FLORHAM PARK, N.J. — NorthMarq Capital has closed $9 million in construction-to-permanent financing for a 55,000-square-foot medical office building located in Florham Park. NorthMarq was able to secure a 2-year term with a sub-5 percent interest rate, no floor and interest-only payments with minimal guarantees. At stabilization, the loan rolls into a 5-year term with a fixed rate. The borrower was undisclosed and the lender was a regional bank.
POCATELLO, IDAHO — Ascension Group Architects was recently selected to provide design-build services for the $150 million replacement hospital for Portneuf Medical Center in Pocatello. The project consists of a new six-story addition to the east campus of the medical center along with interior renovation throughout the existing facility. Construction will include 187 beds, 320,000 square feet of new construction and 37,000 square feet of renovated space. When complete in mid-2011, the facility will house an intensive care unit, a cardiovascular intensive care unit, medical/surgical beds, obstetrics, a nursery, a neonatal intensive care unit, pediatrics, psychiatry, a surgical suite, an endoscopy suite, rehabilitation and an emergency department. Additionally, the expansion will include a two-story lobby and atrium, a dining room, a coffee shop, a central plant, and a helipad and hanger. Layton Construction is serving as general contractor for the project. Portneuf is owned by a joint venture between Portneuf Health Care Foundation Inc. in Pocatello and Plano, Texas-based Legacy Hospital Partners Inc.
STOCKBRIDGE, GA. — Tri County Pediatrics has purchased a 7,500-square-foot medical office condominium from SFA Enterprises for $1.5 million. Located at 193 N. Park Trail in Stockbridge, the condominium is part of a 15,000 square foot, Class A medical building. Edward Jones of Atlanta-based Bull Realty brokered the transaction.
DOWNEY, CALIF. — McCarthy Buildings Companies Inc., serving as design-build general contractor, has completed the construction of Kaiser Permanente Downey Medical Center, a $385 million replacement hospital located in Downey. Located at the corner of Imperial Highway and Bellflower Boulevard, the 650,000-square-foot facility replaces the existing Kaiser Permanente Bellflower Medical Center, which will be converted to an outpatient facility. The 352-bed hospital features an inpatient care diagnostic and treatment center; critical care and acute care nursing; inpatient and outpatient surgery; a labor, delivery, recovery and postpartum unit; pediatric services; and a neonatal ICU. HMC Architects provided architectural services for the project.
AURORA, ILL. — Leopardo has completed construction for a 12,400-square-foot expansion to the intensive care unit (ICU) at Rush-Copley Medical Center in Aurora. The $5.2 million project includes the addition of 14 new rooms to the ICU’s existing four rooms, as well as the replacement and upgrade of the area’s mechanical, electrical and plumbing systems. In addition, new medical gas work was completed, new equipment was installed and new finishes were added. Leopardo served as general contractor and Anderson Mikos Architects provided design services.
MIAMI – Fort Lauderdale, Fla.-based Pasquale Kuritzky Architecture will provide architectural services for a 12,000-square-foot renovation and expansion of CAC-Florida Westchester, a Miami medical office building owned by CAC-Florida Medical Centers. The two-story property, located at 8686 N.W. 24th St., will undergo a complete interior renovation, and new office spaces will be added on the ground floor. The interior will also feature main and secondary waiting areas, triage areas, an X-ray section, administrative offices and lounges. Construction will begin in August with completion set for spring 2010.
RANCHO BERNARDO, CALIF. — Newmark Realty Capital has arranged $3.1 million in financing for Bernardo Medical Office Building, which is located on Bernardo Center Drive in Rancho Bernardo. The 33,970-square-foot facility is occupied by medical and dental tenants. James Dick of Newmark’s Irvine, Calif., office secured the 15-year-loan for the borrower, Gilbert Martin Trust, through a San Diego-based credit union.
WESTLAKE VILLAGE, CALIF. — Westlake Medical Center LLC has completed $1 million in renovations for Westlake Medical Center, which is located at 32144 Agoura Rd. in Westlake Village. The two-story, steel-frame building offers 30,000 square feet of medical/dental space. Tony Principe, Darin Arrasmith and Aaron Guerrero of Westcord Commercial Real Estate Services is marketing the property.
ST. PETERSBURG, FLA. — Marcus & Millichap has brokered the sale of 38th Avenue Medical Center in St. Petersburg for $2.61 million. St. Petersburg-based investors acquired the property from the undisclosed seller. Located across the street from St. Petersburg General Hospital, the 18,204-square-foot property houses nine offices ranging from 1,372 square feet to 2,812 square feet. Jeffrey Spilman and Michael Harris of Marcus & Millichap represented the sellers in the transaction.
HARRISON, N.J. — Sweetwater Construction Corp. has begun construction on the Harrison Endo Surgical Center located at 620 Essex St. in Harrison. The 9,500-square-foot state-of-the-art retrofit will occupy part of the third floor of the 43,000-square-foot building, which also houses medical offices, a dialysis center that is part of a national chain, a school for allied health professionals and a day care/preschool facility. The surgical facility will include two operating rooms and two endoscopy procedure rooms. The facility was designed by Nadaskay Kopelson Architects of Morristown, N.J. AMCOR LLC will be managing the facility upon completion in August.