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Healthcare

El-Dorado-Health-Center-Placerville-CA
CaliforniaDevelopmentHealthcareWestern

Neenan Co. Breaks Ground on Community Health Center in El Dorado County, California

by Amy Works

PLACERVILLE, CALIF. — The Neenan Company has broken ground for El Dorado Community Health Center (EDCHC), a medical clinic at 4212 Missouri Flat Road in Placerville that will serve residents throughout El Dorado County. Designed by Neenan, the 30,600-square-foot facility will feature 40 primary care exam rooms, 10 behavioral health exam and substance abuse treatment rooms, seven dental exam rooms and four optical exam rooms, as well as space to provide telehealth treatment. Slated for completion in spring 2022, the new facility will replace EDCHC’s current Placerville and Diamond Springs clinics. EDCHC will own and operate the completed facility and the organization received financing for the project, as well as a Health Resources and Services Administration grant to mitigate future weather-related issues.

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147-Milk-St.-Boston
AcquisitionsHealthcareMassachusettsNortheast

Newmark Arranges Sale of 52,337 SF Medical Office Building in Downtown Boston

by Taylor Williams

BOSTON — Newmark has arranged the sale of a 52,337-square-foot medical office building located at 147 Milk St. in downtown Boston. The 10-story property was fully leased at the time of sale to Atrius Health/Harvard Vanguard Medical Associates, the largest independent physicians’ group in New England. Robert Griffin, Frank Nelson and Michael Greeley of Newmark represented the seller, New York City-based institutional investment firm BentallGreenOak, in the transaction. The trio also procured the buyer, KanAm Grund, an investment firm based in Frankfurt, Germany.

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226-Harvard-Ave.-Boston
AcquisitionsHealthcareMassachusettsNortheastRetail

Newmark Brokers $11.9M Sale of Retail, Medical Office Building in Boston

by Taylor Williams

BOSTON — Newmark has brokered the $11.9 million sale of a 27,930-square-foot retail and medical office building located at 226 Harvard Ave. in the Allston neighborhood of Boston. The property was 94 percent leased at the time of sale to Urban Outfitters, Steward Medical Group and Unleashed by Petco. Robert Griffin, Geoffrey Millerd, Frank Nelson, Michael Greeley, Jonathan Martin, Paul Penman, Mathew Adler, Christopher Huesgen and Coley Cannon of Newmark represented the seller, National Development, in the transaction. The team also procured the buyer, Charlotte-based investment firm Asana Partners.

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West-Medical-One
DevelopmentHealthcareTexas

Healthpeak Properties to Renovate 168,790 SF Medical Office Building in Houston

by Taylor Williams

HOUSTON — Denver-based REIT Healthpeak Properties Inc. (NYSE: PEAK) will renovate West Medical One, a 168,790-square-foot medical office building located on the HCA Houston Healthcare West campus. The project will add new patient drop-off areas, dining spaces, a tenant lounge and medical spec suites, as well as upgrade the lobby and other common areas. Healthpeak is in the process of securing permits and expects to complete the renovations in the first quarter of 2022. Identity Architects is designing the project, and E.E. Reed Construction is the general contractor.

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DevelopmentHealthcareLife SciencesNortheastOfficePennsylvania

PIDC, Ensemble, Mosaic to Build 220,000 SF Life Sciences Project at Philadelphia Navy Yard

by Taylor Williams

PHILADELPHIA — PIDC, in partnership with Ensemble Real Estate Investments and Mosaic Development Partners, will build a 220,000-square-foot life sciences project at the Philadelphia Navy Yard. The two-building project is part of the $400 million Phase I of a $2.5 billion expansion at the 7.5 million-square-foot mixed-use development. The building at 1201 Normandy Place will span 100,000 square feet of lab, office and research and development space. The building at 33 Rouse Blvd. will total 120,000 square feet and will house similar uses, along with manufacturing and warehousing space. Both buildings are slated for completion by the end of 2022. PIDC is the public-private partnership behind and master developer of the Philadelphia Navy Yard.

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HealthcareLeasing ActivityTexas

Kelsey-Seybold to Open 7,500 SF Healthcare Clinic in Houston Shopping Center

by Taylor Williams

HOUSTON — Healthcare provider Kelsey-Seybold will open a 7,500-square-foot clinic at Shops at Stone Park, a 149,029-square-foot shopping center located at 5820 E. Sam Houston Parkway in Houston’s North Channel submarket. The tenant will occupy a junior anchor space formerly leased to Dressbarn. A tentative opening date was not released. Ashley Strickland, Nick Ramsey and Kevin Sims internally negotiated the lease on behalf of the owner, Houston-based NewQuest Properties.  

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Jefferson-Health-Philadelphia
DevelopmentHealthcareLoansNortheastPennsylvania

JLL Arranges $220M Construction Loan for Downtown Philadelphia Healthcare Project

by Taylor Williams

PHILADELPHIA — JLL has arranged a $220 million construction loan for a 452,000-square-foot healthcare project that will be located at 1101 Chestnut St. in downtown Philadelphia’s Center City district. Jefferson Health will occupy the 19-story ambulatory clinic, which is expected to be complete in the first quarter of 2024. Chad Orcutt and Jim Galbally of JLL arranged the debt through a syndicate of banks on behalf of the development team, a joint venture between National Real Estate Advisors LLC, Joss Realty Partners, SSH and Young Capital.

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AcquisitionsHealthcareNortheastPennsylvania

Montecito Medical Buys 20,650 SF Ambulatory Surgery Center Near Pittsburgh

by Taylor Williams

CRANBERRY TOWNSHIP, PA. — Montecito Medical, a Nashville-based healthcare investment firm, has purchased The Surgery Center at Cranberry, a 20,650-square-foot ambulatory surgery center near Pittsburgh. The two-story building was built in 2003 and was fully leased to Scott & Christie Eyecare Associates at the time of sale. The first floor houses three operating rooms, two procedure rooms, one laser room and 15 pre- and post-operative pods. Clinical and office spaces are located on the second floor.

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349-E-Coronado-Rd-Phoenix-AZ
AcquisitionsArizonaHealthcareOfficeWestern

Marcus & Millichap Brokers $4.3M Sale of Medical Office Property in Phoenix

by Amy Works

PHOENIX — Marcus & Millichap has negotiated the sale of a two-tenant medical office building located at 349 E. Coronado Road in Phoenix. A limited liability company sold the property to a California-based buyer in a 1031 exchange for $4.3 million. Arizona Digestive Health and Phoenix Endoscopy occupy the 11,760-square-foot asset, which was built in 2003 on 1.7 acres. The property is 60 percent medical office and 40 percent licensed surgery center. Alan Laulainen, Chris Lind and Mark Ruble of Marcus & Millichap’s Phoenix office represented the seller in the deal.

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DevelopmentHealthcareLife SciencesNortheastOfficePennsylvania

Brandywine, PABC to Develop 50,000 SF Life Sciences Project in Philadelphia

by Taylor Williams

PHILADELPHIA — A partnership between locally based REIT Brandywine Realty Trust (NYSE: BDN) and the Pennsylvania Biotechnology Center (PABC) will develop a 50,000-square-foot life sciences project in Philadelphia. The property will be located adjacent to Brandywine’s Schuylkill Yards mixed-use development in the University City area. Construction is scheduled to begin immediately and to be complete in the fourth quarter.

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