Friday, May 23, 2025
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AcquisitionsFloridaHealthcareRetailSoutheast

SRS Facilitates $2.8M Sale of Tampa Property Leased to Banfield Pet Hospital

by John Nelson

TAMPA, FLA. — SRS Real Estate Partners’ National Net Lease Group has brokered the sale of a 4,000-square-foot single-tenant property located at 12815 Bayou Branch Ave. in Tampa. Banfield Pet Hospital, which is engaged in a 10-year lease, occupies the property. Patrick Nutt, William Wamble and Daniel Becker of SRS arranged the transaction on behalf of the seller, locally based Soho Capital. A private, Florida-based investor purchased the property for $2.8 million in a 1031 exchange. The property is located across the street from North Bay Shopping Center, a 270,000-square-foot retail center anchored by Publix and Lowe’s Home Improvement.

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Loma-Starr-San-Diego-CA
AcquisitionsCaliforniaHealthcareOfficeWestern

Cushman & Wakefield Arranges $7.4M Sale of Loma Starr Medical Office Property in San Diego

by Amy Works

SAN DIEGO — Cushman & Wakefield has facilitated the sale of Loma Starr, a two-building office and medical office property at 3051-3055 Rosecrans St. and 3065 Rosecrans Place in San Diego’s Midway District. Loma Starr LLC, a private investor group, sold the asset to Crown Point Systems for $7.4 million. Totaling 28,630 square feet, the recently renovated property was 91.7 percent leased at the time of sale. The buyer plans to occupy space at the property for its own offices. Peter Curry, Brooks Campbell and Kevin Cuff of Cushman & Wakefield’s Private Capital Group in San Diego represented the seller, while Bret Morriss of Cast Capital represented the buyer in the transaction.

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DevelopmentHealthcareTexas

McCarthy Completes 85,000 SF Cancer Research Center in Tyler, Texas

by Taylor Williams

TYLER, TEXAS — St. Louis-based general contractor McCarthy Building Cos. has completed The Northeast Texas Cancer & Research Institute, an 85,000-square-foot healthcare project in Tyler, about 100 miles east of Dallas. The center is located on the CHRISTUS Mother Frances Hospital campus and features specialized areas for cancer treatment provider Texas Oncology, including 30,000 square feet of clinic space for medical, radiation and gynecologic oncology services, as well as nearly 3,000 square feet of space dedicated to research. Construction began in May 2021 and topped out in March.

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AcquisitionsHealthcareNew JerseyNortheast

NAI Hanson Negotiates Sale of 62,535 SF Medical Office Building in Clifton, New Jersey

by Taylor Williams

CLIFTON, N.J. — NAI Hanson has negotiated the sale of a 62,535-square-foot medical office building in the Northern New Jersey community of Clifton. Darren Lizzack and Randy Horning of NAI Hanson represented the buyer, Rendina Healthcare Real Estate, in the transaction. First Equity Development Co. sold the property, which recently underwent a capital improvement program, for an undisclosed price.

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DevelopmentHealthcareLoansNorth CarolinaSoutheastTop Stories

Gantry Arranges $180M in Construction Financing for VA Medical Clinic Near Raleigh

by Jeff Shaw

GARNER, N.C. — Gantry has arranged $180 million in construction financing for the development of a 250,000-square-foot medical office facility in Garner, a suburb just south of Raleigh. The U.S. Department of Veterans Affairs (VA) has fully pre-leased the property as a community-based outpatient clinic (CBOC) in a long-term agreement. Construction at the 17-acre site is scheduled to begin early next year. Gantry’s George Mitsanas, Peter Hillakas and Austin Ridge secured the construction-to-permanent loan on behalf of a private real estate investment company. One of Gantry’s correspondent life company lenders provided the 22-year loan, which features a fixed rate for the entirety of the loan. The rate was locked earlier this year at time of application. Gantry will act as the loan servicer throughout the loan term. The loan is the fifth in a series of financings this year that Gantry secured on behalf of a sponsor specializing in the construction of VA medical centers, with new loans totaling nearly $500 million in 2022. During the past three years, Gantry has completed over $1.1 billion of project financings for VA medical facilities with various borrowers. “The VA facilities program is part of a strategic effort to expand access to and …

