BATON ROUGE, LA. — Lillibridge Ventas, a wholly owned subsidiary of Ventas Inc., is constructing a $40 million medical office building at the campus of the new $350 million Women's Hospital in Baton Rouge. The two-tower, 250,000-square-foot complex will house a comprehensive breast center, a maternal-fetal medicine center, infrastructure for an ambulatory surgery center, retail space and space for future outpatient services. Completion is scheduled for late 2012.
FORT HOOD — The U.S. Army Corps of Engineers has selected the Balfour Beatty | McCarthy joint venture, along with HKS Architects and Wingler & Sharp, to provide design-build services for the Fort Hood replacement hospital project. The $503 million, 944,000-square-foot facility will break ground in April 2011 and replace the 45-year-old Carl R. Darnall Army Medical Center. The state-of-the-art healthcare facility will be completed in May 2014; and a majority of the design and construction budget will be funded by the American Recovery and Reinvestment Act of 2009.
SAN DIEGO — Cassidy Turley BRE Commercial has handled the $63.5 million purchase of a 125,219-square-foot biomedical office building located at 4570 Executive Drive in the UTC submarket of San Diego. The four-story building is 100 percent leased to Bristol Myers Squibb, Amylin Pharmaceuticals and UCSD. Cassidy Turley’s Dave Odmark represented both the buyer, Biomed Realty Trust, and seller, San Diego-based LMC Executive Investment Co. LLC, in the transaction.
DURHAM, N.C. — Hines Global REIT has purchased the 327,10-square-foot Hock Plaza from Brickman Durham for an undisclosed price. The Durham medical office building, which was completed in 2004, is 99 percent leased to Duke University, Duke University Health System and a small retailer. Holliday Fenoglio Fowler represented Brickman in the transaction.
PFLUGERVILLE — St. David's HealthCare is working to develop a free-standing emergency care property that will feature 12 treatment beds and lab space. The facility will be located in Pflugerville's Stone Hill Town Center at the intersection of Texas 130 and Texas 45. Delivery is expected in early 2012. St. David's is developing another emergency property in Bee Cave, which will open early next year.
FALL RIVER, MASS. — HealthFirst, a nonprofit, walk-in medical clinic serving the Fall River community, has tapped Skanska USA to build its new health center. The project will consist of the conversion of a 78,000-square-foot former textile plant into a state-of-the-art health center. The project is primarily being funded from an $11.5 million grant from the U.S. Department of Health Resources and Service Administration. Completion is slated for 2011. HealthFirst currently operates out of a 10,000-square-foot space at 102 County St.
FLORIDA — Steve Ervin of Walker & Dunlop has secured $162.2 million in financing for a 16-property healthcare portfolio in Florida. The loan was financed through the HUD LEAN 232/223(f) program and is the largest HUD loan closed since 2005, according to a release. The 35-year loan carries a 4.95 percent interest rate and a 35-year amortization.
EXTON, PA. — Dunn Twiggar Co. has acquired a 50,000-square-foot medical office building in Exton. The property is located within Oaklands Corporate Center at 479 Thomas Jones Way. The Class B building was 62 percent occupied at the time of closing. Matt Macdonald of Dunn Twiggar Property Advisors represented the buyer. Bill Wilson and Phil Earley of Lieberman Earley & Co. represented the undisclosed seller. Dunn Twiggar will serve as property manager, and Grubb & Ellis will lease the remaining space.
BUFFALO GROVE, ILL. — Reed Construction has been selected to complete a 12,000-square-foot build-out for Northshore University HealthSystems Medical Group’s location in Buffalo Grove. Located at 650 Lake Cook Road, the project will include 24 exam rooms and three procedure rooms, as well as the addition of nursing stations, utility space, blood draw areas, and reception and waiting areas. Additionally, the project will feature a millwork package and new HVAC, electrical, plumbing and fire protection systems. Interwork Architects is providing architectural services for the project, which is scheduled for completion this fall. Integrated Facilities Solutions is providing representation for the property owner.
WEST PALM BEACH, FLA. — John Broussard, Douglas Mandel and Adam Kristol have represented both parties in the $5 million sale of the Century Village Medical Office. Located at 100-110 Century Blvd. in West Palm Beach's Century Village community, the office property spans 28,346 square feet. Tenet Healthcare and Walgreens rent 60 percent of the building.
