Thursday, May 15, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Healthcare

DevelopmentHealthcareMidwestOfficeWisconsin

Irgens Underway on Conversion of Office Property into Healthcare Space in Waukesha, Wisconsin

by Kristin Harlow

WAUKESHA, WIS. — Irgens is underway on the conversion of an office property to healthcare space in the Milwaukee suburb of Waukesha. The 58,223-square-foot building is part of Stone Ridge Business Park. Irgens recapitalized the project, and construction is set to begin later this month. Renovations will include HVAC upgrades, lobby and common area updates, a new fitness and conference center, and new external signage. EUA is the architect, Catalyst Construction is the general contractor and Summit Credit Union is providing financing. The project, named Stone Ridge Medical Commons, is slated to open in spring 2025. Visage Facial Plastic Surgery and Retina & Vitreous Consultants of Wisconsin have both signed leases at the property and will open offices next year. Ben Anderson of Colliers represented Visage. Markel, the building’s original anchor tenant, is relocating to Research One in the Milwaukee County Research Park.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentHealthcareLeasing ActivityMixed-UseSoutheastVirginia

Trammell Crow Co. Signs 68,000 SF Healthcare Lease with Johns Hopkins in Falls Church, Virginia

by John Nelson

FALLS CHURCH, VA. — Trammell Crow Co. (TCC) has signed a 68,000-square-foot lease with The Johns Hopkins Health System Corp. at The Wellness Center at West Falls in Falls Church. The nonprofit will occupy the fourth, fifth and sixth floors of the 126,000-square-foot property. Andy Thau, Conn Curry and Yorke Allen of JLL are leasing and marketing the remainder of The Wellness Center. The LEED Gold-certified, Class A medical office building that has been open and operating since February. Located at 7171 Cardinal Lane, the property offers curbside patient pick-up and drop-off, locker rooms with showers, an amenity bar, bike storage and covered parking. The Wellness Center is part of the larger West Falls mixed-use development by Hoffman & Associates.

Continue Reading
FacebookTwitterLinkedinEmail
1551-S-Renaissance-Towne-Dr-Bountiful-UT
AcquisitionsHealthcareUtahWestern

Cypress West, TPG Angelo Gordon Buy 112,192 SF Renaissance Medical Center in Metro Salt Lake City

by Amy Works

BOUNTIFUL, UTAH — Cypress West Partners, in joint venture with TPG Angelo Gordon, has acquired Renaissance Medical Center, a medical outpatient building in Bountiful, about four miles north of Salt Lake City. Terms of the transaction were not released. Mountain West Surgical Center, a multi-specialty ambulatory surgical center owned by HCA Healthcare, anchors the 112,192-square-foot property that is located at 1551 S. Renaissance Towne Drive. Eight other medical specialties and services, including orthopedics, physical therapy, imaging, spine and urology, also occupy the property. Newmark Healthcare Capital Markets advised Cypress West Partners and arranged the credit facility on behalf of the joint venture.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHealthcareNew JerseyNortheast

Accordia Buys 57,000 SF Healthcare Property in Warren, New Jersey

by Taylor Williams

WARREN, N.J. — Locally based investment firm Accordia has purchased a three-building, 57,000-square-foot healthcare property in the Northern New Jersey community of Warren. Warren Medical Campus has been a part of Accordia’s portfolio in some form since the firm’s inception in 2005. Accordia purchased the property four months into its founding, owned it until 2015 and continued to manage the property post-sale. Now, as owners for the second time, the firm is making capital improvements to the complex, including updated corridors and doors, renovated common areas, a new courtyard and new signage. The seller and sales price were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
1325-N-Litchfield-Rd-Goodyear-AZ
ArizonaHealthcareLoansWestern

JLL Arranges $13.4M in Refinancing for Medical Office Building in Goodyear, Arizona

by Amy Works

GOODYEAR, ARIZ. — JLL Capital Markets has secured a $13.4 million loan on behalf of PMB for the refinancing of Goodyear Medical Plaza, a Class A medical office building in Goodyear. Daniel Digerness of JLL Medical Properties Capital Markets secured the fixed-rate loan through a national healthcare real estate lender for the borrower. PMB redeveloped Goodyear Medical Plaza from a movie theater into a 47,483-square-foot medical outpatient building for Abrazo Health, part of Tenet Health, in 2019. The single-story building is 99 percent leased to Abrazo Health and affiliated tenants occupying approximately 49 percent of the space and providing services, including orthopedics, cardiology and a wound clinic. Other tenants at the facility include an imaging center, internal medicine, pain management and physical therapy. Goodyear Medical Plaza is located at 1325 N. Litchfield Road on the Abrazo West hospital campus.

