Healthcare

Corning Cos. Begins $50M Redevelopment of Gallatin Valley Mall in Bozeman, Montana to Include State’s First Whole Foods

by Amy Works November 8, 2022

BOZEMAN, MONT. — Corning Cos. is currently underway on a $50 million, multi-phase redevelopment of Gallatin Valley Mall, a retail center located in Bozeman. To be known as Gallatin Crossing, the mixed-use property will feature retail, entertainment and medical space, including a 45,000-square-foot medical pavilion that will bring together Intermountain Healthcare and Ortho Montana PSC. Whole Foods Market will also join the property with a location that marks its first in the state. The first phase of development for the project, which began in September 2022, is scheduled for completion later this year. A second phase — which will include façade upgrades, updated parking and refreshed landscaping, signage and lighting — is scheduled to begin in spring 2023. Grossman Development Group, Boston Realty Advisors and Situs Realty Group are working with owner Corning Cos. on the project.

November 8, 2022

Development Healthcare New Jersey Northeast

Public-Private Partnership Tops Out $750M Cancer Treatment Facility in Northern New Jersey

by Taylor Williams November 4, 2022

NEW BRUNSWICK, N.J. — A public-private partnership led by the New Brunswick Development Corp. has topped out the Jack and Sheryl Morris Cancer Center, a $750 million treatment facility in the northern-central part of the Garden State. RWJBarnabas Health and the Rutgers Cancer Institute of New Jersey will operate the facility, which will provide inpatient and outpatient cancer services, including ancillary services, as well as research labs and retail space. HOK Architects designed the project, and Jingoli is serving as the general contractor. Construction of the 12-story, 520,000-square-foot building is slated for completion in 2024.

November 4, 2022

Agora-Mixed-Use-Project-North-Las-Vegas-NV

Development Healthcare Mixed-Use Nevada Office Retail Western

Agora Realty Starts Construction of 29-Acre Mixed-Use Project in Downtown North Las Vegas

by Amy Works November 4, 2022

NORTH LAS VEGAS, NEV. — Agora Realty and Management has broken ground on a 29-acre mixed-use, master-planned commercial district in downtown North Las Vegas. The redevelopment project is located at the gateway to the city, east of Interstate 5 along Lake Mead Boulevard and north along Las Vegas Boulevard. Slated for completion in 24 months, the $105 million project will include 200,000 square feet of retail space and 125,000 square feet of healthcare and medical office space. Earlier this year, Agora started construction on a 22,000-square-foot medical office building that will include primary care and specialty services. The company plans to create a public space with children’s areas and event venues, as well as a large screen for outdoor presentations and movies. Agora also plans to incorporate micro-business suites that range in size from 150 square feet to 450 square feet. SCA Architects is doing construction drawings, and Mycotoo will work with Agora on design and programming for the micro-businesses and public space.

November 4, 2022

Acquisitions Healthcare Midwest Ohio

Remedy Medical Properties, Kayne Anderson Real Estate Acquire Medical Office Building Near Cleveland for $10.7M

by Kristin Harlow November 3, 2022

BRUNSWICK, OHIO — A joint venture between Remedy Medical Properties and Kayne Anderson Real Estate has acquired a 34,519-square-foot medical office building in the Cleveland suburb of Brunswick for $10.7 million. Named Atrium of Brunswick, the two-story property is located at 1299 Industrial Parkway North. The facility is fully occupied by two tenants. One GI is a gastroenterology group that recently acquired the building’s original tenant and seller, Digestive Disease Consultants (DDC). Shortly after One GI acquired DDC, it signed a new 12-year lease. The other tenant is MetroHealth, which operates four hospitals and other healthcare facilities throughout the Cleveland area. MetroHealth operates a primary care and pediatrics practice at the building with a lease that expires in 2025. Capital One provided acquisition financing.

