GEORGETOWN, TEXAS — Groundbreaking has occurred for the first phase of Austin Avenue Professional Plaza, a medical office complex located at 3201 S. Austin Ave. in Georgetown. Phase I will consist of a three-story, 95,000-square-foot building. The project was designed by San Antonio-based Beaty Palmer. The project is already 70 percent pre-leased by a tenant roster that includes Austin Radiological Associates, Clinical Pathology Labs, Gallagher’s Pharmacy, Georgetown Medical Clinic, Urology Associates, Foot Associates of Central Texas, Austin Gastroenterology, Central Texas Surgical Associates, Georgetown ENT and Georgetown Plastic Surgery. Other tenants will include internal medicine, neurosurgery and an urgent care clinic. The building will also contain space for a bank, a café or convenience store and ancillary services. Completion is scheduled for the end of 2009 or the beginning of 2010. The second phase of the project will include the construction of a second 60,000-square-foot building.
NEWARK, N.J. — Marcus & Millichap has arranged the sale of a 24,000-square-foot medical office building located in Newark. The single-tenant property traded for a price of $3.4 million. Alan Cafiero and Ben Sgambati of Marcus & Millichap’s New Jersey office represented both undisclosed parties in the transaction.
ATLANTA — Atlanta-based Choate Construction Co. has begun work on a 33,000-square-foot expansion to the Shepherd Center, located at 2020 Peachtree Rd. in Atlanta. The interior build out of the fifth-floor wing will be able to house an additional 35 patient rooms and staff support space. Completion is expected in June.
AUSTIN, TEXAS — Austin-based Texas Realty Capital has arranged $22.7 million in permanent financing for Austin-Mueller Healthcenter, a medical facility located in Austin. The loan carries a 7-year term and a fixed interest rate. It was arranged on behalf of the undisclosed borrower through Appleton, Wis.-based Thrivent Financial for Lutherans.
HELENA, MONT. — Chicago-based Lillibridge has completed the development of St. Peter’s Medical Group, an 80,000-square-foot medical office building in Helena. Located on the campus of St. Peter’s Hospital, the $15 million project houses the hospital’s primary care clinics, including Family Health Clinic, Hawkins-Lindstrom Clinic, Internal Medicine Associates and Medical Specialists of Helena. The building features in-house laboratory services, digital X-ray services, an outpatient pharmacy, administrative office space and a pneumatic tube to the main hospital building.
BUFFALO GROVE, ILL. — Rosemont, Ill.-based McShane Construction Co. is providing construction services for ASA Properties’ Affinity Healthcare medical office building located at 1450 Busch Pkwy. in Buffalo Grove. The 65,000-square-foot facility, which is slated for completion in August, will be situated on a 6.3-acre site within the Corporate Grove business park. Affinity Healthcare’s medical practice groups that will be housed at the facility include Diagnostic Imaging; Immediate Care; Ear, Nose & Throat Center; Illinois Bone & Joint Institute; Northwest Suburban Urologists; Sanders Arlington Pediatrics; and WomanCare. Additionally, the single-story facility will support clinical services, including diagnostic services and physical therapy. As part of the project, McShane will complete site work, landscaping and a parking area for 315 vehicles. Marasco & Associates and Partners in Design are providing architectural services and space planning for the Class A building. The estimated cost of completing the project was not disclosed.
PLAINSBORO TOWNSHIP, N.J. — Turner Construction Co. has been selected to build a $441 million replacement hospital for University Medical Center at Princeton, located in Plainsboro Township. The 636,000-square-foot facility will be constructed over the next 3 years. It will contain 269 beds, 10 surgical suites, full-service diagnostics, cardiac labs and radiation oncology with linear accelerators, as well as ancillary and support space.
MURPHY, TEXAS — Dallas-based Henry S. Miller Brokerage (HSMB) has arranged the purchase of an approximately 2-acre land parcel located at 615 FM 544 in Murphy. The site had originally been zoned for residential use, but it was recently rezoned for office/retail development. The buyers, Dr. Deepika Minnal and Dr. Ramarao Lankipalli, plan to initially construct a 5,000 to 6,000-square-foot medical office building on the property. Later construction will include three to four additional buildings ranging in size from 5,000 to 10,000 square feet. A pediatric practice and a cardiology practice plan to lease space in the first building once construction is complete. HSMB’s Matt Anding represented the buyers. The seller, Andy Bugh, was represented by Doug Carignan of Jones Lang LaSalle.
FLORHAM PARK, N.J. — Atlantic Health has announced plans to develop a four-story, 100,000-square-foot medical facility at The Green at Florham Park, a 268-acre master-planned project that is being developed in Florham Park by a joint venture between Rockefeller Group Development Corp. and Roseland, N.J.-based The Gale Real Estate Services Company. Called Atlantic Sports Health Institute, the facility will specialize in sports medicine. It is located adjacent to the training facility for the New York Jets and is located between Morristown Memorial Hospital in Morristown, N.J., and Overlook Hospital in Summit, N.J.—both of which are owned by Atlantic Health. Construction is scheduled to begin in mid-2009 with completion expected in mid-2010.
DALLAS — The Dallas office of Cadence McShane Construction Co. had broken ground for the construction of 10740 Medical Office Building, a Class A medical property located at 10740 North Central Expressway in Dallas. The four-story property will total 92,000 square feet; it will feature an ambulatory surgery center on the fourth floor, and medical office space on the bottom three floors. The project was designed by Marasco & Associates and Alliance Architects. Completion is scheduled for December. Three leases have already been signed for the building. Ophthalmology Surgery Center of Dallas has leased the entire 25,000-square-foot fourth floor. In addition, The Glaucoma Associates of Texas and The Cornea Associates of Texas have each leased 10,000-square-foot suites.