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.
CORPUS CHRISTI, TEXAS — Corpus Christi-based NAI Cravey Real Estate Services has completed the leasing of the former CompUSA building, located at 5701 S. Padre Island Dr. in Corpus Christi. The 12,502-square-foot building will be occupied by SPID Corpus Development, which will operate a cancer facility at the site. Matt Cravey and Lynann Pinkham of NAI Cravey represented the landlord, 5701 So. Padre Island Drive LLC, in lease negotiations. Jaime Batten with the College Station, Texas, office of Keller Williams Realty represented the tenant. The building has been vacant since CompUSA closed in January 2008.
GREENSBORO, N.C. — Moses Cone Health System is awaiting state permission for a $208.5 million expansion project that would add 243,107 square feet to the Moses H. Cone Memorial Hospital in Greensboro. If approved, the project would break ground in 2011 and deliver in October 2015. The project, which is centered around the construction of a six-story tower, will also include the renovation of 87,000 square feet of existing space. Sixteen operating rooms on the hospital’s second floor will be expanded and renovated, and additional space will also be added to the emergency department.
DALLAS — Indianapolis-based Duke Realty Corp. has begun development of Baylor Cancer Center, a $154 million outpatient cancer treatment center located on the campus of Baylor University Medical Center in Dallas. The 10-story, 460,000-square-foot facility will be situated at the corner of Hall and Worth streets. It will feature cancer treatment services, clinical and physician space, oncology research, conference facilities and 250 underground parking spaces. It is already 93 percent pre-leased to Baylor Health Care System and US Oncology. The project, which is scheduled to break ground in this quarter, will be seeking LEED-Silver certification. Upon completion in 2011, it will be owned by a joint venture between Duke and Northwestern Mutual. Northwestern Mutual will own a majority stake in the venture, with Duke receiving development and leasing fees during the development and construction process. BremnerDuke Healthcare Real Estate, a division of Duke Realty, will manage the property upon completion. New York-based Savills arranged the $154 million joint venture capitalization on behalf of Duke.
GREENVILLE, S.C. — A joint venture between Charlotte, N.C.-based Flagship Capital Partners and Baltimore-based Alex. Brown Realty has purchased the 45,000-square-foot Eastside Medical Center from Hotzfam Trusts for an undisclosed amount. The property is located on Enterprise Boulevard in Greenville. Grandbridge Real Estate Capital’s Rob Vaughn arranged financing. Brannen Edge and Bill Transou represented Flagship in house, and the seller was represented by Colliers Keenan’s Bucky Tarleton, who works in the firm’s Greenville office.
NEW YORK CITY AND WEST LONG BRANCH, N.J. —Meridian Capital Group has arranged a total of $14.99 million in financing for to properties in New York and New Jersey. First, Zev Feder with Meridian’s New York office arranged $10.85 million in acquisition financing for four apartment buildings located on East 82nd Street on the Upper East Side of Manhattan. The six-story buildings contain a total of 106 residential units. Terms of the loan include a 5.62 percent fixed interest rate and a 9-year term. In West Long Branch, Max Beyderman and David Cohen of Meridian’s New Jersey office arranged $4.14 million in acquisition financing for a two-story, 57,500-square-foot medical office building located on Monmouth Road. Terms of the loan include a 6.5 percent fixed interest rate and a 5-year term.