PLAINSBORO, N.J. — Sweetwater Construction Corp. has started construction for the New Merwick Care and Rehabilitation Center located in Plainsboro. The 105,000-square-foot project will consist of a cluster of buildings across 6 acres located at the new University Medical Center of Princeton, which is scheduled to open in 2011. The complex will contain 80 beds of sub-acute care and 120 beds of long-term care. The project will be replacing an existing 83-bed facility located at 79 Bayard Lane. Windsor Health Care will be developing the project and RMJM Architects will design it.
WELLINGTON, FLA. — Jupiter, Fla.-based Rendina Cos. has completed work on Wellington Regional Medical Center’s 50,000-square-foot Wellington Medical Arts Pavilion IV in Wellington. Building tenants include OB/GYN Specialists of the Palm Beaches, Palm Beach Brain and Spine, Pediatric Center of Wellington and Advent Family Practice. The four-story property was designed by Nashville, Tenn.-based Davis Stokes Collaborative.
WEST ORANGE, N.J. — The New Jersey office of FirstService Williams has brokered a lease for 13,776 square feet at Mt. Pleasant Medical, a medical office building located in West Orange. The Urology Group of New Jersey will take occupancy of the space in November for a 12-year term. Situated on 11 acres at 375 Mt. Pleasant Ave., Mt. Pleasant Medical contains 106,000 square feet of medical office space. Frank Gunsberg of FirstService Williams represented the landlord, 375 Mt. Pleasant Avenue LLC, a joint venture between Hampshire Real Estate Cos. and Paragon Realty Group. John Feeney of Studley represented the tenant.
BOSTON — BioMed Realty Trust has closed on a $350 million loan. The proceeds of the loan were used to repay a portion of an existing $507.1 million loan for the construction of The Center for Life Science | Boston. The newly constructed facility encompasses 700,000 square feet and is located in the city’s Longwood Medical area. The 5-year loan was provided by John Hancock Life Insurance Co., TIAA-CREF and Westdeutsche ImmobilienBank AG. The loan bears a 7.5 percent interest rate.
PALO ALTO, CALIF. — Veterans Affairs Palo Alto Health Care System is breaking ground for the development of an 80-bed Inpatient Mental Health Center in Palo Alto. The 76,000-square-foot facility will include a mental health research and office pavilion; a utility complex; enclosed, landscaped gardens; and natural light sources for all internal patient and staff areas, as well as private and semi-private rooms with private bathrooms. Upon completion, all inpatient beds will operate in the new facility, which will house four units consisting of 20 beds each. McCarthy Building Companies is serving as general contractor for the project, which was designed by Design Partnership. Completion is scheduled for 2011.
RICHMOND, TEXAS — The Healthcare Division of McShane Development Co. is advancing construction for OakBend Doctors Center — Grand Parkway, a medical office building located in Richmond. The project consists of a two-story, 60,000-square-foot building situated on Grand Parkway, between Morton Road and Longmeadow Farms Parkway. The Class A facility will provide office space convenient to both OakBend Medical Center campuses, one of which is currently under construction. McShane has already secured leases for approximately 50 percent of the space. Physician group OakBend Medical Group will occupy 2,500 square feet; PLEX will lease 7,200 square feet for a sports medicine and physical therapy center; Texas Sports Medicine will lease 7,400 square feet for an ambulatory surgery center; OakBend Medical Imaging will lease 3,000 square feet for a radiology center; and the Center for Women’s Health will lease 3,000 square feet that will contain an on-site pharmacy and a 24-hour urgent care clinic. The Houston office of Cadence McShane Construction Co. is providing design-build services for OakBend Doctors Center, with Denver-based Marasco & Associates providing conceptual design and space planning services, and Houston-based Seeberger + Associates serving as architect of record. Completion for the project is slate for late 2009. McShane …
OMAHA, NEB. — Darland Construction Co. has been selected to build a new 13,886-square-foot ambulatory surgery center. Bergan Mercy Surgery Center will be located within the new South Pavilion addition of Bergan Mercy Medical Center, which is located in Omaha. The surgery center will be built out while the building is still under construction. The project is a joint venture between Alegent Health and a physicians group represented by Health Inventures, LLC. The architect for the project is Boulder Associates Architects. The construction timetable was not released.
MILWAUKEE — Lee Realty & Development has purchased a 6,530-square-foot medical office building, located at 7100 West Capitol Dr. in Milwaukee from Marbe LLC. Pete Slezak of Colliers Barry represented the seller and Thai Lee of Moreways Realty represented the buyer in the transaction.
SANTA FE, N.M. — Supportco Properties has purchased Physicians Plaza of Santa Fe, a 50,468-square-foot medical office building located at 1631 Hospital Dr. in Santa Fe. The two-story multi-tenant property sold for $13.8 million or $273 per square foot. John Smelter of Marcus & Millichap represented the buyer. Smelter and Sam Medford, also of Marcus & Millichap, represented the seller, Santa Fe MOB, in the transaction.
WEST ORANGE, N.J. — The New Jersey office of FirstService Williams has completed the sale of a 22,524-square-foot medical office condominium, located at 375 Mt. Pleasant Ave. in West Orange. The condo is situated within the 11-acre former headquarters of Organon, which is in the process of being redeveloped into a 106,000-square-foot medical office project. It was purchased by New Jersey Cardiology Associates (NJCA), which will use the space for its cardiology practice. NJCA is the project’s first tenant. The seller was 375 Mt. Pleasant Avenue LLC, a joint venture between Paragon Realty Group and Hampshire Cos. FirstService Williams represented both parties in the transaction.