MIDDLEBURG HEIGHTS, OHIO — Gregory West of Colliers Ostendorf-Morris has brokered the sale of Middleburg Heights Med Arts buildings One and Two, which are located at 18660 E. Bagley Rd. in Middleburg Heights. Buildings One and Two total approximately 65,000 square feet, and were opened in 1977 and 1984, respectively. Fairlawn, Ohio-based Crescendo Commercial Realty purchased the buildings from Middleburg Heights Medical Arts Center Ltd. for $4.1 million.
NORFOLK, VA. — Lauth has secured $70 million in financing for the 195,890-square-foot Fort Norfolk Plaza and is eyeing an April 2010 completion date for the healthcare project. Located on Brambleton Avenue in Norfolk, the project is a joint venture partnership between Lauth and Dr. Keith H. Newby, Sr. Tenants in the building include Sentara Medical Group, which is leasing 65,000 square feet, and Dr. Newby’s Cardiology Arrhythmia Consultants, which will occupy 22,000 square feet. The property will be connected to a 904-space parking deck. Financing comes from the New Markets Tax Credit program, Bank of America and SunTrust.
SCOTTSDALE, ARIZ. — PG&J Properties LLC has acquired a medical office building, which is located at 9745 N. 90th Pl. in Scottsdale. Scottsdale Medical Building LLC sold the property for $1.9 million or $326 per square foot. The buyer, a group of doctors, plans to relocate to the building, which was 35 percent occupied at the time of acquisition. Eric Tollefson of Ensemble Devman Group represented the buyer; Ray Harris of Grubb & Ellis|BRE Commercial represented the seller in the transaction.
WAUKESHA, WIS. — The Milwaukee office of CB Richard Ellis has brokered the sale of a 4.24-acre parcel located at 400 Merrill Hills Rd. in Waukesha. Health Care REIT has purchased the property from an undisclosed seller in order to develop a 66,000-square-foot care center for Alzheimer’s patients. The facility, which will house 111 people, will be constructed on the west side of Merrill Hills Road, just south of Fiddlers Creek Drive. Paul Povlick of CB Richard Ellis brokered the transaction. The acquisition price was not disclosed.
SAN ANTONIO — The Texas office of Oaks Development Group has completed Shavano Oaks II, a 35,000-square-foot medical office building located at 3603 Paesanos Parkway in San Antonio. The property features a unique ownership model in which ownership is split amongst tenants, equity investors and the developer. Tenant owners already signed include Neurology Institute of San Antonio and Spine & Pain Center of San Antonio. Additional plans include offices for physical therapy, a sleep clinic and an imaging center. Locally based MSL Investments, which is handling leasing for the building, has signed leases or letters of intent for 85 percent of the building to date. The projects marks Oaks Development’s third project in San Antonio.
NORTH RIDGEVILLE, OHIO — Comprehensive Healthcare of Ohio has purchased 24 acres of land located on the north side of Lorain Road, between Interstate 480 and the Ohio Turnpike, in North Ridgeville. The property will house a new healthcare and emergency room facility, which is expected to break ground in the fourth quarter of 2009. Local developer Don Mould sold the property to Comprehensive Healthcare of Ohio for $3.5 million. Mike Petrigan of Grubb & Ellis represented the buyer in the transaction.
KISSIMMEE, FLA. — Lillibridge is planning on a fall 2009 completion date for an 85,000-square-foot medical office building adjacent to Florida Hospital Kissimmee. Located at 2450 N. Orange Blossom Trail in Kissimmee, the three-story property will house an outpatient imaging center and orthopedic and OB/GYN groups. Covered walkways will connect the building to the hospital, and a two-story atrium will be built at the main entrance.
ORLANDO, FLA. — Chicago-based Lillibridge is currently developing the 60,000-square-foot Surgical Medical Plaza and will welcome a 12,000-square-foot ambulatory surgery center as the anchor tenant. The medical office building sits on East Orlando Hospital’s campus at 7727 Lake Underhill Rd. in Orlando. Tenants will include doctors with a mix of medical specialties. Delivery is expected next fall.
BRANDON, FLA. — RHK Properties has purchased 1.34 acres of land in the Eichenfeld Oaks Medical Center from Lang Environment Management and Resources for $810,000. RHK plans to build a 9,000-square-foot medical facility to be anchored by a national medical services tenant. Tampa, Fla.-based Andretta Marsh Properties’ Jack Brubaker and Bill Besselieu represented the seller.
BOSTON — The Boston and Dallas offices of Holliday Fenoglio Fowler (HFF) have secured $13.7 million in financing for 147 Milk St., a 52,337-square-foot medical office building located in Boston’s Financial District. The 10-story property, which was constructed in 1910 and renovated in 1984, is fully leased to Harvard Vanguard Medical Associates. Todd Armstrong and Janet Krolman arranged the fixed-rate loan on behalf of Lexington Realty Trust with Delaware Investments. Terms of the financing were not disclosed.