Healthcare

JLL Arranges $59.9M Sale of Loyola University Outpatient Center in Burr Ridge, Illinois

by Kristin Harlow October 5, 2023

BURR RIDGE, ILL. — JLL Capital Markets has arranged the $59.9 million sale of Loyola Medicine Burr Ridge, an outpatient medical center totaling 104,912 square feet in the Chicago suburb of Burr Ridge. Built in 2010, the three-story property is fully leased to Loyola University Medical Center. The Chicago academic medical center is an affiliate of the national health system, Trinity Health. Loyola Burr Ridge is Loyola’s largest ambulatory care location and offers orthopedics, cancer care, neurology, cardiology and dermatology services. Mindy Berman, Sam DiFrancesca, Pat Shields and Matt Sykes of JLL represented the seller, Healthcare Realty Trust, and procured the buyer, Sila Realty Trust.

October 5, 2023

Development Georgia Healthcare Southeast

Northside Hospital, Realty Trust Group Open 45,000 SF Medical Center in Snellville, Georgia

by John Nelson October 4, 2023

SNELLVILLE, GA. — Northside Hospital and Realty Trust Group (RTG) have opened a new 45,000-square-foot healthcare clinic in downtown Snellville, a suburb of Atlanta in Gwinnett County. RTG partnered with the Atlanta-based hospital system through the planning and development process, including land acquisition, zoning, design and construction phases. Northside is the operator of the two-story medical office, which features imaging, surgery and orthopedics services. Adjacent to the new medical center is a 7,500-squrae-foot sister building that houses an urgent care. The medical buildings are situated on a 4.6-acre site along Wisteria Drive within The Grove at Towne Center development.

October 4, 2023

Healthcare Kansas Leasing Activity Midwest

Physician Aesthetic Specialists to Open Flagship Location in Lenexa, Kansas

by Kristin Harlow October 4, 2023

LENEXA, KAN. — Physician Aesthetic Specialists is opening a flagship location at 87 Quivira Plaza in Lenexa. Scheduled to open on Friday, Dec. 1, the office will total 4,200 square feet and feature 10 treatment rooms with a dedicated consultation space. In addition to aesthetic services and massage therapy, the offerings include advanced procedures such as non-surgical facelifts and body contouring, laser treatments, stem cell hair restoration, stem cell therapy for skin rejuvenation, hormone replacement therapy, neurotoxin treatments and weight loss injections. Dr. Dan Margolin, the founder of Physician Aesthetic Specialists, performs all patient consultations and participates in all contouring procedures. The company currently operates at The Healing Arts Center of Lenexa.

October 4, 2023

California Development Healthcare Life Sciences Office Western

Stockdale Capital Partners Plans 145,000 SF Medical Office, Life Sciences Project in West Los Angeles

by Amy Works October 3, 2023

LOS ANGELES — Stockdale Capital Partners has announced plans for 656 S. Vincente Boulevard, a medical office and life sciences property in Los Angeles’ Golden Triangle area. The project will be the first new medical office and life sciences building constructed in the area in more than 20 years. The 12-story property will feature 145,000 square feet of Class A medical office and life sciences space that combines both environmental sustainability and best-in-class amenities. The building will feature electric vehicle charging stations, ample bicycle parking, direct access to a major transit thoroughfare and 418 parking spaces with full valet service for tenants and patients. The project team includes Atelier R and HMC for architectural and design services. Jones Lang LaSalle’s construction management team will support pre-construction and consulting services through the design and construction phases. The building will include an integrated solar framework capable of offsetting building energy usage; recycled building materials designed to maximize energy efficiency; high-efficiency heating and cooling systems; low-water usage plumbing and mechanical systems; drop irrigation; extensive green space; and interior and exterior gardens to help optimize air quality throughout the building. Core-and-shell completion is slated for October 2026. Angie Weber and Dana Nialsi of CBRE will …

October 3, 2023

Development Healthcare Midwest Missouri

McCarthy to Build 14-Story Facility for SSM Health’s Cardinal Glennon Children’s Hospital in St. Louis

by Kristin Harlow October 2, 2023

ST. LOUIS — McCarthy Building Cos. Inc. will build a new 14-story facility with more than 200 inpatient beds for SSM Health’s Cardinal Glennon Children’s Hospital in St. Louis. The design-build team includes architecture and design firm HKS as well as St. Louis-based planning and design firm Lawrence Group. According to McCarthy, the new pediatric academic hospital will incorporate the latest best practices in patient and family-centered design, including large areas to accommodate families. It will also support expanded and enhanced services, including NICU, ICU, cancer, cardiology and dialysis care in a therapeutic healing environment that integrates the latest technology and research. Scheduled for completion in 2027, the new hospital will be located at Chouteau Avenue and Grand Boulevard in the city’s Midtown area. First opened in 1956, SSM Health Cardinal Glennon Children’s Hospital was the nation’s first freestanding, nonprofit Catholic children’s hospital.

