HOUSTON — Kirksey, a Houston-based architecture and design firm, has announced that Life Science Plaza, a healthcare facility located at 2130 W. Holcombe Blvd. in Houston, will officially top out Tuesday, Jan. 22, 2008. The seven-story building includes a parking garage, medical offices and a long-term acute care hospital. A public park is also in development for the west side of the project. The project is planned for LEED gold certification.
Healthcare
DALLAS — Ascension Group Architects, an Arlington, Texas-based design firm, has been awarded the design contract for Forest Park Medical Center to be located at the northeast corner of Central Expressway and Forest Lane in North Dallas. The 66,100-square-foot, two-story hospital project is estimated to cost $36.4 million. A multi-specialty group of local physicians is developing the hospital, and Physician Synergy Group will be the operation manager. Construction is set to begin later this month on the project, which is scheduled for completion in 2009.
SANTA ANA, CALIF. — Santa Ana-based Triple Net Properties, on behalf of tenant-in-common investors, has acquired the Eastern Wisconsin Medical portfolio, which consists of six Class A medical office buildings totaling approximately 153,000 square feet and is located in six different cities in eastern Wisconsin. The properties are leased by Aurora Medical Group, which has 15-year, triple-net leases for 100 percent of the space. The properties were sold by Aurora, which was represented by David Boerke and Jack Price of The Boerke Company. The acquisition price was not disclosed.
BETHLEHEM, PA. — Cogdell Spencer, a Charlotte, N.C.-based REIT, along with St. Luke’s Hospital and Health Network, is developing Riverside Outpatient Campus in Bethlehem. The $100 million project will feature a cancer center, an outpatient health care pavilion and two medical office buildings all totaling 383,000 square feet. Phase I includes the two medical office buildings, valued at between $35 and $40 million, which will be owned in a single investment entity by Cogdell Spencer and physician investors. Phase I will be situated on 55 acres at Freemansburg Avenue and Route 33. The balance of the project will be developed by Cogdell Spencer but owned by St. Luke’s, the primary tenant. The project is slated for completion third quarter 2009.
CHESTERFIELD, MO. — The joint venture of Grubb & Ellis Healthcare REIT and BD St. Louis Development, a subsidiary of Duke Realty Corp., has acquired Chesterfield Rehabilitation Center in Chesterfield. The 50-bed, three-story inpatient rehabilitation facility is located 22 miles west of St. Louis, and offers physical, brain and spinal cord rehabilitative services. Philip Mahler and Jeffrey Cooper with New York-based Savills Granite brokered the transaction. The acquisition price was not disclosed.
BETHLEHEM, PA. — Jackson Cross Partners has completed the $1.7 million sale of a 20,000-square-foot flex building in Bethlehem. The buyer, Eastern Pennsylvania Nephrology Associates, will use 4,000 square feet of space within the building for its operations and lease the remaining 10,000 square feet to Fresinius Medical Care North America and 6,000 square feet to RMS Lifeline Inc. MaryFrances McGarrity of Jackson Cross represented the buyer, and Frank Smith of Summit Realty and Management Co. represented the seller, Dennis Benner of Prime at City Line Road, in the transaction.
MILFORD, CONN. — Michael Richetelli of Colonial Properties has brokered the sale of 16 Oxford Road in Milford. Metropolitan Dental Laboratory of Stratford acquired the building from Oxford Place LLC for $675,000. The 4,800-square-foot building is situated on .62 acres and the owner plans on using 50 to 75 percent of the building for its own operations and leasing out the remaining space.
SHELBYVILLE, TENN. — First Colony Healthcare has begun construction on a 30,000-square-foot medical office building in Shelbyville. The project is a significant part of the development of the replacement hospital for Bedford County Medical Center, also under construction. First Colony Healthcare is collaborating with Southland Constructors and Thomas, Miller & Partners on this project. Expected to be complete in summer 2008, the facility will feature custom-designed medical practice suites.
ALLENTOWN, PA. — Summit Management and Realty Co. has brokered the $450,000 sale of a 2,500-square-foot office condominium in the Springhouse Professional Center at 1575 Pond Rd. in Allentown. The undisclosed buyer plans to convert the space into medical suites. Sharon Gage of Summit Management and Realty Co. represented the seller, Rainbow Discovery & Child Development Center, and the buyer in the transaction.
FRISCO, TEXAS — North Texas Enterprise Center for Medical Technology (NTEC) will break ground on a 35-acre medical technology park in Frisco. The park, located at 6170 Research Rd., will be the largest medical technology park in Texas. Phase I will include a two-story, 50,000-square-foot building that will offer office and lab space to as many as 35 medical device and technology-based businesses. Frisco Economic Development Corp. has passed an $11 million bond issue to help fund Phase I. Project partners include Farmington Hills, Mich.-based contractor The Sinacola Companies and Dallas-based architecture firm Croft Architectural Consortium.