Healthcare

San Antonio Regional Hospital Buys Office Complex in Rancho Cucamonga, California for $22.2M

by Jeff Shaw June 2, 2023

RANCHO CUCAMONGA, CALIF. — San Antonio Regional Hospital has acquired a 127,000-square-foot office building in Rancho Cucamonga for $22.2 million. The building is located at 11000 Eucalyptus St. San Antonio Regional Hospital is an Upland-based regional healthcare provider that will convert the asset into medical office space. Graham Gilles of the Hoffman Company represented the buyer in the transaction. Gary Goodgame, Jeremy Dee and Max Browne of Kennedy Wilson Brokerage represented the seller, Mercury Casualty Co.

June 2, 2023

Acquisitions Healthcare Michigan Midwest

Friedman Brokers Sale of 35,858 SF Medical Office Building in Battle Creek, Michigan

by Kristin Harlow June 2, 2023

BATTLE CREEK, MICH. — Friedman Real Estate has brokered the sale of Health Park South, a 35,858-square-foot medical office building in Battle Creek, about 25 miles east of Kalamazoo. The sales price was undisclosed. Located at 2845 SW Capital Ave., the property is home to Ascension Borgess Hospital, Bronson Health Internal Medicine and Fresenius Kidney Care. Andrew Bower of Friedman represented the undisclosed buyer.

June 2, 2023

Arizona Healthcare Loans Multifamily Seniors Housing Western

CFG Provides $10.3M HUD Refinancing for Skilled Nursing Facility in Arizona

by Jeff Shaw June 1, 2023

ARIZONA — Capital Funding Group (CFG) has provided $10.3 million in financing for a 112-bed skilled nursing facility in Arizona. The transaction replaces an existing bridge loan, which CFG also provided, into HUD financing. The name of the borrower and more specific details on the property were not disclosed. Tommy Dillon originated the transaction for the CFG.

June 1, 2023

Development Healthcare Texas

McCarthy Completes Healthcare Project for Houston Methodist in Sugar Land, Texas

by Taylor Williams May 30, 2023

SUGAR LAND, TEXAS — St. Louis-based general contractor McCarthy Building Cos. has completed a healthcare project in the southwestern Houston suburb of Sugar Land on behalf of the Houston Methodist healthcare system. The project comprises a six-story, 160,000-square-foot medical office building and a seven-story, 1,100-space parking garage. Page designed the project, and Jacobs served as the structural and civil engineer. Construction began in December 2021. Houston Methodist operates eight hospitals and employs roughly 30,000 people throughout the city.

May 30, 2023

Development Healthcare Midwest Minnesota

Davis Opens 44,000 SF Maple Grove Specialty Center in Suburban Minneapolis

by Kristin Harlow May 25, 2023

MAPLE GROVE, MINN. — Davis has opened Maple Grove Specialty Center, a 44,000-square-foot medical office building in the Minneapolis suburb of Maple Grove. MNGI Digestive is the anchor tenant and occupies the 22,000-square-foot second floor. The property will also be home to Minnesota Oncology, which leased the entire first floor. In addition to serving as developer, Davis owns the building and provides property management and leasing services. The project team included Minneapolis-based Synergy Architecture Studio and Plymouth, Minn.-based Timco Construction Inc.

May 25, 2023

Acquisitions Arizona Healthcare Office Western

Cypress West Partners Buys 30,000 SF Medical Office Building in Mesa, Arizona

by Jeff Shaw May 23, 2023

MESA, ARIZ. — Cypress West Partners purchased a 30,000-square-foot medical office building in Mesa. The single-story property is located at 6309 East Baywood Ave. The seller and price were not disclosed. The firm acquired the fully vacant building from a group of local physicians that originally developed the property in 2002. They had operated a practice there until recent retirement. A cardiology practice has signed a new lease for 20,000 square feet at the property, with plans to establish a flagship clinical location. Cypress West is investing more than $3 million in capital improvements to the building, including roof, mechanical and site improvements. It is also modernizing an existing 10,000-square-foot ambulatory surgery center to current licensure standards and code. The space will offer two operating rooms, with an ability to increase to four. The repositioning is scheduled for completion by September. Steve Berghoff and Mark Haslip of Menlo Group are handling leasing for the property.

May 23, 2023

Acquisitions Healthcare Texas

HCA Healthcare Agrees to Buy 41 Urgent Care Centers in Texas from FastMed

by Taylor Williams May 22, 2023

NASHVILLE, TENN. — Nashville-based provider HCA Healthcare has entered into an agreement to purchase 41 urgent care centers located throughout Texas from regional owner-operator FastMed. The addition of the clinics, which are located throughout the metro areas of Dallas, Austin, San Antonio, Houston and El Paso, will raise HCA Healthcare’s national portfolio count of urgent care centers to 268. The deal is expected to close this summer.

May 22, 2023

Acquisitions California Healthcare Office Western

Avison Young Brokers $5M Sale of Medical Office Building in Santa Monica, California

by Jeff Shaw May 22, 2023

SANTA MONICA, CALIF. — Avison Young has brokered the sale of a medical office building in downtown Santa Monica. US 528 Arizona Owner LLC acquired the property for $5 million. The 3,049-square-foot medical office building is located at 520 Arizona Ave. It was acquired as part of a land assemblage for the development of a mixed-use project. Mitch Stokes of Avison Young was the sole broker in the transaction.

May 22, 2023

Acquisitions Healthcare Office Utah Western

MedProperties Realty Advisors Buys 51,591 SF Medical Office Building in South Salt Lake, Utah

by Jeff Shaw May 18, 2023

SOUTH SALT LAKE, UTAH — MedProperties Realty Advisors has purchased a 51,591-square-foot medical office building in South Salt Lake, just south of Salt Lake City. The property is 97 percent leased to high-quality tenants that primarily specialize in treating kidney disease. The Class A asset is known as Wasatch Renal Center. The buyer was attracted to the property due to the tenant base and physical quality of the building. The tenants are affiliated with Fresenius Medical Care, a worldwide leader in the treatment of renal disease and in kidney disease research.

May 18, 2023

Acquisitions Colorado Healthcare Office Western

Marcus & Millichap Brokers $2M Sale of Downing Street Office Building in Denver

by Jeff Shaw May 18, 2023

DENVER — A local family medicine practice has acquired an 8,360-square-foot office building in Denver for $2 million. The practice plans to convert most of the building for its medical practice. The property is located at 1634 Downing St. The two-story building is only a few blocks from SCL Saint Joseph Hospital. An immigration law firm currently occupies the space. Cory Gross and Erik Enstad of Marcus & Millichap’s Denver office had the exclusive listing to market the property on behalf of the seller, a private investor.

May 18, 2023

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