November 3, 2022

Development Healthcare Midwest Ohio

Monument Healthcare Development Breaks Ground on University Hospitals Health Campus in Amherst, Ohio

by Kristin Harlow November 2, 2022

AMHERST, OHIO — Kansas City-based healthcare real estate group Monument Healthcare Development, in partnership with University Hospitals (UH), has broken ground on a new health campus in Amherst, about 28 miles west of Cleveland. The project will include two buildings, including an ambulatory surgery center (ASC) that will house five operating rooms and one procedure room. There will also be six recovery-focused Stay Suites in the same building as the ASC, which will focus on orthopedic surgical procedures. The Stay Suites are part of the Muve program, a value-based surgical care program offered by ValueHealth. The facility will also provide general orthopedic, spine, ear, nose and throat and pain management services. In addition to the ASC, there will be a medical office building to house physicians and other providers across a variety of medical and surgical specialties. Completion is slated for the fourth quarter of 2023. The project team includes CTL Engineering, architect ESa and J.E. Dunn Construction Co. In 2020, UH unveiled that it had formed a joint venture to expand its ambulatory surgical network.

November 2, 2022

Acquisitions Healthcare New York Northeast

SRS Real Estate Brokers $15.9M Sale of Medical Office Building in Geneseo, New York

by Taylor Williams November 1, 2022

GENESEO, N.Y. — SRS Real Estate Partners has brokered the $15.9 million sale of a 51,357-square-foot medical office building in Geneseo, located south of Rochester in upstate New York. The property was built on 6.2 acres in 2021 and is fully leased to Rochester Regional Health. Britt Raymond and Kyle Fant of SRS Real Estate represented the seller, a New York-based developer, in the transaction. Ray Yung Real Estate represented the buyer, a New Jersey-based family office.

November 1, 2022

Healthcare Leasing Activity Michigan Midwest Office

Kalamazoo Child and Family Counseling to Open New Location in West Michigan

by Kristin Harlow November 1, 2022

KALAMAZOO, MICH. — Kalamazoo Child and Family Counseling PLLC is opening a second location in West Michigan at The Atriums Office Park in Kalamazoo. The property is located at 4341 S. Westnedge Ave. Kalamazoo Child and Family Counseling is a mental health clinic dedicated to serving children and teens that have anxiety, post-traumatic stress disorder, grief and loss or disruptive behaviors. The practice’s primary office is in Portage. The new location will provide all the same services as the Portage location and is slated to open in November. Kara Schroer of NAI Wisinski of West Michigan represented both the undisclosed landlord and the tenant in the lease.

November 1, 2022

California Development Healthcare Western

Stockdale Capital to Develop 145,000 SF Medical Office Tower in Los Angeles’ Westside

by Amy Works October 31, 2022

LOS ANGELES — Stockdale Capital Partners has received approval from the Los Angeles City Council for the development of a 12-story Class A medical office building at 656 S. San Vicente Blvd. in Los Angeles’ Westside neighborhood. With construction slated to begin as early as late 2023, the 145,000-square-foot project will offer surgery, invasive outpatient services, laboratory space and patient-centered medical space. The property will also feature living gardens on the ground floor and upper floors, low-water usage and drip irrigation, increased plantings and greenspace, potential for building-integrated solar, use of recycled materials, high-efficiency heating and cooling systems, and energy-efficient design and green spaces throughout. Additional amenities will include electric vehicle charging stations, ample bicycle parking and 418 parking spaces with valet services.

October 31, 2022

Acquisitions Healthcare Massachusetts Northeast

Anchor Health Properties Acquires Metro Boston Medical Office Building for $15.1M

by Taylor Williams October 31, 2022

BRAINTREE, MASS. — Virginia-based investment firm Anchor Health Properties has acquired a 47,530-square-foot medical office building in the southern Boston suburb of Braintree for $15.1 million. Robert Griffin, Frank Nelson, Michael Greeley and Blake McLaughlin of Newmark represented the seller, Foxfield LLC, in the transaction and procured Anchor Health as the buyer. The building was 94 percent leased to 16 tenants at the time of sale.

October 31, 2022

Healthcare Leasing Activity New Jersey Northeast

Summit Health Opens 100,000 SF Medial Office Building in Clifton, New Jersey

by Taylor Williams October 31, 2022

CLIFTON, N.J. — Summit Health has opened a 100,000-square-foot medical office building at 1255 Broad St. in the Northern New Jersey community of Clifton. Among the specialty practices housed within the facility are primary care, family medicine, dermatology, orthopedics, urology, breast care, imaging and lab services and comprehensive cancer care. Gensler designed the facility, which also features 118 exam rooms and an urgent care clinic operated by CityMD.

October 31, 2022

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