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Healthcare

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DevelopmentHealthcareNew JerseyNortheast

Cooper University Health Care Breaks Ground on 335,000 SF Facility in Camden, New Jersey

by Taylor Williams

CAMDEN, N.J. — Cooper University Health Care has broken ground on a 335,000-square-foot facility in Camden, located outside of Philadelphia in Southern New Jersey. The 10-story patient tower will feature 125 private rooms, additional operating rooms and research/education areas. In addition, the building will connect to several of the healthcare provider’s existing facilities, including the MD Anderson Cancer Center, via a new pedestrian bridge. HKS Architects and Array Architects designed the facility, and the engineering team includes O’Donnell & Naccarato, Langan, BR+A Consulting Engineers and Highland Associates. Completion of the project, which is part of a larger $3 billion expansion to the provider’s Camden footprint, is slated for 2028.

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HealthcareLoansTexas

Cushman & Wakefield Arranges Financing for 110,636 SF Healthcare Portfolio in Metro Houston

by Taylor Williams

HOUSTON — Cushman & Wakefield has arranged an undisclosed amount of financing for a portfolio of three healthcare assets totaling 110,636 square feet in the Houston area. The portfolio comprises medical office buildings that were built between 2015 and 2017 and were fully leased to regional provider Memorial Hermann Health System at the time of the loan closing. Buildings range in size from 30,523 to 47,859 square feet and are located in League City, Spring and Katy. The financing represents a senior loan provided by a syndicate of lenders that includes Siemens and First Horizon Bank. Tyler Morss and Gideon Gil of Cushman & Wakefield arranged the financing on behalf of the owner, a partnership between Big Sky Medical and GFH Partners.

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DevelopmentHealthcareSouth CarolinaSoutheast

Frampton Construction Breaks Ground on 54,000 SF MUSC Medical Facility in Bluffton, South Carolina

by John Nelson

BLUFFTON, S.C. — Frampton Construction has broken ground on a new 54,000-square-foot medical office building for the Medical University of South Carolina (MUSC) in Bluffton. Located at 700 Buckwalter Towne Blvd., MUSC Health Bluffton Medical Pavilion will house a variety of medical specialties, including primary and urgent care, vascular treatment, oncology and pediatrics. The facility will include three floors — which will span 18,000 square feet each — a sleep lab, cardiovascular lab, chemotherapy compounding pharmacy, an instrument sterilization room, exam rooms and telehealth stations, lead-lined X-ray facilities, offices, conference rooms and a break room and a phlebotomy corridor with four blood drawing stations. Additional safety features of the facility will include a large registration area with clear sight lines, an employee entry vestibule with badge access and a negatively pressurized compounding pharmacy. The building’s exterior will include a canopied patient drop-off area, 259 parking spots, seven additional ADA-compliant parking spaces and a mobile MRI trailer support pad. Completion of the project is slated for spring 2026. The design-build team includes Novus Architects (architect), Moore Lindner Engineering (structural engineer), Cranston Engineering (civil engineer) and DWG Inc. (MEP engineer). Additionally, Revit and Navisworks Manage will coordinate virtual design and MEPF (mechanical, …

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AcquisitionsHealthcareMidwestMinnesota

Marcus & Millichap Negotiates $2.8M Sale of Veterinary Office Portfolio in Minnesota

by Kristin Harlow

NEW ULM AND MANKATO, MINN. — Marcus & Millichap has negotiated the sale of two single-tenant animal hospital properties in Minnesota for $2.8 million. The portfolio includes New Ulm Regional Vet Center at 401 20th St. in New Ulm and River Hills Pet Care Hospital at 340 St. Andrews Drive in Mankato. The New Ulm property was built in 1998, and the Mankato facility was constructed in 2017. Both are fully leased to PetVet Care Centers, which has operated at both locations since 2019. PetVet was founded in 2012 and currently has more than 450 veterinary locations nationwide. William Skoch and Christopher Mitchel of Marcus & Millichap represented the seller, a group of six veterinarians who had owned the buildings for more than 27 years, and procured the buyer, a real estate investment trust focused exclusively on acquiring veterinarian-centric real estate nationwide.

