SAN ANTONIO — Dallas-based Everest Rehabilitation Hospital will open a $24 million inpatient facility on an 8.1-acre site on SE Military Parkway in San Antonio. The property will span 40,000 square feet and offer 36 beds designed to resemble a hotel rather than an acute care hospital. The facility will also include inpatient and outpatient therapy gyms, an outdoor mobility courtyard for therapeutic use, Hydroworx aqua therapy, several family gathering areas, a dining hall, in-house dialysis center and an in-house pharmacy. A construction timeline was not released.
SEGUNDO, CALIF. — California-based Matthews Real Estate Investment Services has brokered the sale of a portfolio of five healthcare properties in Texas totaling 37,282 square feet. The properties, which were originally constructed in 2015 as build-to-suits for emergency care provider Neighbors, are located in Lufkin, Grand Prairie, El Paso, Lake Jackson and Victoria. Neighbors went bankrupt shortly after the properties were built. Rahul Chhajed and Michael Moreno of Matthews represented the undisclosed buyer, which has converted the assets into surgery centers and signed long-term leases with a new operator.
NEWNAN, GA. — Remedy Medical Properties has developed Piedmont Medical Plaza II, a five-story, 113,000-square-foot outpatient facility located on the Piedmont Newnan Hospital campus in Newnan. Construction of the medical office building began in September 2019 and is now open to the public. Located at 795 Poplar Road, Piedmont Medical Plaza II is close to Interstate 85 and is approximately 29 miles from Hartsfield-Jackson Atlanta International Airport. The facility offers parking for patients, physicians and staff. The medical office building will offer healthcare services including cardiology, cardiovascular imaging, cardiac and pulmonary rehab, general surgery, neurology, orthopedics, physical therapy and occupational therapy. Atlanta-based Carter assisted in the site selection, local permitting and construction oversight. West Point, Ga.-based Batson-Cook Construction was the general contractor, and Nashville-based ESa was the architect. Remedy owns and will manage the facility, as well as provide strategic planning, development and leasing services. Some tenant space still remains for leasing in the new medical building.
NEW YORK CITY — Locally based developer The Georgetown Co. has signed leases with two tenants to its 200,000-square-foot life sciences project at 787 11th Ave. on Manhattan’s Far West Side. The property is now fully preleased. Healthcare provider Mount Sinai signed a long-term lease for 165,000 square feet, and scientist and designer Neri Oxman inked a deal to operate a 36,000-square-foot space. The property houses space for lab, office, research and biomedical uses.
NORTHBOROUGH, MASS. — A joint venture between Connecticut-based Wheelock Street Capital and Camber Development has purchased Sanofi Genzyme’s Northborough Global Operations Center, a 212,000-square-foot life sciences building in Northborough, located outside of Worcester. The sales price was $33 million. The property is situated on a 19.3-acre site and was fully leased at the time of sale. Coleman Benedict, Matthew Sherry, Ben Sayles, Michael Restivo and Corbin Stall of JLL represented the buyer in the deal. The seller was Chicago-based Capri EGM.
FAYETTEVILLE, N.C. — Stan Johnson Co. has brokered the $10 million sale of a 28,434-square-foot, multi-tenant medical office building located at 3401 Village Drive in Fayetteville. Stan Johnson’s Scott Briggs represented the seller, an individual investor and developer based in North Carolina. The property, known as Village Medical Plaza, was purchased by an out-of-state private fund whose name was not disclosed. Village Medical Plaza features both medical and traditional office space and is fully leased to three tenants: the U.S. General Services Administration (GSA) for an initial 15-year term, the State of North Carolina Department of Revenue for an initial 10-year term and Piedmont Physical Therapy Specialists for an initial term of seven years. The three-story property was built in 2017 and sits on 1.3 acres in a medical and office district immediately adjacent to Cape Fear Valley Medical Center, a 200-bed acute care facility that treats more than 1 million patients annually.
FLORHAM PARK, N.J. — JLL Income Property Trust has acquired 170 Park Avenue, a 147,000-square-foot life sciences building in the Northern New Jersey city of Florham Park. The sales price was approximately $47 million. The property is net leased on a long-term basis to biotechnology firm Celularity Inc. Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Gene Pride, Travis Langer, Zach McHale and Tom Sullivan of CBRE represented the undisclosed institutional seller. With this acquisition, JLL Income Property Trust now owns five life sciences properties totaling more than 450,000 square feet that are valued in excess of $215 million.
BROOKLYN PARK, MINN. — Minneapolis-based Davis has been selected by Allina Health and Surgical Care Affiliates to develop and own the venture’s first ambulatory surgery center in Brooklyn Park, a northwest suburb of the Twin Cities. Davis expects to break ground in late April or early May on the two-story, 40,000-square-foot project. Allina and Surgical Care Affiliates will lease 18,000 square feet on the second floor. The project team includes Plymouth, Minn.-based Timco Construction Inc. and Minneapolis-based Synergy Architecture Studio. Completion is slated for the end of first-quarter 2022.
WINSTON-SALEM, N.C. — Novant Health, an integrated network of physician clinics, outpatient centers and hospitals, has invested $222 million for a new critical care building in Winston-Salem. The development is a part of expansions and renovations at Novant Health Forsyth Medical Center campus, located at 3333 Silas Creek Parkway. The new building will be constructed on the current site of the rehabilitation center, which is being demolished. The expansion will feature 60 critical care beds and 36 intermediate beds in the surgical suite. The patient rooms will be bigger than previously, providing more privacy and flexible space. In 2019, Novant Health invested over $180 million in the medical facility for development of Phase I, which is currently under construction and includes renovation of patient rooms and improvements on the women’s and children’s center. The critical care building is part of Phase II, which will raise the amount of pre- and post-operation space, as well as reduce travel time within the hospital. “Once complete, the critical care building will combine medical expertise and an optimally designed space that prioritizes patient experience and healing,” says Lari Harding, chair of the Novant Health Triad Region Board of Trustees. — Julia Sanders
GILBERT, ARIZ. — Houston-based Nutex Health, a service provider and management firm in the micro-hospital and freestanding emergency room industry, has acquired Gilbert Emergency Hospital, a medical facility located at 5656 S. Power Road in Gilbert. MPT Operating Partnership LP DBA MPT of Gilbert LLC sold the asset for $10.5 million. Built in 2005, the 31,452-square-foot medical office serves as a privately run emergency facility with 42 acute-care beds. The property is Nutex’s third facility in Arizona and 23rd facility in the United States. Philip Wurth and Alexandra Loye of Colliers represented the seller, while Christian Giles of Arizona Healthcare Realty represented the buyer in the deal.