Healthcare

Joint Venture Plans $439M Inpatient Rehabilitation Hospital, Research Facility in Detroit

by Katie Sloan September 7, 2023

DETROIT — The Gilbert Family Foundation, Henry Ford Health and Shirley Ryan AbilityLab have announced plans for the development of a $439 million inpatient rehabilitation hospital and research facility in Detroit. The project will be an expansion of the existing Henry Ford Health and Michigan State University Health Sciences campus. Plans for the project include a 125,000-square-foot inpatient tower, which will be constructed at the corner of West Grand Boulevard and John C. Lodge Freeway. The facility will offer 72 beds, with three floors of the building occupied by rehabilitation care provider Shirley Ryan AbilityLab. The rehabilitation floors will provide inpatient care for those recovering from strokes, traumatic brain injuries, spinal cord injuries and other conditions. The Gilbert Family Foundation has provided $10 million fund to increase access to rehabilitation care for low-income residents in Detroit. The building is scheduled for completion in 2029. The development will also include a new research building on Henry Ford Health’s East Campus. The project will house the Nick Gilbert Neurofibromatosis Research Institute, a facility dedicated to finding a cure for neurofibromatosis. The property is scheduled for completion in 2027. The building will be the first brick-and-mortar development to be solely dedicated to neurofibromatosis …

September 7, 2023

Acquisitions Healthcare Indiana Midwest

Marcus & Millichap Arranges $2.4M Sale of Urgent Care Property in Shelbyville, Indiana

by Kristin Harlow September 5, 2023

SHELBYVILLE, IND. — Marcus & Millichap has arranged the $2.4 million sale of a 3,700-square-foot property occupied by Fast Pace Urgent Care in Shelbyville, a southeast suburb of Indianapolis. Built in 2022, the net-leased property is located at 1778 E. State Road. Fast Pace’s lease is for 15 years and features three five-year renewal options along with 10 percent rental escalations every five years. Jordan Klink of Marcus & Millichap represented the buyer, a limited liability company. The seller was undisclosed.

September 5, 2023

Development Healthcare Southeast Virginia

Cullinan Properties Delivers $100M Veterans Affairs Mental Health Clinic in Metro Tampa

by John Nelson August 31, 2023

TEMPLE TERRACE, FLA. — Cullinan Properties has completed the development of the U.S. Tampa Veterans Affairs (VA) Mental Health Clinic in Temple Terrace, roughly 10 miles outside of Tampa. Cullinan broke ground on the $100 million project in late 2021. The facility, which totals 150,000 square feet, will begin seeing patients in January 2024. Situated on 20 acres, the development features a 120,000-square-foot clinic, 265 consult rooms, 60 patient rooms, an activities courtyard, full-service kitchen, dining room and social activities room. The General Services Administration (GSA), along with the VA, selected the project team, including Hoar Construction and Leo A Daly as the general contractor and architect, respectively. Lincoln Harris is the facility manager.

August 31, 2023

Acquisitions Arizona Development Healthcare Industrial Mixed-Use Multifamily Office Restaurant Retail Western

Partnership Purchases 311-Acre Site for Mixed-Use Project in Gilbert, Arizona

by Amy Works August 29, 2023

GILBERT, ARIZ. — Indicap, Colmena Group and Langley Properties have completed the purchase of 311 acres of land at the northwest corner of Power and Warner roads in Gilbert. The property traded for $107.5 million in an all-cash transaction. The buyers plan to develop The Ranch, a billion-dollar mixed-use project on the site. With the land acquisition complete, the project will move to the site planning and design phase, with a groundbreaking slated for third-quarter 2024. The project will include: Jason Hyams of Insight Land and Investments represented the buyer. Danny Perkinson and Scott Perkinson of Perk Prop Real Estate represented the seller, The Dale C. Morrison Trust, in the deal.

