CHICAGO — Reed Construction has completed a 25,000-square-foot renovation for the Fertility Centers of Illinois. The project included the demolition and replacement of drywall and flooring, and extensive millwork and painting. The facility now offers a renovated waiting area and nurse stations, an enhanced IVF lab, additional physician offices, ultrasound and on-site labs and a Third Party Reproduction facility. Atul Karkhanis Architects provided architectural services for the project.
TROY AND ROCHESTER HILLS, MICH. — New York-based Savills has arranged $66 million in financing for two medical office buildings in Michigan and one medical office property in Louisiana. The Michigan properties include a 100,000-square-foot building on the campus of Beaumont Hospital in Troy and a 95,000-square-foot health and wellness center in Rochester Hills. The third property is a 99,000-square-foot medical office building located on the new replacement campus for Our Lady of Lourdes Regional Medical Office in Lafayette, Louisiana. In total, the properties are 95 percent leased. Milwaukee-based Landmark Healthcare Companies LLC owns the three properties. Savills arranged the permanent, fixed-rate financing through GE Capital, Healthcare Financial Services.
NEW YORK CITY — Reaity House has broken ground for a new substance abuse outpatient treatment facility and community residence for veterans in Queens. The three-story, 21,000-square-foot building will be built at 8-13 Astoria Blvd. and will contain 30 beds. Completion is expected in early 2012. NobleStrategy is providing construction management services.
YUMA, ARIZ. — Marcus & Millichap has presided over the $2.02 million trade of the 7,600-square-foot DaVita Dialysis Center, located at 7179 East 31st Place in Yuma. The single-tenant, net-leased property is situated less than one mile from the 382-acre Cielo Verde master-planned development. Marcus & Millichap’s Jamie Medress, Mark Ruble and Chris Keenan represented both the buyer and the seller, a limited-liability company, in the transaction.
LOS ANGELES — Lee & Associates-LA North/Ventura has managed the $3.1 million trade of a 47,846-square-foot property, located at 5651 Sepulveda Blvd. in the Van Nuys area of Los Angeles. The buyer, Osteon Enterprises LLC, is an orthopedic practice that specializes in spinal injuries. Lee & Associates’ Randy Kobata and Jack Schlaifer represented both the buyer and the seller in the transaction. The San Fernando Valley physician will relocate to and expand his practice at the new site, as well as lease a portion of the new facility to other tenants.
ST. PAUL, MINN. — St. Louis Park, Minn.-based RJM Construction is renovating the 18,000-square-foot Toogood building, which is located at 2230 Como Ave. in St. Paul. Purchased by The Emily Program in 2010, the building is being converted to provide residential and outpatient treatment for teens with eating disorders and their families. The facility will include living quarters with five bedrooms, group counseling rooms, exams rooms and staff offices. 292 Design Group is providing architectural services for the project, which is scheduled for completion in July.
TAUNTON, MASS. — The groundbreaking ceremony has been held for Myles Standish Medical Center, a new Class A medical building located in Taunton. The three-story, 33,420-square-foot building will be constructed at the entrance to Myles Standish Industrial Park. Completion is scheduled for this fall. Commitments have already been received for 25 percent of the building's space. Cranston, R.I.-based A. Autiello Construction is providing design-build services, and Boston-based NAI Hunneman is leasing the building.
NEW YORK CITY — Cronheim Mortgage has arranged a $21.9 million loan for a 120,000-square-foot medical office building located on 32nd Street, between 3rd and Lexington avenues, in New York City. The 12-story building is fully occupied; its main tenant is Ameripath, a division of Quest Diagnostics, which occupies several floors and has a separate 24-hour secured entrance. The loan carries a 4.62 percent fixed rate with interest-only payments for the first 2 years of the 10-year loan and a 30-year amortization schedule thereafter. The lender was an insurance company. Andrew Stewart and Dev Morris of Cronheim arranged the financing.
WATERTOWN, N.Y. — NorthMarq Capital has arranged a $4.5 million first mortgage for Watertown Medical Building, a 47,500-square-foot medical office building located at 826 Washington St. in Watertown. The lender was Sun Life Assurance Co.; the terms of the loan were not disclosed. Michael James of NorthMarq's Upstate New York office arranged the financing on behalf of the undisclosed borrower.
SCHAUMBURG, ILL. — Leopardo, serving as general contractor, has completed the construction of a 53,000-square-foot medical office headquarters building for Barrington Orthopedic Specialists and Sports Medicine. Located at 929 W. Higgins Road, the two-story building features procedure rooms with recovery bays, a 1,400-square-foot conference room with commercial kitchen, and physical therapy, work hardening and work conditioning areas, MRI and physician office areas. The project also included a parking lot and landscaping. Tinley Park, Ill.-based Arete-Knight, a division of Knight E/A, provided architectural services for the project, which was completed in 11 months.