COUNCIL BLUFFS, IOWA — National healthcare real estate developer NexCore Group has broken ground on a 23,000-square-foot, build-to-suit medical office building for OrthoNebraska in Council Bluffs near Omaha. The orthopedic specialty clinic is located at 1260 Valley View Drive near I-80. NexCore will own the project in a joint venture with real estate investment management firm Harrison Street. OrthoNebraska will be the sole tenant. The project team includes general contractor McCarthy Building Cos. and architecture firm Leo A. Daly. Completion is slated for the second quarter of 2022.
CHANDLER, ARIZ. — Stratton Road Realty LLC has purchased Dobson Town Place, a single-story medical office building located in south Chandler. Off Five LLC sold the asset for $10.3 million, or $232 per square foot. At the time of sale, the 44,000-square-foot property was 100 percent leased to a mix of medical, professional office and retail tenants on triple-net leases. Dobson Town Place was built in 2007 and 2008. James Taylor of Orion Investment Real Estate represented the seller in the deal.
PHILADELPHIA — A partnership between New York City-based developer The Plymouth Group and private investment firm Centerbridge Partners LP has broken ground on Budd Bioworks, a 450,000-square-foot life sciences project in Philadelphia. The property will be located at the site of the former plant of The Budd Co., a defunct manufacturer of automotive parts, in Philadelphia’s “Cellicon Valley” area. Budd Bioworks represents Phase I of a larger, 2.4 million-square-foot life sciences development. The development team also plans to incorporate residential, restaurant and retail uses in subsequent phases of the repositioning of the larger Budd Co. campus. Colliers International has been tapped to lease the life sciences component of the project.
AUSTIN, TEXAS — General contractor McCarthy Building Cos. has broken ground on the 365,000-square-foot Texas Children’s Hospital in Austin. The 52-bed facility will provide a range of services for women and children, including neonatal intensive care, pediatric intensive care, postpartum care, diagnostic imaging, acute care and urgent care. The hospital will also have an adjacent, 170,000-square-foot outpatient building that will house specialty care providers and a 1,200-space parking garage. Page is the project architect. Construction is scheduled to be complete in the first quarter of 2024.
INDIANA, NORTH DAKOTA AND TEXAS — Hicks Ventures, a Houston-based privately held development company, has sold three net-leased inpatient rehabilitation facilities for a combined $86.8 million. The PAM/Cobalt Rehabilitation Hospital in Fargo, N.D., sold to Dallas-based MedProperties. The Cobalt Rehabilitation Hospital in Clarksville, Ind., as well as the Cobalt Rehabilitation Hospital in El Paso, Texas, sold to Medical Properties Trust Inc. Hicks developed all three properties from 2018 to 2019. Each hospital offers 42 patient beds, including 12 traumatic brain injury centers. Hammond Hanlon Camp represented Hicks in the transactions.
COON RAPIDS, MINN. — Kraus-Anderson has completed a $5.8 million renovation of Allina Health’s Mercy Hospital in Coon Rapids, a northern suburb of Minneapolis. Designed by Leo A Daly Architects, the 25,000-square-foot project involved the renovation of the third-floor Mercy Specialty Center to accommodate an oncology clinic as well as pharmacy and lab space. The property is located at 11850 Blackfoot Street NW. Construction of the multi-phase project began in September 2020.
SAN ANTONIO — Investment firm IRA Cos. has acquired the Gastroenterology Consultants of San Antonio’s ambulatory surgery center and three of its medical office buildings in San Antonio. The properties total 55,457 square feet. All of the medical office buildings were fully leased to a single tenant at the time of sale. Alan Grilliette and Justin Brasell of Transwestern represented Gastroenterology Consultants of San Antonio as the seller in the transaction.
PITTSBURGH — A partnership between nonprofit developer The University Financing Foundation (TUFF) and full-service firm Collaborative Real Estate has acquired Bridgeside Point, a 160,000-square-foot life sciences facility in Pittsburgh. The property is located adjacent to the University of Pittsburgh and Carnegie Mellon University campuses and includes lab, office and academic space. Patterson Real Estate Advisory Group arranged acquisition financing for the deal through Georgia-based Ameris Bank.
EATONTOWN, N.J. — New Jersey-based brokerage firm R.J. Brunelli & Co. LLC has negotiated a 45,600-square-foot healthcare lease at Monmouth Plaza in the Central New Jersey borough of Eatontown. The tenant, Hackensack Meridian Health, plans to open a new outpatient and urgent care facility at the site in the second quarter of next year. Richard Brunelli of R.J. Brunelli & Co. represented the owner, Monmouth Plaza Enterprises LLC, in the lease negotiations. Danielle Brunelli of R.J. Brunelli & Co. procured the tenant, which was represented in negotiations by Jeffrey Babikian of CBRE.
CHANDLER, ARIZ. — McCarthy Building Cos. and Devenney Group Architects, together serving as the design-build team, have completed Tower D, a patient-care tower at Dignity Health Chandler Regional Medical Center in Chandler. The new facility is scheduled to open to patients in early August. Tower D will serve as the hospital’s main entrance and add 96 patient-care beds, bringing Chandler Regional’s total bed count to 429. The first floor houses the new main hospital entrance and lobby, patient admitting, cardiac rehabilitation, ambulatory therapy unit, gift shop and chapel. The second floor features a surgery registration area, pre-operation and post-anesthesia care units, and 24 thoracic patient rooms. The third and four floors house 36 intensive care rooms and 36 standard patient units, respectively. The fifth floor is shell space for future patient-care beds, while the basement houses the pharmacy, materials management department and a loading dock. Additionally, the construction project included a new parking structure with additional surface parking to accommodate more than 1,100 vehicles, along with renovations to existing space that will allow for eight new surgical suites and an expansion of outpatient services and operational departments. The design-build team will remain on site through spring 2020 to complete the …