August 29, 2023

Development Healthcare Midwest Wisconsin

Kraus-Anderson Completes First Phase of Renovations at Amery Hospital & Clinics in Wisconsin

by Kristin Harlow August 29, 2023

AMERY, WIS. — Kraus-Anderson has completed the first phase of renovations at Amery Hospital & Clinics in Amery, a city in Northwest Wisconsin. Designed by BWBR Architects, this phase included a $2.3 million infusion and emergency room totaling 4,813 square feet. Phase II, which is nearing completion, includes a remodel of the emergency department’s waiting area, triage area and low acuity rooms as well as a build-out of a new at-risk behavioral health room and central nursing station. Next month, Kraus-Anderson will begin an extensive remodel of the emergency department’s procedure room and break room as well as an additional build-out of the behavioral health room and exam rooms. This final phase is slated for completion in March.

August 29, 2023

Development Healthcare Texas

University of Texas, MD Anderson to Open Medical Complex at Site of Erwin Center

by Taylor Williams August 23, 2023

AUSTIN, TEXAS — The University of Texas at Austin (UT) and MD Anderson will open a new medical complex at the site of the Erwin Center, the former arena of the university’s basketball teams. The complex will consist of a traditional hospital and cancer care/treatment facility. Demolitions are expected to begin in 2024, and the groundbreaking for the new medical facilities is scheduled for 2026. The total investment for these projects is estimated at $2.5 billion.

August 23, 2023

Development Healthcare Southeast Tennessee

OGA Breaks Ground on 6,000 SF Vanderbilt Medical Facility in Nashville

by John Nelson August 21, 2023

NASHVILLE, TENN. — Oman-Gibson Associates (OGA) has broken ground on a 6,000-square-foot medical imaging facility in Nashville. The clinic, which is being constructed at 8124 Sawyer Brown Road on behalf of Vanderbilt Imaging Services, will provide specialty imaging including MRI, CT, ultrasound, fluoroscopy, digital X-ray and mammography services. Vanderbilt plans to relocate its Belle Meade Imaging practice to the new facility, with completion expected in late 2024 or early 2025. Thomas Constructors is the general contractor on the project, HMK Architects is the architect and Fulmer Lucas Engineering is serving as the civil engineer.

August 21, 2023

Acquisitions California Healthcare Office Western

Cushman & Wakefield Negotiates $9M Sale of Medical Office Building in San Jose, California

by Amy Works August 18, 2023

SAN JOSE, CALIF. — Cushman & Wakefield has arranged the sale of a freestanding medical office building located at 4850 Union Ave. in San Jose. LGTC Group acquired the asset from 4850 Union Avenue LLC for $9 million. LGTC Group, an outpatient mental health center, plans to occupy the two-story, 17,200-square-foot facility as its new clinic. Erik Hallgrimson and Clarke Steele of Cushman & Wakefield represented the seller in the transaction.

August 18, 2023

Acquisitions Healthcare Massachusetts Northeast

Thomas Park Investments Buys 125,000 SF Healthcare Property in Southborough, Massachusetts

by Taylor Williams August 16, 2023

SOUTHBOROUGH, MASS. — Thomas Park Investments has purchased Reliant Healthcare Southborough, a 125,000-square-foot healthcare property located in Worcester County in the central part of the Bay State. Reliant Medical Group, which recently signed a 97,000-square-foot extension, as well as UMass Memorial and Walgreens, anchor the outpatient facility. Brannan Knott and Mindy Berman of JLL represented Thomas Park Investments, which acquired the asset in a joint venture with an undisclosed partner, in the transaction. The seller and sales price were not disclosed.

August 16, 2023

Acquisitions Healthcare Indiana Midwest

Montecito Medical Acquires 11,118 SF Medical Office Building in Hammond, Indiana

by Kristin Harlow August 10, 2023

HAMMOND, IND. — Montecito Medical has acquired an 11,118-square-foot medical office building in Hammond, about 25 miles southeast of Chicago. The purchase price was undisclosed. The building is fully occupied by the Williams Eye Institute and serves as the group’s flagship location. The Williams Eye Institute provides a full range of eye care, from general ophthalmology to advanced cataract surgery. Montecito worked alongside Entheos Capital Partners in completing the transaction.

August 10, 2023

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