REBusinessOnline

Rycore Capital Acquires 58,517 SF Medical Office Building in Houston

HOUSTON — An affiliate of locally based investment firm Rycore Capital has acquired Bellaire Medical Plaza, a 58,517-square-foot medical office building located near the Texas Medical Center in Houston. The sale included a 3.6-acre parcel for future development. Kevin McConn and Brian Bacharach of JLL represented the seller, Ridgeline Capital Partners, in the transaction. Matt Kafka and Cameron Cureton of JLL arranged acquisition financing on behalf of Rycore Capital. The property was 88 …

Montecito Acquires 12,294 SF Medical Office Building in Suburban Indianapolis

ZIONSVILLE, IND. — Montecito Medical has acquired a 12,294-square-foot medical office building in Zionsville, a northwest suburb of Indianapolis. The purchase price and seller were undisclosed. Completed in 2020 and fully leased, the building serves as the new location for a primary care provider in Zionsville. The asset is located at 10649 Bennett Parkway near I-465. The transaction marks Montecito’s fourth medical office asset that it has acquired in the

Thorofare Provides $13M Acquisition Loan for Medical Office Building in West Orange, New Jersey

WEST ORANGE, N.J. — Thorofare Capital has provided a $13 million bridge loan for the acquisition of a 70,000-square-foot medical office building in the Northern New Jersey community of West Orange. The property is located within a mile of a 577-bed hospital. The loan was structured with a five-year term and includes proceeds for tenant improvements and other capital expenditures. The borrower was an undisclosed institutional

Hanley Investment Group Arranges $9.8M Sale of Medical Portfolio in Indiana, Texas

INDIANA AND TEXAS — Hanley Investment Group Real Estate Advisors has arranged the sale of a four-property Fresenius Medical Care portfolio in Indiana and Texas for $9.8 million. The outpatient dialysis clinics are located in Auburn, Fort Wayne and Marion, Ind. as well as one in Dayton, Texas. Bill Asher, Jeff Lefko and Ed Hanley of Hanley Investment Group, in conjunction with ParaSell Inc., represented the seller, a Midwest-based private partnership. Brian Appel of Appel & Henick LLP …

Bristol Myers Squibb Signs 113,000 SF Life Sciences Lease Expansion in Boston

BOSTON — Bristol Myers Squibb has signed a 113,000-square-foot life sciences lease expansion at 250 Water St. at Cambridge Crossing, a 43-acre mixed-use project at the intersection of Cambridge, Somerville and Boston. The global pharmaceutical company is adding the remaining available space to its initial lease, which was announced in August of last year. Developer DivcoWest recently topped off the 480,000-square-foot building and expects to deliver it in

Blueprint Expands Platform into Medical Office Brokerage

CHICAGO — Chicago-based Blueprint Healthcare Real Estate Advisors has expanded its platform into medical office brokerage. Coinciding with the announcement is the addition of medical office veterans Eric Lee and Chris Lashmet to lead the practice. Known for its activity in the seniors housing and care space, Blueprint says the expansion is an effort to provide innovative advisory services to the healthcare sector while also best serving its core senior living clients. Blueprint’s medical …

IQHQ Begins Construction on $1B Fenway Center Life Sciences Project in Boston

BOSTON — IQHQ Inc., a developer of life sciences real estate with offices in Boston and San Diego, has begun construction on Fenway Center, a $1 billion project in Boston. IQHQ is co-developing the project with locally based firm Meredith Management.The initial phase of construction centers on the development of a 90,000-square-foot air rights deck that overlooks the Massachusetts Turnpike between Beacon Street and Brookline Avenue. The construction of the air rights deck will the largest …

NAI Partners Negotiates 25,288 SF Life Sciences Lease in Metro Houston

THE WOODLANDS, TEXAS — NAI Partners has negotiated a 25,288-square-foot life sciences lease for biotechnology firm Lexicon Pharmaceuticals at 2445 Technology Forest Blvd. in The Woodlands, about 30 miles north of Houston. Dan Boyles and Jon Silberman of NAI Partners represented the tenant in the lease negotiations. The duo also recently arranged the sale of Lexicon Pharmaceuticals’ former headquarters building in The …

Medical Coworking Space Can Bolster Office Occupancy

By Sunny Somaiya, co-founder, WellnessSpaceAs we navigate what working life and office spaces will look like in a post-pandemic world, one thing is certain — it will not be the same as before.With many companies realizing during the pandemic that their employees can be just as or even more efficient working from home, demand for office space is expected to remain low for the foreseeable future. Remote work will continue to be a popular option.[caption id="attachment_289215" …

Duke Health Opens $102.4M Behavioral Healthcare Facility in Durham

DURHAM, N.C. — Duke Health has opened a newly built center at Duke Regional Hospital in Durham that services behavioral therapy patients. The new center plans to combine the behavioral health services that had been offered separately at Duke University and Duke Regional hospitals. The facility, known as Duke Behavioral Health Center North Durham, cost $102.4 million to build.The Duke Behavioral Health Center North Durham project also includes an expansion of the hospital’s emergency …

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