DECATUR, GA. — Grubb & Ellis Healthcare acquired Decatur Medical Plaza, a 43,000-square-foot, three-story building located at 200 E. Ponce De Leon Avenue in Decatur. The property, which was renovated in 2007, is composed of four units, which are all currently leased. Stewart Calhoun of Cushman & Wakefield’s Atlanta office represented the buyer.
INDIANAPOLIS — Grubb & Ellis Healthcare REIT has acquired Medical Portfolio 3, a 689,000-square-foot collection of 13 healthcare-related properties encompassing 20 buildings throughout Indianapolis. The portfolio is anchored by Clarian Health Partners, which leases approximately 325,000 square feet of space throughout nine of the properties. Medical Portfolio 3 was acquired from HCP Inc. for an undisclosed amount. Financing for the acquisition was provided by Fifth Third Bank and through the utilization of the Grubb & Ellis Healthcare REIT line of credit.
KIRKWOOD, MO. — On behalf of a group of independent physicians, St. Louis-based ARCO Construction Co. has completed the $3 million Copia Medical Office Building located at 816 S. Kirkwood Rd. in Kirkwood. The two-story, 25,000-square-foot facility, which is situated on a 2-acre site, will house eight physician practices including an asthma and allergy specialist, an obstetrician, and a gynecologist. Each practice contains a private reception and waiting area. Ross Baruzzini designed the building, which features a brick exterior accompanied by 20 two-story curtain wall panel windows.
WESTWOOD, N.J. — The Hampshire Companies has acquired a 33,000-square-foot medical office building located at 400 Old Hook Rd. in Westwood. Situated on 1.23 acres, the facility was 80 percent occupied at the time of closing. The building is located less than a mile from the former Pascack Valley Hospital, which is currently being converted into a medical school. Cushman & Wakefield represented Hampshire in the transaction. The property was acquired from Life Key Ventures on behalf of Hampshire Partners Fund VII, Hampshire’s institutional real estate investment fund. The acquisition price was not disclosed.
AUSTIN, TEXAS — Chicago-based Beacon Realty Capital has arranged $10.98 million in construction/mini-permanent, variable-rate financing for a medical office building located in Austin. The loan includes a 3-year term with two 1-year extensions and an interest-only component. The short-term financing was arranged with an undisclosed national bank. The borrower was not disclosed.
TERRE HAUTE, IND. — Thompson Thrift has completed the sale of a 9,020-square-foot medical office facility and an approximately 1-acre vacant lot adjacent to the property located at 227 E. McCallister Dr. in Terre Haute. Terre Haute Surgical Center leases the single-tenant building as the St. Vincent Surgery Center of Terre Haute. The seller was represented by Jeff Wright of Thompson Thrift; the buyer, Terre Haute Medical Clinical Facility LLC, negotiated the transaction in-house. The acquisition price was not disclosed.
SAN ANTONIO AND HOUSTON — NAI Houston has brokered two Texas sales. In San Antonio, Trent Siskron of the company arranged the sale of a 50,814-square-foot, single-tenant medical office building located at 400 Concord Plaza Dr. Known as The Orthopedic Institute, the property also contains an outpatient surgery center. Siskron represented the seller, Mallard San Antonio, as well as the buyer, Blauners Ortho Institute. In Houston, Siskron and Jeffrey Barbles, also of NAI Houston, represented both parties in the purchase of a 30,000-square-foot industrial building located at 7007 Belgold St. The property was acquired by Babson Belgold Property from JCW Belgold. The acquisition prices in both transactions were undisclosed.
KERMIT, TEXAS — Arlington, Texas-based Ascension Group Architects and Dallas-based Ray F. Skiles Co. have completed the first phase of the $13.1 million construction of a new hospital in Kermit. The new 34,000-square-foot hospital, which will replace the existing Winkler County Memorial Hospital, will contain 10 patient rooms, including nine semi-private rooms and an isolation room; and an emergency department that will include multiple private exam rooms, two trauma rooms and triage. All but 6,600 square feet of the hospital will consist of new construction; the remainder will be renovated and used for hospital support functions. Phase II construction has already begun and will include space for physical therapy, administrative offices, medical records, material management and dietary services. Completion is scheduled for December.
TUCSON, ARIZ. — Grubb & Ellis Healthcare REIT has purchased Academy Medical Center, a four-story medical office building in Tucson. Located at 310 N. Wilmot Rd., the 41,000-square-foot building is 94.5 percent leased to numerous tenants including Healthsouth Surgery, Laboratory Corporation of America and Academy Dental Care. This is the third site acquired by Grubb & Ellis Healthcare REIT in the Tucson area. Braxton Glass of E.B.S. & Associates represented the seller, an unaffiliated third party, in the transaction. Funding for the acquisition was primarily provided by Wachovia Financial Services Inc.
SAN ANTONIO — North Carolina-based Oaks Development Group has closed on the land sale for the development of a 95,000-square-foot, Class A medical office building. The new building will be situated on 7.9 acres in the Westover Hills neighborhood of San Antonio; it is part of a mixed-use project currently under development by Great American Co. that also will include a Staybridge hotel, restaurants and retail. Completion of the medical office building is expected in the first half of 2009. Tenants already signed on include Alamo Medical Group and Urology San Antonio; an MRI facility is being planned for the first floor. Sarah Teel of MSL Investments represented Oaks Development in the land purchase, and will handle leasing of the building.