Healthcare

Overland Group Breaks Ground on Avondale Commons Mixed-Use Project in Arizona

by Amy Works November 14, 2022

AVONDALE, ARIZ. — Overland Group as developer and Overland Construction as general contractor have broken ground on Avondale Commons, a 22.6-acre mixed-use development on the northwest corner of Avondale Boulevard and McDowell Road in Avondale. Upon full build-out, the development will offer four residential buildings, a hotel, two restaurants, four office buildings and retail space. The first portion of the four-building, 39,650-square-foot medical office complex is underway, with delivery slated for second-quarter 2024. Avondale Commons will feature modern, four-sided architectural design in a garden office setting with highly visible monument signage on McDowell Road and Avondale Boulevard. The office and retail space, including dining and boutique amenities, will be finished in 18 months and is available for pre-leasing. The residential portion is slated for completion in 30 months, with the hotel and conference facilities being completed shortly after. Philip Wurth and Brian Woods of Colliers in Arizona are the exclusive leasing agents for the office and retail portions of the project.

November 14, 2022

Healthcare Leasing Activity Michigan Midwest Office

North Shore Health Services Signs 11,600 SF Office Lease in Bay City, Michigan

by Kristin Harlow November 11, 2022

BAY CITY, MICH. — North Shore Health Services has signed an 11,600-square-foot office lease in Bay City, which is located near the base of the Saginaw Bay on Lake Huron. The property is located at 1426 Straits Drive. The tenant provides behavior analysis therapy for children and families, particularly those diagnosed with autism. North Shore plans to open in December. Colliers Lansing represented the landlord, Cats Holding Co. LLC. North Shore opened its first location in Auburn in 2017 and has since opened locations in Ithaca and Lansing.

November 11, 2022

Acquisitions Healthcare Nevada Retail Western

Omninet Capital Divests of 83,930 SF Retail, Medical Plaza in Las Vegas for $25M

by Amy Works November 11, 2022

LAS VEGAS — Beverly Hills, Calif.-based Omninet Capital has sold Nellis Plaza, a retail and medical center in Las Vegas, to Glen Una Management for $25 million. The transaction is the buyer’s first major retail acquisition in the Las Vegas market. Situated on 7.5 acres at 305-325 N. Nellis Blvd., Nellis Plaza features 83,930 square feet of retail and healthcare space. At the time of sale, the property was 98 percent occupied, with only 1,200 square feet vacant. Marlene Fujita Winkel, Charles Moore, Emily Brun and Alex Casingal of Cushman & Wakefield’s Private Capital Group in Las Vegas represented the seller in the deal.

November 11, 2022

Acquisitions Healthcare Texas

Big Sky Medical Acquires 38,370 SF Healthcare Property in San Antonio

by Taylor Williams November 9, 2022

SAN ANTONIO — Dallas-based investment firm Big Sky Medical Real Estate has acquired Alamo Quarry Center, a 38,370-square-foot healthcare property located at 250 E. Basse Road in San Antonio. Methodist Healthcare anchors the property, which was 93 percent occupied at the time of sale. Travis Ives, Gino Lollio, Todd Mills, Carrie Caesar, Hunter Mills and Travis Crow of Cushman & Wakefield brokered the deal on behalf of the seller, Dallas-based Mohr Capital. The sales price was not disclosed.

November 9, 2022

Healthcare Leasing Activity Texas

American Family Care Signs Four Healthcare Leases Totaling 12,600 SF in Houston Area

by Taylor Williams November 9, 2022

HOUSTON — American Family Care, which provides urgent care and walk-in healthcare services, has signed a quartet of leases totaling 12,600 square feet in the Houston area. The spaces are located in Sugar Land (2,700 square feet), Katy (2,800 square feet), Elyson (3,400 square feet) and Kingwood (3,700 square feet). John Frazier of Houston-based brokerage firm Baker Katz represented the tenant in all four sets of lease negotiations.

November 9, 2022

Development Healthcare Leasing Activity Mixed-Use Montana Retail Western

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

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