Goose Creek, S.C. — The Charleston-based Medical Society of South Carolina has acquired 66 acres of land in Goose Creek for a medical office building and future medical services from Charleston-based Carnes Crossroads Associates, for $9 million. The property is located at Highway 17-A and 176. Chris Fraser of Charleston-based Grubb & Ellis | Barkley Fraser represented the buyer, and Eric Meyer of Meyer Kapp and Associates represented the seller.
Healthcare
ROCKFORD, ILL. — Millennium Properties has arranged the sale by auction of the Northern Illinois Medical Arts building, a 48,000-square-foot medical office property located at 5668 E. State St. in Rockford. The property was sold by Stickmen LLC; it was acquired by State and Roxbury LLC, a joint venture involving OSF Healthcare System and Genesis Land Development & Brokerage. The acquisition price was undisclosed.
SUNNYVALE, TEXAS — Cottonwood Partners has begun development on Texas Regional Medical Center at Sunnyvale, which will be Sunnyvale’s first hospital. The hospital, which will be located on 29 acres at 231 S. Collins Rd., will span 117,000 square feet and will include 70 beds, 53 medical suites, six operating rooms, an emergency department with six treatment rooms, eight ICU beds and a women's center with labor-and-delivery suites and postpartum rooms. Construction is set to begin this month and is scheduled for completion by spring 2009. Rockwall Hospitals, a Cottonwood Partners affiliate, will manage the hospital upon completion. Arlington, Texas-based Ascension Group Architects designed the hospital and will oversee the construction, and Dallas-based Rogers-O'Brien Constructionis the general contractor for the project. Cottonwood Partners purchased the land from San Antonio-based Rick Sheldon Real Estate for an undisclosed amount. Cottonwood Partners represented itself in the transaction, while Mike Anderson of B.J. Anderson Co. represented the seller.
BROOKLYN, OHIO — Grubb & Ellis has negotiated the sale of Ridgepark Medical Center, a 70,000-square-foot, Class A medical office building located at 7575 Northcliff in Brooklyn, for $2 million. Terry Coyne of Grubb & Ellis represented the seller, Deaconess Community Foundation. The property was acquired by Mall Properties, which plans to reposition it.
OAK LAWN, ILL. — Leopardo Construction has completed the $30 million expansion of Advocate Christ Medical Center, located at 4440 W. 95th St. in Oak Lawn. The expansion added 90,000 square feet to the hospital, and included the addition of five operating rooms to the hospital’s existing surgical department; the addition of 20 new patient rooms to the Adult Surgical heart Unit; and a 245-seat clinical education auditorium and conference center. Other additions include a new testing laboratory, a central sterile department, a physician’s lounge, and a multi-phase renovation to the hospital’s neonatal and prenatal intensive care units. Leopardo served as general contractor for the project, with HDR providing design services.
COLUMBUS, OHIO — NAI Ohio Equities has arranged the sale of Ackerman Place, a 110,000-square-foot medical office building located at 700 Ackerman Rd. inside Columbus’ 315 Research and Technology Corridor. The building was recently repositioned, and includes tenants such as Wachovia Securities, Dynamic Medical Imaging and OSU Managed Health Care. Don Brokaw of NAI represented the undisclosed seller; NAI will also retain management and leasing responsibilities for the building. The acquisition price and the buyer were not disclosed. 315 Research and Technology Corridor is a 10,000-acre research complex that employees 17,000 people and receives more than $1 billion annually in research grants.
PLANO, TEXAS — BremnerDuke Healthcare Real Estate (BremnerDuke), a Duke Realty division, has broken ground on a medical office building at Baylor Regional Medical Center in Plano. The building, which is located at 4708 Alliance Rd., will be a seven-story, 141,000-square-foot facility. The project includes a skywalk to Baylor’s existing Medical Pavilion I and more than 850 parking spaces. BremnerDuke will oversee design and construction on the facility, while Dallas-based PageSoutherlandPage is the project architect. Duke Realty LP will own the facility upon its completion.
BLOOMFIELD, CONN. — Steven Inglese of the New Haven Group has completed the $13.3 million sale of a 60,000-square-foot medical complex in Bloomfield. The complex includes seven interconnected buildings that sit on 9 acres at 701 Cottage Grove Rd. The facility was 94 percent leased at the time of the sale. Inglese represented the seller, Cottage Grove Partners, and procured the buyer, an undisclosed affiliate of Realty Group, in the transaction.
MCKINNEY, TEXAS — Eldorado Office Park LLC has purchased a medical office building located at 6717 Eldorado Pkwy. in McKinney. Eldorado Land Company LP sold the 10,076-square-foot property. Henry S. Miller Commercial represented the buyer in the transaction, and Ray Eckenrode of Appian Commercial represented the seller.
SANTA MONICA, CALIF. — Arnon Development has acquired a 30,000-square-foot land parcel, which is located on 16th Street in Santa Monica, from Spruce Realty Group for $13.25 million. The company plans to develop a 50,000-square-foot outpatient medical center on the property. Designed by architect Eric Shen, the Class A center will feature subterranean parking. Groundbreaking is slated for second quarter 2009, with completion scheduled for second quarter 2010. Gary Weiss and John Mudgett of Madison Partners represented the buyer; Dennis Ellman of Greenberg Glusker LLP represented the seller in the transaction.