MISSION, TEXAS — Partners Real Estate has arranged the sale of a 49,320-square-foot medical office building in the Rio Grande Valley city of Mission. According to LoopNet Inc., the property was originally built in 1999 and renovated in 2010. Gustavo Torres of Partners represented the seller, MMP Development, in the transaction. Alex Wenzel of Sands Investment Group represented the undisclosed buyer.
LANSING, MICH. — Gillespie Group’s medical services building that is opening in Lansing’s University Health Park has been named the Izzo Family Medical Center after Michigan State University’s basketball coach Tom Izzo and his family. The Izzo family received the naming opportunity to honor the contributions they have made in the community over the past 27 years. The 60,400-square-foot building, which is slated to open in June, will house three groups: McLaren Greater Lansing, MSU Healthcare and Corewell Health’s Helen Devos Children’s Hospital. The Izzo family will own the building in conjunction with developer Gillespie Group and a few other investors.
SALT LAKE CITY — PhyNet Dermatology has leased 14,556 square feet of office space at 650 Main in Salt Lake City. The space is located on the corner of Main Street and 600 South in downtown. The 10-story, Class A office building consists of 335,000 square feet that includes retail space. Jordan Wade and Allie McCracken of Transwestern represented the dermatology practice management company. CBRE has the leasing assignment for the building, which Patrinely owns.
ROANOKE, VA. — Montecito Medical has acquired a 209,000-square-foot medical office property located in Roanoke. Situated within Tanglewood Center — an 800,000-square-foot mixed-use development that also features retail, dining and entertainment space — the building is leased to Carilion Children’s Clinic. The seller and sales price were not disclosed.
CLIFTON, N.J. — New Jersey-based Prism Capital Partners has broken ground on Hackensack Meridian Health Ambulatory Care Center, an 80,000-square-foot healthcare project in Clifton, about 20 miles west of New York City. Gensler designed the four-story building, which will be located at the corner of Metro Boulevard and Route 3 on Prism’s ON3 healthcare and life sciences campus. The facility will include a surgical center, multiple specialty practice areas and a 400-space parking garage. Completion is slated for the third quarter of 2024.
Skender Completes Build-out of Northwestern Medicine Pain and Spine Center in Bloomingdale, Illinois
BLOOMINGDALE, ILL. — Skender has completed the build-out of the Northwestern Medicine Center for Pain and Spine Health Bloomingdale. The multidisciplinary clinic at 245 Gary Ave. in suburban Chicago provides collaborative medical office space for pain medicine specialists, neurosurgeons, chiropractors, physical therapists and advanced practice nurses. The 12,000-square-foot project consisted of a comprehensive renovation of the first floor, including new imaging equipment, patient care areas and physical therapy specialty services. Along with the clinical build-out, the building underwent significant infrastructure improvements such as new electrical service and the replacement of four rooftop mechanical units.
LEE’S SUMMIT, MO. — McCarthy Building Cos. has broken ground on a $52 million expansion and renovation project for Saint Luke’s East Ambulatory Surgery Center in the Kansas City suburb of Lee’s Summit. The center was built in 2006 to meet the growing needs of eastern Jackson County. Located at 120 NE Saint Luke’s Blvd., it is part of Saint Luke’s Health System. The 113,913-square-foot project will create additional space needed to enable offsite medical-related services to move back onto the main East campus. Work includes both the renovation of the existing two-story, 52,000-square-foot ambulatory surgery center and clinical space, as well as building a new 62,000-square-foot third-floor addition above the existing facility. Completion is scheduled for the end of 2024.
GREENWOOD, IND. — Echo Real Estate Capital has acquired a 57,000-square-foot medical office building in the Indianapolis suburb of Greenwood for an undisclosed price. Located at 555 County Line Road, the multi-tenant property is anchored by Community Health and Goodman Campbell Brain & Spine. The building is currently 64 percent occupied. Echo plans to undertake several capital improvements, including a lobby renovation, roof replacement, parking lot repairs and landscaping upgrades. Wintrust Bank provided acquisition financing. The transaction marks Echo’s fourth acquisition in the submarket.
CALIFORNIA — Capital Funding Group (CFG) has provided $10.9 million in financing, which supported the refinancing of an existing bridge loan, executed by CFG, into a HUD loan. The refinancing is for a 99-bed skilled nursing facility in California. Further details were not disclosed. Capital Funding Group’s Tim Eberhardt and Ava Julio originated the transaction for the company.
NEW MEXICO — Evans Senior Investments (ESI) has arranged the sale of a skilled nursing community on behalf of a Southwest regional operator. The asset is located in the northwestern part of New Mexico and included 101 skilled nursing beds. Despite the community being located in a rural market, the asset maintained an occupancy average of 83 percent during the marketing process. Upon closing, the community was 95 percent occupied. A West Coast-based group acquired the asset for $16.5 million or $163,366 per bed. It is the buyer’s first property in New Mexico. Details regarding the seller were not disclosed.