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DevelopmentHealthcareIllinoisMidwest

IMPACT Strategies Begins Construction of 20,000 SF Outpatient Clinic in Godfrey, Illinois

by Kristin Harlow

GODFREY, ILL. — IMPACT Strategies has begun construction of the new BJC Outpatient Center in Godfrey, about 30 miles north of St. Louis. The 20,000-square-foot outpatient clinic marks IMPACT’s eighth project for BJC HealthCare. St. Louis-based SCOUT Capital Group is the developer and Archimages Architects is the project architect. Midwest BankCentre provided funding. Completion is slated for summer 2023.

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AcquisitionsHealthcareMidwestSouth Dakota

Cushman & Wakefield Negotiates $7.6M Sale of Medical Office Building in South Dakota

by Kristin Harlow

DAKOTA DUNES, S.D. — Cushman & Wakefield has negotiated the $7.6 million sale of Tower Medical Plaza in eastern Nebraska’s Dakota Dunes. The property totals 35,130 square feet and is fully leased by seven tenants, including Beth Bruening PC, Dunes Family Pharmacy, ENT Consultants, Fyzical, Kevin L. Preston DO, Dunes Pain Specialists and MercyOne. The building is attached to the Dunes Surgical Hospital. Gino Lollio and Travis Ives of Cushman & Wakefield’s healthcare capital markets team partnered with James Hain and Richard Secor of Cushman & Wakefield/The Lund Co. on the transaction. Florida-based Catalyst Healthcare Real Estate purchased the asset from SSC MOB1.

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DevelopmentHealthcareTexas

Pisula Development Completes 56,100 SF Medical Office Building in Shenandoah, Texas

by Taylor Williams

SHENANDOAH, TEXAS — Locally based firm Pisula Development has completed Vision Park Medical Office Building, a 56,100-square-foot healthcare project in Shenandoah, about 40 miles north of Houston. The three-story building, which carried a price tag of $15.1 million, sits on 3.2 acres and includes 234 parking spaces. The building is currently 80 percent leased to tenants such as Woodlands Center for Specialty Surgery and Physicians Group of The Woodlands.

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777-N-El-Camino-Rd-Encinitas-CA
CaliforniaDevelopmentHealthcareOfficeWestern

Manna Development Group Completes Spec Medical Office Building in Encinitas, California

by Amy Works

ENCINITAS, CALIF. — Manna Development Group has completed construction of a multi-tenant medical office building in Encinitas. Located at 777 N. El Camino Road, the property is the first speculatively built non-owner/user medical office building in 15 years in the city, according to the developer. Totaling 12,200 square feet, the property will feature a 5,675-square-foot ground floor and a 6,502-square-foot second floor. Both floors can be divided into multiple suites. Additionally, the asset will offer reserved and on-site parking. The building is slated for delivery in mid-November. Peter Curry, Brooks Campbell and Owen Curry of Cushman & Wakefield are handling leasing efforts for the property.

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AcquisitionsGeorgiaHealthcareOfficeSoutheast

CBRE Brokers Sale of 149,202 SF Northwest Medical Center in Atlanta

by John Nelson

ATLANTA — CBRE has arranged the sale of Northwest Medical Center, four-story medical office building located in the Buckhead neighborhood of Atlanta. A joint venture between Harrison Street and HealthAmerica Realty Group sold the 149,202-square-foot property for an undisclosed price. Lee Asher, Zack Holderman, Jordan Selbiger, Trent Jemmett and Cole Reeth of CBRE represented the sellers and procured the buyer — Lincoln Advisors, an affiliate of Dallas-based Lincoln Property Company. The center was 81 percent leased at the time of sale, to tenants offering services including internal medicine, dermatology, gastroenterology, orthopedics, OB/GYN, physical therapy, dentistry, concierge medicine, oral surgery, ENT, plastic surgery, periodontics and imaging.

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