Healthcare

Reed Construction to Build 20,000 SF Riverside Medical Center in Frankfort, Ill.

by Danielle Everson March 5, 2015

FRANKFORT, ILL. — Reed Construction will build Riverside Medical Center, a new 20,000-square-foot medical office building for Riverside Healthcare in Frankfort. The property will be located on a 25-acre site at the corner of US 45 and Steger Road. The single-story masonry medical office facility will feature metal panels and a curtain wall glazing system. The medical space will include exam rooms, CT imaging, EKG facilities and infusion bays for Riverside Healthcare, a healthcare system serving the needs of patients throughout the counties of Kankakee, Iroquois, Will and Grundy. Reed Construction will also complete more than 20 acres of site improvements and infrastructure for future development on the property. Scott Pickands and Cy Rangel are the project executives overseeing the project on behalf of Reed Construction. Jack Sbertoli of Reed Construction is leading the project team, which is scheduled to begin construction in April with completion slated for end of the year. Proteus Group is providing the architectural services.

March 5, 2015

Healthcare Illinois Midwest

$2.4M Expansion Begins on Centreville Health Center in Illinois

by Danielle Everson February 10, 2015

CENTREVILLE, ILL. — Construction-management firm IMPACT Strategies has begun construction on a $2.4 million expansion and renovation project at the Southern Illinois Healthcare Foundation (SIHF) Mother and Child Center in Centreville. The multi-phased project is set for completion in October. IMPACT Strategies will renovate approximately 24,000 square feet of SIHF’s current facility at 6000 Bond Ave. The renovation will include five departments. Those include pediatrics, pediatric behavioral health, adult medicine, obstetrics and dental, and the addition of an outpatient pharmacy. The project will involve five to six phases of construction to accommodate the facility’s plans to remain operational while the project is ongoing. The design-build team includes project manager Will Stadjuhar, project assistant Kari Stevens and project superintendent Larry Howard. IMPACT Strategies is collaborating with architectural design firm Bates & Associates of Clayton, Mo.

February 10, 2015

Healthcare Midwest Wisconsin

Ryan Cos. Completes New Clinic for Children’s Hospital of Wisconsin

by Danielle Everson January 29, 2015

DELAFIELD, WIS. — Ryan Cos. US Inc.’s Great Lakes Region has completed the development of the Children’s Hospital of Wisconsin Delafield Clinic, a new 30,000-square-foot clinic in Delafield. The two-story facility is located at 3195 Hillside Drive on a more than five-acre site. Ryan provided development, design-build construction and real estate management services. Ryan’s development/construction team also included division manager Hans Muecke, senior superintendent Les Fialco and senior project assistant Lisa Sefranek. Zimmerman Architectural Studios Inc. served as the project’s architect of record. Eppstein Uhen Architects provided Interior Design services. Associated Bank provided construction financing for the project.

January 29, 2015

Healthcare Midwest Ohio

Equity Inc. to Build 8,000 SF Medical Office Building in Prairie Township, Ohio

by Danielle Everson January 28, 2015

PRAIRIE TOWNSHIP, OHIO — Equity Inc. will build a new 8,000-square-foot, freestanding medical office building in Prairie Township for Liberty Dialysis, an affiliate of Fresenius Medical Care. Construction on the new facility, located at 4500 W. Broad St., is scheduled to begin in April. Liberty Dialysis is an affiliated company of Fresenius Medical Care, developing, owning and operating dialysis clinics throughout the U.S. Fresenius Medical Care produces dialysis equipment and operates a network of more than 2,150 dialysis facilities in North America.

January 28, 2015

Healthcare Illinois Midwest Office

HSA PrimeCare Completes Development of Silver Cross Business Center

by Danielle Everson January 6, 2015

CHICAGO — HSA PrimeCare has completed the development of a 30,000-square-foot business center at Silver Cross Hospital in New Lenox. The two-story administrative building is on the east side of campus located at 1900 Silver Cross Blvd. HSA Primecare has now developed three medical buildings on the Silver Cross campus totaling more than 100,000 square feet. Itasca, Ill.-based Premier Design + Build Group served as the general contractor for the project. Partners in Design Architects provided architectural design services.

January 6, 2015

Market Reports Michigan Midwest Market Reports

Evolving Medical Office Market has Major Implications for Real Estate

by admin March 18, 2013

In the Detroit area and across Southeast Michigan, medical office continues to be a strong performer. With healthcare being one of the state’s largest and fastest-growing economic drivers, an aging population and a robust system of public, private and university hospitals across the region, a generally positive growth trend seems unlikely to change anytime soon. Farbman Group’s own portfolio of 4 million square feet is currently more than 95 percent occupied, and quality medical office space remains in high demand. There are, however, some noteworthy developments taking place both inside and outside the healthcare industry that are shaping its future. Medical office real estate trends locally and regionally are beginning to reflect those changes. Consolidation Wave Perhaps the healthcare trend with the most significant potential to alter the medical office and medical real estate marketplace in Southeast Michigan is that of consolidation — healthcare systems coming together via mergers, acquisitions and strategic partnerships. This trend is, in some respects, similar to what has occurred in the banking industry during the last decade. We are likely to see the same kind of phenomenon continue to pick up momentum in healthcare during the next five years or so. There are three primary …

March 18, 2013

Georgia Market Reports Southeast Market Reports

The medical office market should continue on a slow and steady growth path.

by admin October 23, 2012

Using the turtle and the hare metaphor, it is appropriate to associate Atlanta’s medical office market with the turtle and the metro area’s general office market with the hare. With a few exceptions, Atlanta’s medical office market has continued a slow and steady expansion during the last 30 years. While the size of the medical office market is substantially smaller than the general office market, it has not experienced the booms and busts that have plagued general office market over the same 30 year period. On-campus and Class A medical office buildings have consistently enjoyed 85 percent or greater occupancy. The primary difference in the stability of the two segments of office space is that the demand for general office is driven by the state of the overall economy, while demand for medical office is driven more by the health and size of the general population. Metro Atlanta’s population has increased by more than 51 percent since 1990. The last few years have seen slower growth in the medical office market primarily due to the unknowns of the Affordable Care Act law (Obama-care). Initially, there was uncertainty over whether the law would pass or not. After the law passed, then …

October 23, 2012

Market Reports Michigan Midwest Market Reports

Grand Rapids: Medical Mile serves as a catalyst

by admin March 30, 2012

It was a little less than two decades ago that local business leaders could see what was unfolding in West Michigan. The industrial sector was steadily declining, and companies were either going out of business or moving away. It was evident that something had to be done. That’s when two hometown heroes, Amway founders Richard DeVos and Jay Van Andel, proposed their vision to turn Grand Rapids into one of the top medical services cities in the world. Their leadership and philanthropic efforts spurred a series of events, forever changing the landscape, mentality and image of Grand Rapids. One of the city’s first streets, Michigan Street, running parallel to I-196, was the initial site of their vision. In 1996, Jay and Betty Van Andel founded the Van Andel Institute. They broke ground in 1998, and the Van Andel Institute opened its doors in 2000. The institute is now home to scientific research that is focused primarily on cancer and Parkinson’s disease and has received more than $1 billion in research funding. The original development was a $60 million facility. In 2010, the institute opened a second phase with an additional 242,000 square feet at a cost of $175 million. Butterworth …

March 30, 2012

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