Healthcare

NAI Hiffman Negotiates 87,461 SF Medical Office Lease Renewal in New Lenox, Illinois

by Kristin Harlow July 21, 2025

NEW LENOX, ILL. — NAI Hiffman has negotiated an 87,461-square-foot medical office lease renewal for Silver Cross Hospital at 1890 Silver Cross Blvd. in New Lenox, a southwest suburb of Chicago. The 174,855-square-foot, six-story building is known as Pavilion A. Silver Cross healthcare providers occupy the first two levels as well as eight suites on the upper four levels. Other tenants in the building include the Shirley Ryan AbilityLab at Silver Cross and independent healthcare providers. Perry Higa of NAI Hiffman represented Silver Cross in the lease renewal, and Steve Brooks and Katie McReynolds of NexCore Group represented the owner, Prudential Real Estate Investors. The lease was completed far in advance of its expiration in fourth-quarter 2026.

July 21, 2025

Development Healthcare Midwest Minnesota

HealthPartners Breaks Ground on 400,000 SF Hospital in Stillwater, Minnesota

by Kristin Harlow July 17, 2025

STILLWATER, MINN. — HealthPartners has broken ground on its new HealthPartners Lakeview Hospital in Stillwater, an eastern suburb of the Twin Cities. Kraus-Anderson is the construction manager for the six-story, 400,000-square-foot hospital and clinic campus. The project is slated to open in early 2028. The new location will offer expanded specialized services such as a family birth center, TRIA Orthopedics Clinic, cardiac catheterization lab, cancer care and improved emergency and critical care. The campus will include walking trails and nature views from patient rooms. HealthPartners acquired the project site in 2017, but design planning halted at the pandemic’s onset. Planning resumed in 2022, and the architects were chosen by late 2023. Over the past 18 months, efforts have concentrated on design development and community engagement.

July 17, 2025

Development Healthcare Southeast Virginia

Partnership Breaks Ground on 87,790 SF Medical Office Building in Midlothian, Virginia

by John Nelson July 17, 2025

MIDLOTHIAN, VA. — A partnership between Remedy Medical Properties, Kayne Anderson Real Estate and Bon Secours has broken ground on a new three-story, 87,790-square-foot medical office building (MOB) in Midlothian, a suburb of Richmond. The healthcare property will sit on a 7.8-acre site on the campus of Bon Secours St. Francis Medical Center. The new MOB will feature an 11,193-square-foot ambulatory surgery center that Compass Surgical Partners will operate. The design-build team for the new facility includes architect PSH Plus, general contractor Kjellstrom & Lee and civil engineer Timmons. The development team expects to complete the project in late 2026.

July 17, 2025

Acquisitions Healthcare Texas

IRA Capital Buys 148,950 SF Healthcare Property in Webster, Texas

by Taylor Williams July 16, 2025

WEBSTER, TEXAS — California-based private equity firm IRA Capital has purchased Houston Physicians’ Hospital, a 148,950-square-foot healthcare property in Webster, a southeastern suburb of Houston. The facility, which recently underwent a 39,000-square-foot expansion, includes an advanced surgical hospital and two aquatic care centers. At the time of sale, the facility was 100 percent leased to a joint venture between the physicians, Memorial Hermann Health System and United Surgical Partners International.

July 16, 2025

Development Healthcare Midwest South Dakota

Kraus-Anderson Begins $13M Expansion at Huron Regional Medical Center in South Dakota

by Kristin Harlow July 16, 2025

HURON, S.D. — Kraus-Anderson has begun a $13 million expansion at Huron Regional Medical Center in South Dakota. Designed by Wold HFR Design, the 7,500-square-foot addition will feature four new operating rooms, staff lockers and a lounge. The project also includes an 11,581-square-foot renovation of the existing OR suite, endoscopy rooms and pre- and post-operating rooms; and a new 19,081-square-foot sterile processing area and support spaces. Completion is slated for November 2026.

