TUCSON, ARIZ. — A joint venture between Vanbarton Group and Tramview Capital Management has purchased a three-property medical office portfolio, totaling 57,600 square feet, in Tucson. Terms of the transaction were not released. The portfolio was acquired through a sale-leaseback transaction with Banner Health, which will continue to lease and occupy each building.
PHOENIX — ViaWest Group has completed the disposition of Blackhawk Corporate Center, a three-building office and medical campus in Phoenix’s Deer Valley submarket. Big Sky Medical Real Estate acquired the asset for an undisclosed price. Built in 1997 and 1998, the 252,350-square-foot campus was 96 percent leased at the time of sale to a variety of office and medical users. Blackhawk Corporate Center is located at 20401 N. 29th Ave. and 2902 and 3010 W. Agua Fria Way, with immediate freeway visibility and accessibility from Interstate 17 and Loop 101 and a parking ratio of 5.33/1,000. Steve Lindley, Alexandra Loye, Eric Wichterman and Mike Coover with Cushman & Wakefield represented the seller in the deal.
GREENWOOD, IND. — JLL Capital Markets has arranged the sale of the Medical Behavioral Hospital of Indianapolis for an undisclosed price. The 64-bed, 42,609-square-foot inpatient behavioral facility is located in the Indianapolis suburb of Greenwood. Constructed in 2022, the property offers general acute care psychiatric services. It serves as the second location in Indianapolis NeuroPsychiatric Hospitals, a provider of inpatient behavioral health services with seven hospitals. There are 19 years remaining on the lease for the Greenwood facility. Mindy Berman, Brannan Knott and Vasili Davos of JLL represented the seller, Medistar, and arranged acquisition financing on behalf of the undisclosed buyer.
KANSAS CITY, MO. — Block & Co. Inc. Realtors has sold 2 E. 59th St. in Kansas City for an undisclosed price. Riley ABA & Autism Center purchased the 17,381-square-foot building with plans to occupy it. The building is set to undergo extensive renovations in the coming weeks. Riley ABA is planning for several new and interactive play areas, including a 1,000-square-foot play town to target play and social skills, a larger interior sensory gym for gross and fine motor development, and an outdoor, fenced-in playground. The facility will also feature ample parking, an employee break room with an outdoor patio, a large prep kitchen and several individual bathrooms. Riley ABA expects renovations to be completed by mid-summer 2024. David Block, Max Kosoglad and Carson St. Clair represented Block on an internal basis.
WEST PALM BEACH, FLA. — Colliers has brokered the $8.3 million sale of West Palm Medical Plaza, a medical office building located at 4700 N. Congress Ave. in West Palm Beach. The property is situated within walking distance of the HCA Florida JFK North Hospital. Mark Rubin, Bastian Schauer, Jake Stauber and Jared Mann of Colliers represented the seller, Triple Double Real Estate, in the transaction. The buyer, Orbvest, was not represented by a broker. The asset was fully leased at the time of sale.
WALL TOWNSHIP, N.J. — California-based design-build firm Ware Malcomb has completed a 30,000-square-foot healthcare project in Wall Township, located in coastal New Jersey. The project is a build-to-suit for The Arc of Monmouth, a nonprofit organization that serves individuals with intellectual or developmental disabilities. The facility features several specialty rooms for learning opportunities, including sensory rooms, quiet rooms, computer rooms, as well as a gym and three fully equipped kitchens.
SAN ANTONIO — Four healthcare users have signed leases totaling 35,877 square feet at Sunset at Treeline, a 64,644-square-foot medical office building in San Antonio’s Alamo Heights area. The tenants include FCC MSO (12,646 square feet), Sports Medicine Associates of San Antonio (11,036 square feet), Katherine Cornforth, MD, OBGYN (6,135 square feet) and Northeast OB/GYN (6,060 square feet). Chad Gunter of Transwestern represented the landlord, Casey Development, in all of the lease negotiations.
BELTON, TEXAS — Adolfson & Peterson (AP) Construction is underway on a 79,000-square-foot healthcare project in Belton, about 75 miles north of Austin. The two-story, 96-bed facility will be an expansion of the Cedar Crest Hospital & Residential Treatment Center and will include space for activity therapy, an outpatient clinic, gym and a new kitchen. AP Construction is also renovating the facility’s existing kitchen. Completion is slated for spring 2025.
NEW YORK CITY — Two healthcare users have signed leases totaling 10,300 square feet at Hutchinson Metro Center in The Bronx. North Bronx Orthopedic & Spine Group has committed to 5,121 square feet, and MJHS Health System has inked a deal for 5,179 square feet. The former was represented internally in the lease negotiations, and Bill Jordan of CBRE represented the latter. Simone Development Co. owns Hutchinson Metro Center.
ELOY, ARIZ. — Exceptional Healthcare has acquired 10 acres in Eloy, approximately midway between Phoenix and Tucson. The company plans to develop a hospital on the site to serve the growing community and surrounding areas. Walton International Group sold the site for $1.1 million. The planned hospital, located at the northeast corner of Interstate 10 and Sunshine Boulevard, will have eight inpatient rooms, an 11-room emergency department and a wide range of medical services. A groundbreaking ceremony will be held on Jan. 24, with a planned opening in late 2024.