Healthcare

NexCore, Banner Health Complete 128,413 SF Medical Center in Glendale, Arizona

by Amy Works May 7, 2021

GLENDALE, ARIZ. — NexCore Group, a national healthcare real estate developer, and Banner Health have opened Banner Health Center Plus in Glendale, the health system’s latest multi-specialty health center. Located at 7701 W. Aspera Blvd., the three-story, 128,413-square-foot center is Banner Health’s largest such facility to date. The property features 128 exam rooms, 13 imaging rooms, and 45 physicians offering comprehensive clinical services such as family medicine, pediatrics, orthopedics, general surgery, dermatology, gastroenterology, cardiology, endocrinology, internal medicine and OB/GYN. Additionally, the center offers lab, pharmacy and advanced CT and MRI imaging services, plus a wellness trail around the site for patients and staff. The development team included SmithGroup as architect and Haydon Building Construction as contractor.

May 7, 2021

Acquisitions Florida Healthcare Mixed-Use Office Southeast

ABS National Business Parks Purchases Gardens Plaza Mixed-Use Property in West Palm Beach for $30.6M

by Julia Sanders May 6, 2021

WEST PALM BEACH, FLA. — ABS National Business Parks has purchased Gardens Plaza, a mixed-use campus in West Palm Beach that comprises of a nine-story office tower, two-story medical office building and a development pad. The locally based developer, Stiles, sold the property for $30.5 million. Gardens Plaza is located on the south side of PGA Boulevard, adjacent to Gardens Mall and less than one mile east of Interstate 95. The property was 85 percent leased at the time of sale to a variety of corporate tenants. The tower spans 86,542 rentable square feet, and the medical office building spans 5,627 square feet and has been occupied by Jupiter Medical since 2016. Christian Lee, José Lobón, Kevin Probel and Kevin McCarthy of CBRE represented the seller in the transaction. Brian Warwick with ABS Altman Warwick LLC worked alongside Amy Julian with CBRE’s Debt & Structured Finance division to secure a 10-year, fixed-rate acquisition loan through JPMorgan. ABS National Business Parks is a New York-based, privately held owner and operator. The company plans to modernize Gardens Plaza, including upgrading to a high-level HEPA air filtration system and updating the building’s four elevators.

May 6, 2021

Development Healthcare Massachusetts Northeast Office

Moderna to Expand Biomanufacturing Campus in Norwood, Massachusetts, by 350,000 SF

by Taylor Williams May 5, 2021

NORWOOD, MASS. — Moderna Inc. will expand its Moderna Technology Center biomanufacturing campus in Norwood, a southern suburb of Boston, by about 350,000 square feet. The biotechnology and pharmaceutical giant plans to renovate and expand its existing production and lab space and has acquired a 240,000-square-foot building on the same campus, ultimately yielding a 50 percent expansion and a total footprint of 650,000 square feet. The expansion will support Moderna’s efforts to ramp up production of its COVID-19 vaccine in late 2021 and early 2022. Moderna originally opened this facility in 2018.

May 5, 2021

Arizona Development Healthcare Western

Kraus-Anderson, MedCraft Breaks Ground on TMC HealthCare’s Ambulatory Surgery Center in Tucson

by Amy Works May 4, 2021

TUCSON, ARIZ. — MedCraft Healthcare Real Estate and TMC HealthCare have partnered to develop an Ambulatory Surgery Center at TMC HealthCare’s Rincon campus located at 10360 Drexel Road in Tucson. The partnership selected Kraus-Anderson as contractor for the $8 million project. The 17,000-square-foot facility will provide additional medical and surgical services, as well as the ability for a 3,000-square-foot future expansion. Designed by Orcutt Winslow, the property will feature rooftop solar panels, low- and no-water use landscaping, a cool roof system to reduce heat island affects, trees to shade the building and glass, and the use of reclaimed water for irrigation. Completion is slated for spring 2022.