July 16, 2025

Acquisitions Healthcare Loans Midwest Ohio

MMCC Arranges $5.1M Acquisition Loan for Medical Office Property in Canal Winchester, Ohio

by Kristin Harlow July 15, 2025

CANAL WINCHESTER, OHIO — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5.1 million acquisition loan for a medical office property located at 9695 Basil Western Road in Canal Winchester, a southeast suburb of Columbus. The building is home to MedVet, which operates a 24-hour emergency vet. Chad O’Connor of MMCC arranged the financing with a credit union on behalf of the private borrower. The 10-year loan features a 6.5 percent interest rate, 30-year amortization period and 60 percent loan-to-value ratio.

July 15, 2025

Healthcare Leasing Activity Northeast Pennsylvania

Cardiology Consultants of Philadelphia to Open 13,100 SF Ambulatory Surgery Center in Wayne

by Taylor Williams July 14, 2025

WAYNE, PA. — Cardiology Consultants of Philadelphia will open a 13,100-square-foot ambulatory surgery center in Wayne, located northwest of the city. The company will build out and operate the facility in partnership with Cardiovascular Logistics, SCA Health and Penn Medicine. Paul Rogers and Charlie Rogers of Colliers represented the cardiology group in its site selection and lease negotiations. The opening is slated for the end of the year.

July 14, 2025

Acquisitions Healthcare Midwest Missouri

Marcus & Millichap Arranges $6.3M Sale of St. Louis Medical Office Property

by Kristin Harlow July 9, 2025

ST. LOUIS — Marcus & Millichap has arranged the sale of a 62,856-square-foot medical office property located at 5500 S. Broadway St. in St. Louis for $6.3 million. The building was constructed in 2001 and previously operated as the Riverview Nursing Facility. Dan Yozwiak and Darpan Patel of Marcus & Millichap represented the undisclosed buyer, which plans to renovate and repurpose the building as a behavioral health center. The seller was a local husband-and-wife ownership group.

July 9, 2025

372 Inverness Dr. S. Englewood, CO 80112

Acquisitions Colorado Healthcare Western

IRA Capital Buys 49,000 SF Reunion Inverness Physical Rehabilitation Hospital in Englewood, Colorado

by Amy Works July 8, 2025

ENGLEWOOD, COLO. — IRA Capital has acquired Reunion Inverness Physical Rehabilitation Hospital, a Class A inpatient rehabilitation facility (IRF) in Englewood, from a partnership between American Development & Investments, Brandon Holdings and Nobis Hospital Investments. Terms of the acquisition were not disclosed. Located at 372 Inverness Drive South, the three-story, 49,000-square-foot building is fully leased by Reunion Rehabilitation Hospitals on an absolute net lease structure with 22 years remaining. The purpose-built facility features 40 patient beds with scalability to 60 beds, two advanced therapy gyms, private patient rooms, outdoor courtyards, family gathering areas and a full-service café. John Witt and Ben Swanson of Quiver Investment, along with Chris Toci and Eric Wichterman of Cushman & Wakefield, represented the seller in the deal. Nobis Rehabilitation Partners, a third-party healthcare operator and manager, operates the Inverness facility.

July 8, 2025

Hospital-for-Special-Surgery-Sports-Medicine-Institute-West-Side

Development Healthcare New York Northeast

Skanska Completes Healthcare Renovation Project in Midtown Manhattan

by Taylor Williams July 7, 2025

NEW YORK CITY — International development and construction firm Skanska has completed the renovation of the Hospital for Special Surgery Sports Medicine Institute West Side in Midtown Manhattan. The project transformed the fourth floor of the facility into an outpatient clinic and introduced 15 new exam rooms, offices and a storage area. Skanska, working with Batska Consulting Group, also upgraded the building’s mechanical, electrical and plumbing systems to accommodate the new operations. Additional improvements included the integration of a new X-ray room and an ultrasound-guided injection exam room. Construction began in August 2024.

July 7, 2025

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