Wednesday, January 15, 2025
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Healthcare

DevelopmentHealthcareIowaMidwest

NexCore Group Opens Orthopedic Medical Office Building in Council Bluffs, Iowa

by Kristin Harlow

COUNCIL BLUFFS, IOWA — NexCore Group has completed development of a new orthopedic medical office building in Council Bluffs, a suburb of Omaha. OrthoNebraska occupies the 23,000-square-foot, build-to-suit project, which is located at 1260 Valley View Drive. OrthoNebraska offers orthopedic services to those with needs related to arthritis, osteoporosis, fractures, dislocations, torn ligaments, sprains, strains, tendon injuries and pulled muscles. Leo A Daly was the project architect and McCarthy Building Cos. was the general contractor. NexCore owns the property in a joint venture with Harrison Street.

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625-Lincoln-Ave-San-Jose-CA
AcquisitionsCaliforniaHealthcareOfficeWestern

CBRE Negotiates $19.5M Sale of Medical Office Building in San Jose

by Amy Works

SAN JOSE, CALIF. — CBRE has arranged the sale of 625 Lincoln Avenue, a medical office building in San Jose. The Sobrato Organization sold the asset to El Camino Health, the current tenant, for $19.5 million. El Camino Health uses the 35,272-square-foot medical office building for urgent and primary care. Scott Prosser, Joe Moriarty, Jack DePuy, Mike Taquino, Kyle Kovac and Alec Haley of CBRE represented the seller in the deal.

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HealthcareLoansOfficeOregonWestern

CIT Provides $50.8M Refinancing for Providence Family Wellness Center in Hillsboro, Oregon

by Amy Works

HILLSBORO, ORE. — CIT, a division of First Citizens Bank, has provided a $50.8 million loan to Seavest Healthcare Properties for the refinancing of Providence Family Wellness Center and Medical Office Building in Hillsboro. CIT’s healthcare finance unit provided the financing. Providence Family Wellness Center is a newly delivered, 118,000-square-foot medical office building and wellness center. Providence Health & Services – Oregon, a subsidiary of Providence St. Joseph, leases the building. The property offers clinical space for services, including primary care, pediatrics, behavioral health, sports medicine, women’s health, dermatology, cardiology, urgent care, diagnostics imaging, lab, rehabilitation and sports therapy. Additionally, the building features a comprehensive active wellness center complete with indoor warm water and outdoor lap pools.

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DevelopmentHealthcareMassachusettsNortheast

Vantage Builders Completes 26,000 SF Medical Office Renovation Project in Metro Boston

by Taylor Williams

PEABODY, MASS. — Vantage Builders has completed a 26,000-square-foot medical office renovation project in Peabody, a northeastern suburb of Boston, that is a build-to-suit for North Shore Physicians Group. Shepley Bulfinch designed the project, which converted 17,000 square feet of ground-floor traditional office space into medical office space. Vantage also built out offices and training areas for administrators and medical office staff on the second floor as part of North Shore’s expansion plan and modified the plumbing, electrical and HVAC systems.

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AcquisitionsFloridaHealthcareSoutheast

CREG Brokers $18.6M Sale of Southpoint Surgery Center in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — Capital Real Estate Group – U.S. Healthcare Investment Sales (CREG) has brokered the sale of Southpoint Surgery Center, a 34,029-square-foot medical office building in Jacksonville. An unnamed REIT purchased the property for $18.6 million. CREG represented the undisclosed seller in the transaction. Southpoint Surgery Center is anchored by Ascension St. Vincent (ASC), a healthcare system in Northeast Florida. The first floor of the property houses the surgery center and the second and third floors are leased to Florida Eye Specialists. Southpoint Surgery Center is located adjacent to the 309-bed hospital campus of ASC’s Medical Center Southside, an affiliate of Ascension Health.

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HealthcareLeasing ActivityNew JerseyNortheast

Delaware Valley Retina Associates Signs 5,938 SF Healthcare Lease Renewal Near Trenton

by Taylor Williams

LAWRENCEVILLE, N.J. — Delaware Valley Retina Associates has signed a 5,938-square-foot healthcare lease renewal at Princess Road Office Park in Lawrenceville, a northern suburb of Trenton. Larken Associates owns the property, which comprises 47,094 square feet of office and medical office space across two buildings on a nine-acre site. Vinny DiMeglio of JLL represented the tenant in the lease negotiations.

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AcquisitionsHealthcareTexas

Partners Capital Sells 61,165 SF Medical Office Building in Northwest Houston

by Taylor Williams

HOUSTON — Partners Capital, the investment and development arm of Partners Real Estate Co., has sold the Steeplechase Professional Building, a 61,165-square-foot medical office building complex in northwest Houston. Cary Latham of NAI Partners represented Partners Capital, which originally acquired the asset in August 2017, in the transaction. The buyer was not disclosed.

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AcquisitionsHealthcareMixed-UseRetailSoutheastTennessee

PEBB Enterprises Sells Mixed-Use Shopping Center in Suburban Memphis for $35.5M

by John Nelson

GERMANTOWN, TENN. — PEBB Enterprises has sold Germantown Village Square, a 199,142-square-foot mixed-use property located at 7670 Poplar Ave. in the Memphis suburb of Germantown. Evan Halkias and Margaret Jones of Cushman & Wakefield represented PEBB in its $35.5 million sale of the property to Hendon Properties LLC. Germantown Village Square includes 138,995 square feet of ground-floor retail space and 60,147 square feet of second-floor office space occupied primarily by West Clinic, a subsidiary of Baptist Memorial Health Services. Built in 1975 and renovated in 2000, the center was 90 percent leased at the time of sale to tenants including T.J. Maxx, DSW, Ulta Beauty, Old Navy and Five Below.

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AcquisitionsHealthcareNAINew JerseyNortheast

NAI Hanson Brokers Sale of 25,944 SF Medical Office Building in Fair Lawn, New Jersey

by Taylor Williams

FAIR LAWN, N.J. — NAI James E. Hanson has brokered the sale of a two-story, 25,944-square-foot medical office building in the Northern New Jersey community of Fair Lawn. Darren Lizzack and Randy Horning of NAI Hanson represented both the buyer, TYH Acquisitions LLC, and the seller, an entity doing business as 2300 RT 208 LLC, in the transaction. Additional terms of sale were not disclosed.

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HealthcareLeasing ActivityNew YorkNortheast

Day-Op Center of Long Island Signs 13,233 SF Healthcare Lease in Woodbury, New York

by Taylor Williams

WOODBURY, N.Y. — Day-Op Center of Long Island, which provides minor outpatient surgical procedures, has signed a13,233-square-foot healthcare lease at 225 Froehlich Farm Blvd. in Woodbury. The tenant will occupy the entirety of the freestanding building, which is located just off the Long Island Expressway. Timothy Parlante of The Feil Organization internally represented the landlord, which acquired the property in 2018. Eric Launer and Dawn Mirko of JLL represented the tenant.

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