May 4, 2021

Acquisitions Georgia Healthcare Southeast Top Stories

Piedmont Healthcare to Purchase Georgia Hospital Portfolio from HCA for $950M

by John Nelson May 4, 2021

ATLANTA AND NASHVILLE, TENN. — Piedmont Healthcare has signed a purchase agreement with HCA Healthcare Inc. (NYSE: HCA) for the acquisition of four Georgia hospitals and one clinic for a purchase price of $950 million. The two parties are targeting a closing date of July 31. Pending regulatory approval, Piedmont will acquire the 310-bed Eastside Medical Center in Snellville and the 119-bed Cartersville Medical Center in Cartersville, which are both located in metro Atlanta. The acquisition will also include three facilities in Macon: the 310-bed Coliseum Medical Center, the 103-bed Coliseum Northside and the 40-bed Coliseum Center for Behavioral Health. With the acquisition, Piedmont Healthcare is continuing to expand its footprint in metro Atlanta as well as strengthen its portfolio of best-in-class hospitals. Nonprofit watchdog organization Leapfrog Group rated HCA’s Coliseum Medical Centers, Coliseum Northside and Cartersville Medical Center as “A” hospitals in its spring 2021 Leapfrog Hospital Safety Grades report released last week. “HCA Healthcare has instilled a high standard of care into these facilities, and we are proud that they have trusted Piedmont to continue this legacy,” says Kevin Brown, president and CEO of Piedmont Healthcare. For HCA, the transaction increases the Nashville-based company’s financial flexibility for investments …

May 4, 2021

Acquisitions Healthcare Midwest Ohio

Montecito Acquires 69,800 SF Surgical Facility in Suburban Cleveland

by Kristin Harlow May 3, 2021

BEACHWOOD, OHIO — Montecito Medical has acquired Beachwood Medical Center in Beachwood, a suburb of Cleveland. Built in 2019, the surgical facility spans 69,800 square feet and is fully leased to an operating entity owned predominantly by Lake Health and University Hospitals. The facility specializes in orthopedics, urology, the spine, general surgery and pain management. Most of the hospital’s surgeries are performed on an outpatient basis, with elective procedures representing 75 percent of the surgical volume. The two-story facility, which also offers physical therapy, advanced imaging and a 24/7 emergency department, includes eight operating rooms, two procedure rooms and 25 patient beds. The purchase price and seller were undisclosed.

May 3, 2021

Wilshire-West-Medical-Tower-Los-Angeles-CA

California Healthcare Loans Office Western

JLL Arranges $42.5M Refinancing for Wilshire West Medical Tower in Los Angeles

by Amy Works May 3, 2021

LOS ANGELES — JLL Capital Markets has secured $42.5 million in refinancing for Wilshire West Medical Tower, a medical office building located in the Brentwood neighborhood of West Los Angeles. Marc Schillinger and Keith Rosso of JLL’s Capital Markets team represented the borrower, a private, Los Angeles-based medical office owner-operator, to secure the long-term, fixed-rate loan. Located at 11645 Wilshire Blvd., the property features 78,702 square feet of medical office space and is leased to a diverse mix of medical office tenants, including physicians, dental practices, plastic surgeons, medical testing and rehabilitation operators and aestheticians.

May 3, 2021

California Healthcare Loans Office Western

Bellwether Enterprise Secures $23.5M Refinancing for Medical Office Buildings in Southern California

by Amy Works May 3, 2021

TORRANCE, CALIF. — Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, has arranged $23.5 in refinancing for two medical office buildings in Torrance. The properties are a 37,143-square-foot, four-story building on 1.67 acres at 3500 Lomita Ave. and a two-story, 42,101-square-foot building on 2.7 acres at 23560 Madison St. The undisclosed borrower acquired both assets in 2008. Kevin Mulvaney of Bellwether Enterprise’s Los Angeles office arranged the loan with MetLife.

May 3, 2021

Development Healthcare North Carolina Office Southeast

Welltower Completes Two Medical Office Buildings in Charlotte Totaling 280,000 SF

by Julia Sanders April 30, 2021

CHARLOTTE, N.C. — Welltower Inc. has completed two medical office buildings in Charlotte totaling 280,000 square feet. Atrium Health, which owns the adjacent Carolinas Medical Center, signed a 15-year triple-net lease for the two buildings. Charlotte-based Pappas Properties LLC developed the properties and will remain strategic partners with Toledo, Ohio-based Welltower for the planned nine-acre, healthcare anchored mixed-use campus, as well as future developments. The two medical office buildings include a nine-level, 1,440-space parking deck that will be shared with the entire mixed-use campus. Atrium’s Sanger Heart and Vascular Institute and Atrium Health General Clinics including neurosciences, gastroenterology, infectious disease and palliative care opened in April 2021.

April 30, 2021

Development Healthcare Texas

JLL Tops Out 365,000 SF Memorial Hermann The Woodlands Medical Center in Metro Houston

by Taylor Williams April 29, 2021

THE WOODLANDS, TEXAS — JLL’s Project & Development Services division has topped out Memorial Hermann The Woodlands Medical Center, a 365,000-square-foot medical office project located about 30 miles north of Houston. Construction of the nine-story building began in early 2020 and is expected to be complete in spring 2022. Austin Commercial is serving as the general contractor of the project. PhiloWilke served as the architect, and SSA was the engineer. JLL’s Project & Development Services division is leading development of the project along with Memorial Hermann Hospital System’s executive team.

April 29, 2021

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