Bodnar of CBRE's Denver office represented the seller.
WATERFORD, CONN. — Suffolk Construction was awarded the Lawrence & Memorial Hospital's Cancer Center project in Waterford. The $34.5 million project will include a new, 47,000-square-foot facility for radiation and medical oncology programs. Construction will begin this spring and the grand opening is scheduled for September 2013.
BRYAN — A $26 million, 130,000-square-foot clinical facility, located on the Texas A&M Health Science Center Bryan campus in Bryan, has been completed. The Class A office, clinical and educational facility will serve the Texas Brain and Spine Institute, Mary Crowley Cancer Research Centers and Blinn College Allied Health programs, as well as the Texas A&M Health Science Center College of Medicine. Rose Rock Capital and U.S. HealthRealty developed the project and provided financing, BOKA Powell was the programmer, designer and architect of record, and Skanska USA Building provided construction manager services.
CHARLSETOWN, MASS. — Construction manager Wise Corp. has completed work on a new 20,000-square-foot addition at the MGH Institute of Health Professions in Charlestown. The project included new and expanded physical therapy laboratories, a 104-seat classroom, a cafeteria and floor-to-ceiling windows overlooking Boston Harbor. MGH is an interprofessional graduate school for healthcare specialists.
FLOWER MOUND — MedProperties Holdings has made an equity investment in the 42,000-square-foot Flower Mound Health Plaza, a medical center being developed on a 5-acre site located at FM 2499 and Cross Timbers Road in Flower Mound. Caddis Partners is developing the property, which will begin construction this month and is slated for a December 2012 completion. Caddis has also made an equity investment in the property, along with several physician tenants.
BALTIMORE CITY, MD. — Timonium, Md.-based Trout Daniel & Associates has arranged a sale-leaseback of the 74,289-square-foot Baltimore Behavioral Health (BBH) campus, located at 1001, 1021 & 1101 West Pratt St. in Baltimore City. Steven Cornblatt and Matthew Melnick of Trout Daniel represented BBH, the seller, in the sale and leaseback. BBH leased 36,000 square feet of space. The buyer was West Pratt Street Holdings, which leased 38,289 square feet to the University of Maryland.
FOSSTON, MINN. — Minneapolis-based Kraus-Anderson Construction Co. has completed the 17-month, $4.6 million renovation of the Essentia Health facility, located at 900 Hilligoss Blvd. SE in in Fosston. The project included the construction of a new main building entry, lab relocation and expansion and a new surgery suite addition. It also includes a new registration and waiting area for the combined clinic and hospital. The project architect is St. Paul-based Pope Associates.
PEORIA, ILL. — New York-based American Realty Capital Healthcare Trust has paid $32 million for two acquisitions, including Methodist North Medical Office Building in Peoria. The company secured a ground leasehold interest in the three-story outpatient center in Peoria for $24.6 million. It also paid $7.4 million for a ground leasehold interest in a medical office building at the Odessa Regional Medical Center in Odessa, Texas. The two properties total 112,522 square feet. The Peoria property is fully leased to Methodist Services Inc., which holds two leases that expire in January and February 2025. The ground lease expires in July 2058 and includes two 25-year renewal options.
DALLAS — Arlington-based Ascension Group Architects has finished the $98 million expansion of Forest Park Medical Center, located at 11990 N. Central Expressway in Dallas. The expansion included three additions: a 125,000-square-foot surgical facility, a 138,000-square-foot facility connecting to the hospital through the lobby and a 780-vehicle parking garage with a covered walkway. Adolfson & Peterson Construction served as the general contractor.