October 2, 2023

Acquisitions Development Healthcare Illinois Lee & Associates Midwest

Lee & Associates Negotiates $4.1M Sale of Development Site in Suburban Chicago for Future Advocate Health Outpatient Center

by Kristin Harlow September 29, 2023

HOFFMAN ESTATES, ILL. — Lee & Associates has negotiated the $4.1 million sale of a 6.5-acre development site located at the southwest corner of Route 59 and Hoffman Boulevard in the Chicago suburb of Hoffman Estates. Rick Scardino of Lee & Associates represented the seller, Prairie Pointe Commercial (c/o Conor Commercial). Jacob Dell and Gary Fazio of CBRE represented the buyer, Advocate Health and Hospitals Corp. According to Scardino, Advocate Health plans to build a 36,000-square-foot outpatient center at an estimated cost of $34 million, inclusive of land costs.

September 29, 2023

Acquisitions Arizona Healthcare Office Western

Plaza Cos., Ryan Cos. Sell Ironwood Medical Pavilion in Queen Creek, Arizona for $23.3M

by Amy Works September 25, 2023

QUEEN CREEK, ARIZ. — Plaza Cos. and Ryan Cos. have completed the disposition of Ironwood Medical Pavilion, located on the Banner Ironwood Medical Center campus in Queen Creek. Hammes Partners acquired the asset for $23.3 million. Plaza Cos. will remain a minority joint venture investor and will continue to provide leasing and property management services for the property. Completion in September 2019, the three-story Ironwood Medical Center features 60,000 square feet of medical office space. The facility is adjacent to the Banner Ironwood Medical Center, a 78-acre medical center campus at the southwest corner of Gantzel and Combs roads. Bill Cook and Margaret Lloyd of Plaza Cos. will lead leasing efforts, while Scott Rubin of Plaza Cos. will oversee property management of the facility.

September 25, 2023

Development Healthcare Midwest Minnesota

Ryan Cos. Completes 30,000 SF Psychiatric Hospital Expansion in Brooklyn Park, Minnesota

by Kristin Harlow September 25, 2023

BROOKLYN PARK, MINN. — Ryan Cos. US Inc. has completed PrairieCare’s youth and young adult psychiatric inpatient hospital expansion in the Minneapolis suburb of Brooklyn Park. Ryan completed the project three weeks ahead of schedule. The nearly 30,000-square-foot expansion includes an additional 30 inpatient beds as well as activity and therapy spaces. The expansion enables PrairieCare to serve an additional 1,000 youth and young adults each year. The hospital is located adjacent to 610 Medical Center, a two-story medical office building that houses PrairieCare, PrairieCare Medical Group and the PrairieCare Foundation. Ryan also built and designed 610 Medical Center. Pope Architects served as the architect and interior designer for the expansion project.

September 25, 2023

Development Healthcare Midwest Minnesota

HealthPartners Breaks Ground on $50.5M Specialty Center in Woodbury, Minnesota

by Kristin Harlow September 22, 2023

WOODBURY, MINN. — HealthPartners has broken ground on a $50.5 million specialty center in the St. Paul suburb of Woodbury. The facility will provide additional medical and surgical specialty care to the community. Located on City Place Boulevard, the project will rise two stories and total 55,000 square feet. Completion is slated for winter 2024. The project marks the health system’s latest addition to the Woodbury area, including HealthPartners Clinic Woodbury, TRIA Orthopedic Center, Melrose Center and other specialty care clinics. Kraus-Anderson is the construction manager.

September 22, 2023

Acquisitions Healthcare Indiana Midwest

Matthews Real Estate Brokers $21.9M Sale-Leaseback of Indiana Dental Portfolio

by Kristin Harlow September 22, 2023

MISHAWAKA AND FORT WAYNE, IND. — Matthews Real Estate Investment Services has brokered the $21.9 million sale-leaseback of a four-property dental portfolio totaling 65,900 square feet in Indiana. Three of the locations are in Mishawaka, and the fourth is in Fort Wayne. The deal was structured as a sale-leaseback with 15-year leases and 3 percent annual increases. Seamus O’Brien, Thor St John, Rahul Chhajed and Michael Moreno of Matthews brokered the sale. Buyer and seller information was not provided.

September 22, 2023

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