CHALFONT, PA. — BPG Properties, Ltd. has sold a 5.52-acre pad site located within the company’s New Britain Corporate Center in Chalfont to OrthopaediCare. The healthcare practice, which acquired the site for $3.2 million, plans to construct a 30,000-square-foot facility that will offer orthopedic care, as well as physical and occupational therapy, and x-ray facilities. Construction is slated to begin in October, with completion in May 2010. New Britain Corporate Center is a 62-acre, master-planned office campus located near the intersection of County Line Road and Route 202. It already contains a 70,000-square-foot, build-to-suit office building that was developed for Chrysler Financial Services; a 50,000-square-foot, multi-tenant office building; a medical building for Children’s Hospital of Philadelphia; a life care center; and a day care center. The project is approved for up to 465,000 square feet of construction.
DALLAS — A joint venture between Passco Companies Development and Stoneleigh Capital Partners has completed Coit Medical Center, a Class A medical office building located in Dallas. The two-story facility totals 31,964 square feet and is situated within the city’s Medical Corridor. Passco expects that once the property is stabilized it will be sold as an investment property.
FLORISSANT, MO. — BJC HealthCare has selected St. Louis-based Paric to lead the $6.8 million expansion project at Northwest HealthCare in Florissant. The project consists of a two-story, 40,000-square-foot medical office building addition to the current facility on Graham Road. Construction is expected to begin in late 2010. Design partners include BSA Lifestructures, KAI and Grimes.
GOLDSBORO, N.C. — Tri-South Investments has purchased a 5,577-square-foot medical office building from an undisclosed party in a sale-leaseback for $1.1 million. Located at 2802 McLamb Dr. in Goldsboro, the property houses the Wayne Radiology practice. Gary Lyons of Sperry Van Ness’ Raleigh, N.C., office represented the seller; Durham, N.C.-based Commercial USA’s Merle White represented the buyer.
NEW YORK CITY — NAI Friedland Realty has brokered the $5.19 million sale of 4401 Bronx Boulevard, a 40,000-square-foot building located in the Bronx, New York City. Also known as the Farrand Building, the facility is located in the North Bronx at the corner of Nereid Avenue. Rick Stassa of NAI Friedland represented both the buyer, Montefiore Medical Center, and seller in the transaction. The property had been operated by Our Lady of Mercy Medical as a rehabilitation center for substance abuse and counseling. Medical research had also been done at the building. Montefiore will continue to use the building in the same capacity.
BUFFALO GROVE, ILL. — Rosemont, Ill.-based McShane Construction Co. has completed a new Affinity Healthcare medical office building, located in Buffalo Grove. Situated on a 6.3-acre site within The Corporate Grove business park at 1450 Busch Pkwy., the single-story facility totals 64,680 square feet. A number of Affinity’s medical practice groups will occupy the facility; other tenants include Ear, Nose & Throat Center; Quest Diagnostics; Illinois Bone & Joint Institute; Northwest Suburban Urologists; Sanders Pediatrics; and WomanCare PC. The project architects were Marasco & Associates and Partners in Design.
CONROE, TEXAS — Mercan City Place Development, a division of D’Agostino Cos., has completed construction for a new 60,000-square-foot medical office building on behalf of Sadler Clinic. The project is located on a 54-acre medical campus at the intersection of Interstate 45 and League Line Road in Conroe. It consists of an urgent care center, support services and additional physician space. It is the 10th Sadler Clinic location in Montgomery County. D’Agostino and Sadler are currently finalizing plans for the construction of a second medical facility on the site. Jeff Beard of The J. Beard Real Estate Company represented both parties in the build-to-suit transaction.
DALLAS — Dallas-based Westmount Realty Capital has sold approximately 6.9 acres of land located at the Westmount Health Campus in Dallas for the expansion of the adjacent Forest Park Medical Center. Completed in March, the first phase of Forest Park Medical Center consists of a 66,000-square-foot specialty hospital. The buyer, Forest Park Realty Partners III, has the option to purchase an additional 3.8 acres for even further expansions. Sherwood Blount of Parkway Realtors represented Westmount Realty Capital Newt Walker of Newt Walker Co. represented Forest Park Realty Partners III. Westmount originally acquired the 27-acre Westmount Health Campus, located at the intersection of the North Central Expressway and Forest Lane, in 2006. After this deal, 7.5 acres of the original tract remain for sale.
PALESTINE, TEXAS — Dallas-based The Cirrus Group has closed on a $5 million loan for the construction of a new medical office building located in Palestine. The facility will be located on Willow Creek Parkway near Loop 256 and will total 28,000 square feet. It will be anchored by an ambulatory surgery center that will feature 2 operating rooms and two procedure rooms. Additional space at the facility will contain physician offices. Construction is expected to take 7 months. The project architect is Bryant Burton Kupcunas Architects and the genera contractor is Hill & Wilkinson. The facility will be operated by Springfield, Mo.-based Medical Consulting Group. Cirrus arranged the loan on behalf of the borrower, one of the company’s affiliates. The lender is Southwest Securities, FSB.
PAOLI, PA. — Bryn Mawr, Pa.-based WP Realty has sold Paoli West Professional Park, a multi-tenant medical office complex located at 15 and 17 Industrial Blvd. in Paoli. Situated on 1.3 acres, the property includes two two-story buildings totaling 19,237 square feet. It is located adjacent to Paoli Hospital and near Bryn Mawr, Phoenixville and Chester County Hospitals. Occupancy was 94 percent at the time of closing. Stephen Marzullo and Douglas Rodio of CB Richard Ellis negotiated the transaction. The buyer and the acquisition price were not disclosed.