Continue Reading
FacebookTwitterLinkedinEmail
2860-S-Circle-Dr-Colorado-Springs-CO
ColoradoHealthcareLoansOfficeWestern

MMCC Arranges $4.7M Loan for Refinancing of Colorado Springs Medical Office Building

by Amy Works

COLORADO SPRINGS, COLO. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $4.7 million loan for the refinancing of a medical office building located at 2860 S. Circle Drive in Colorado Springs. Tenants at the medical office include a mental health clinic, a counseling clinic, an esthetic clinic, an acupuncture clinic and a treatment center. Garrett Fierstein of MMCC secured the financing with a local credit union on behalf of a private client. Terms of the 10-year loan include a 6.75 percent fixed interest rate with a 25 year-amortization schedule and a loan-to-value ratio of 65 percent.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHealthcareMichiganMidwest

Walz Kraft Buys 11,010 SF Medical Office Building in East Lansing, Michigan

by Kristin Harlow

EAST LANSING, MICH. — Walz Kraft Capital Partners has purchased an 11,010-square-foot medical office building in East Lansing for an undisclosed price. The two-story property is fully occupied by Michigan Gastroenterology Institute, which was recently acquired by Pinnacle Gastroenterology Partners. The asset has operated as a gastroenterology clinic since it was constructed in 1998. The current tenant is affiliated with Michigan State University. Seth Haron of Marcus & Millichap represented the seller, while Walz Kraft was self-represented. The transaction marks Walz Kraft’s first acquisition in Michigan and its 18th in the United States.

Continue Reading
FacebookTwitterLinkedinEmail
HealthcareLeasing ActivityTexas

NewQuest Negotiates 35,000 SF Medical Office Lease in Webster, Texas

by Taylor Williams

WEBSTER, TEXAS — Locally based brokerage and investment firm NewQuest has negotiated a 35,000-square-foot medical office lease in Webster, a southeastern suburb of Houston. The tenant, Texas Oncology, is taking space at Webster Town Center, which is located at the intersection of I-45 and Texas Avenue. Kevin Sims and Nick Ramsey of NewQuest internally represented the landlord in the lease negotiations. Nelson Udstuen and Lindsay Arbour of CBRE represented the tenant.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaHealthcareLee & AssociatesOfficeWestern

Lee & Associates Brokers Sale of 20,574 SF Office, Medical Building in Monrovia, California

by Amy Works

MONROVIA, CALIF. — Lee & Associates has arranged the sale of Huntington Professional Center, an office and medical center in Monrovia. The asset traded for $7.6 million. The names of the seller and buyer were not released. Located at 831 E. Huntington Drive, the two-story, 20,574-square-foot property offers 76 surface parking stalls. At the time of sale, the building was fully occupied by a variety of tenants, including Optum Healthcare, Tomdan (parent of Tommy Burgers) and Select Physical Therapy.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentHealthcareNew JerseyNortheast

Atkins Cos. Completes Renovation of 70,140 SF Healthcare Building in Washington Township, New Jersey

by Taylor Williams

WASHINGTON TOWNSHIP, N.J. — New Jersey-based Atkins Cos. has completed the renovation of a 70,140-square-foot healthcare building in Washington Township, about 20 miles south of Philadelphia. The project team converted a former fitness club into 33,000 square feet of clinical healthcare space on the ground floor and 7,000 square feet of leasable space on the second floor. All common areas were upgraded with new lighting, ceilings, flooring, paint/wallcovering, furniture and artwork. Atkins also upgraded building signage, entry points and security systems. Construction began earlier this year.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts