Healthcare

VGXI-Conroe

CONROE, TEXAS — VGXI Inc., a biotechnology firm that supports the gene therapy and DNA vaccine industries, will open a new life sciences and headquarters facility in Conroe, about 40 miles north of Houston. Local media outlets, including Community Impact Newspaper and the Houston Business Journal, report that the facility will span 240,000 square feet. The company’s new space will be located within Deison Technology Park and will allow VGXI to quintuple its current production capacity. BE&K Building Group is handling the design and build of the project. Construction is underway, and the facility is expected to be operational by the first quarter of 2022.

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ITASCA, ILL. — Stan Johnson Co. has arranged the sale of a 50,000-square-foot medical office building in Itasca, a western suburb of Chicago, for $20.6 million. The Class A property is located at 870 N. Arlington Heights Road. It is fully leased to a publicly traded healthcare services company under a 15-year net lease. The single-story building sits on six acres and includes traditional office space in addition to specialty pharmacy spaces, walk-in freezers and clean rooms. Construction of the property finished in August of this year. John Zimmerman and Craig Tomlinson of Stan Johnson represented the seller, a regional developer. A private group focused on single-tenant acquisitions was the buyer.

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200-West-Street-Waltham

WALTHAM, MASS. — Translate Bio, an RNA therapeutics company, has signed a 10-year, 138,000-square-foot life sciences lease at 200 West St. in the western Boston suburb of Waltham. Boston Properties (NYSE: BXP) is currently redeveloping the site into a lab property that is slated for completion in 2021 and that is now 100 percent preleased. Building amenities will include a full-service café, fitness center and conferencing facilities. According to the Boston Business Journal, Translate Bio is working with the vaccine unit of pharmaceutical giant Sanofi to use messenger RNA to synthesize antibodies that can fight COVID-19.

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INDIANA, ILLINOIS AND MISSOURI — JLL Capital Markets has brokered the sale of a medical office portfolio spanning seven properties and 439,000 square feet for an undisclosed price. The assets are primarily located on hospital campuses in metro areas within Indiana, Illinois and Missouri. The Class A portfolio is 93 percent leased to healthcare systems such as Ascension, Franciscan, AMITA and University of Missouri Health. Mindy Berman, Daniel Turley, Tim Joyce and Brannan Knott of JLL represented the undisclosed seller. Healthpeak Properties Inc. purchased the portfolio.

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10-Wilson-Road-Boston

BOSTON — Locally based biotechnology firm Ginkgo Bioworks has signed a 38,759-square-foot life sciences lease at 10 Wilson Road in the Cambridge area of Boston. The new space is located within The Quad, a four-building, 510,000-square-foot campus that is being developed in phases by The Davis Companies. McKenna Teague and Erick Smith of CBRE represented the developer in the lease negotiations. Anne Columbia and Patrick Downey of Columbia Group Realty Advisors Inc. represented the tenant.

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GREENFIELD, WIS. — Montecito Medical Real Estate has acquired Aurora Health Center at 84South, a surgical center and medical office building in Greenfield, a suburb of Milwaukee. The purchase price was undisclosed. Built in 2019, the 130,000-square-foot, five-story facility is fully leased to Advocate Aurora Health. It is situated within the larger mixed-use development known as 84South. The property is one of the largest outpatient ambulatory sites for Advocate Aurora Health with eight surgical suites, two pain management procedure rooms, four gastroenterology suites and outpatient interventional radiological suites. The building also serves as a central location for Aurora Children’s Health Services and Aurora’s Sports Health Services. Advocate Aurora Health operates 27 acute care hospitals and employs roughly 3,700 physicians across Wisconsin, Michigan and Illinois.

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ITASCA, ILL. — McShane Construction Co. has completed a new build-to-suit facility for Option Care Health in Itasca. Quadrangle Development Co. and Janko Group were the developers. The 50,000-square-foot, single-story building houses office space, pharmacy and ambulatory infusion sites. There is also a treatment area, showroom space, pharmacy lab area and conference rooms. The building’s warehouse areas feature two walk-in coolers and freezers, two truck docks and two drive-in doors. Wright Heerema Architects and Whitney Architects made up the project team. JLL represented the tenant.

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HOUSTON — Edge Realty Partners has arranged the sale of a 17,150-square-foot medical office building located at 3222 Hillcroft Ave. in between Houston’s Uptown and Westchase neighborhoods. According to LoopNet Inc., the single-story property was built in 1969 and renovated in 2014. Micha Van Marcke and Chace Henke of Edge Realty Partners represented the undisclosed seller in the transaction. Other terms of sale were not released.

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VISTA, CALIF. — Lee & Associates – North San Diego County has brokered the sale a two-building medical office complex located at 1830-1840 West Drive in Vista. Turner Healthcare Facilities Acquisition LLC acquired the property from 1830-1840 West LLC for $3.8 million. The property offers a total of 24,147 square feet of medical office space. Jeff Abramson of Lee & Associates – North San Diego County represented the buyer, while Dave Dean of Commercial Property Advisors represented the seller in the deal.

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EDWARDSVILLE, ILL. — Contegra Construction Co. has completed a 17,000-square-foot medical office building in Edwardsville near St. Louis. Romano Co. was the developer. HSHS Medical Group has leased 13,500 square feet of the single-story facility. The space for HSHS includes 21 exam rooms, three treatment rooms, radiology services, an outpatient physical therapy gym, a conference room, staff break room, doctor’s offices and nurse workstations. An additional 3,500 square feet remains available for lease.

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