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HealthcareLeasing ActivityTexas

Edloe Health Network Opens 16,100 SF Medical Office Building in Sugar Land, Texas

by Taylor Williams

SUGAR LAND, TEXAS — Edloe Health Network has opened a 16,100-square-foot medical office building in Sugar Land, a southwestern suburb of Houston. The provider occupies 5,600 square feet of the building, and 8,000 square feet is leased to the Texas Advanced Surgery Center. Houston-based Identity Architects and Identity Built served as the architect and design-build firm for the project. JLL spearheaded leasing efforts at the property.

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AcquisitionsHealthcareOfficeSoutheastVirginia

KLNB Negotiates $7.9M Sale of Medical Office Building in Fairfax, Virginia

by John Nelson

FAIRFAX, VA. — KLNB has negotiated the $7.9 million sale of a multi-tenant medical office building in Fairfax, 14 miles outside Washington, D.C. Joe Friedman and Josh Norwitz of KLNB represented the seller and procured the buyer in the transaction. Both parties were not disclosed. Totaling 54,085 square feet, the property was 40 percent leased at the time of sale by medical tenants including sports rehab, post-op rehab, dentistry and behavioral health groups. Located at 8500 Executive Park Ave., the property is situated in a medical office cluster near major healthcare facilities such as Children’s National Hospital and Inova Fairfax Hospital.

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AcquisitionsFloridaHealthcareSoutheast

Marcus & Millichap Facilitates $23.4M Sale of Medical Office Building in Fort Walton Beach, Florida

by John Nelson

FORT WALTON BEACH, FLA. — Marcus & Millichap has facilitated the $25.4 million sale of a 46,992-square-foot, multi-tenant medical office building in the Florida Panhandle city of Fort Walton Beach. Built in 2008, the three-story property is fully occupied by Orthopaedic Associates and Surgical Specialists ASC on a 15-year triple-net lease basis. Frank Roti, Brett Rodgers and Alex Sacks of Marcus & Millichap represented the seller, Emerald Coast Diversified Properties LLC, and procured the buyer, Montecito Medical Real Estate, in the transaction. Ryan Nee served as Marcus & Millichap’s broker of record in Florida for the deal.

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AcquisitionsHealthcareNew JerseyNortheastRetail

Marcus & Millichap Brokers $5.4M Sale of Southern New Jersey Healthcare, Retail Property

by Taylor Williams

DEPTFORD, N.J. — Marcus & Millichap has brokered the $5.4 million sale of Medical at Riverwinds, a 23,525-square-foot healthcare and retail property in Deptford, located outside of Philadelphia in Southern New Jersey. The two-building property sits on 2.2 acres and was fully occupied at the time of sale. Brent Hyldahl, Alan Cafiero and Seth Goldberg of Marcus & Millichap represented the seller, Strategic Funding Alternatives LLC, in the transaction and procured the buyer, a New York-based private investor.

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AcquisitionsHealthcareSoutheastTennessee

Cypress West, TPG Angelo Gordon Acquire 47,000 SF Medical Office Building in Franklin, Tennessee

by John Nelson

FRANKLIN, TENN. — A joint venture between Cypress West Partners and TPG Angelo Gordon has purchased Cool Springs Professional Center, a 47,000-square-foot medical office building located at 2001 Mallory Lane in Franklin, a suburb of Nashville. The seller and sales price were not disclosed. Built in 1996, the property’s tenant roster includes Vanderbilt University Rheumatology and Results Physiotherapy, among other medical practitioners that collectively have a weighted average lease term (WALT) of 4.9 years. Cool Springs Professional Center represents the first Tennessee acquisition and eighth purchase overall for the Cypress West-TPG Angelo Gordon joint venture, which seeks to acquire up to $300 million in medical office assets in West Coast and Sun Belt markets.

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AcquisitionsColoradoHealthcareWestern

Profere Partners Disposes of 104,438 SF Longmont Medical Campus in Colorado

by Amy Works

LONGMONT, COLO. — Broomfield, Colo.-based Profere Partners has completed the disposition of Longmont Medical Campus, a medical outpatient building located at 1551 Professional Lane in Longmont. Terms of the transaction were not released. Originally built in 2002 and most recently renovated in 2022, the two-story multi-tenant facility offers 104,438 square feet of medical office space. At the time of sale, the property was 92 percent leased to 19 tenants, anchored by University of Colorado Medicine. Aaron Johnson, Travis Ives, Jon Hendrickson, Mitch Veremeychik, Gino Lollio and Tyler Morss of Cushman & Wakefield represented the seller in the deal.

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