Outpatient Projects: More Outpatient Projects
An affiliation between Suncoast Medical Clinic, which has five locations in and around St. Petersburg, Fla., and St. Anthony’s Hospital has risen to a higher level with the completion of a new outpatient center. That $22 million facility, which recently opened on the campus of St. Anthony’s in St. Petersburg, is the new main campus […]
Outpatient Projects: Major Minneapolis hospital venturing west with outpatient project
MINNETONKA, Minn. – Officials with the Hennepin County Medical Center (HCMC) in downtown Minneapolis have come to realize that patients from the suburbs would rather not venture into the city to receive medical care. In fact, they’ve learned that the dislike is especially acute for people living west of Highway 100, just three miles or […]
Outpatient Projects: HSA PrimeCare breaks ground for surgery center in northern Chicago suburbs
VERNON HILLS, Ill. – HSA PrimeCare broke ground in recent weeks for a 15,000 square foot multi-specialty surgery center at 240 Center Dr. in Vernon Hills, in the northern Chicago suburbs.
Outpatient Projects: Old hotel will make way for $34 million Mercy outpatient facility in Branson, Mo
BRANSON, Mo. – Chesterfield, Mo.-based Mercy is certainly a well-known health system in Branson. However, most of the city’s residents need to drive about 35 miles to the north to receive Mercy’s services at its hospital in Springfield, Mo. Starting in 2015, however, that will no longer be the case. Mercy has acquired an abandoned […]
Outpatient Projects: Rendina Cos. developing MOB in S.C.
By John B. Mugford The one-stop shopping concept for outpatient healthcare facilities is coming to the Bluffton and Hilton Head Island area of South Carolina. In recent weeks, Jupiter, Fla.-based Rendina Cos., a healthcare real estate and development firm, broke ground in Bluffton on a $16 million, 60,000 square foot outpatient facility that will offer […]
Hot Property: On-Campus Portfolio Offered in Tenn.
Four MOBs are on the campuses of three Tennova Healthcare system hospitals Name: Tennova MOB Portfolio Number of Buildings: 4 Locations: Tennessee cities of Knoxville, Jefferson City and Powell (2) Size: 204,000 square feet Asking Price: $53.4 million Price Per Square Foot: $261.7 Cap Rate: Not disclosed Years Completed: 2003-07 Annual NOI: Not disclosed Seller: […]
Transactions: More HRE Transactions
With the signing of a new tenant to a 20,000 square foot, 10-year lease, Nashville, Tenn.-based Healthcare Realty Trust (NYSE: HR) has taken Hale Pawa’a, the nine-story, 124,000 square foot MOB it developed in Honolulu in 2010, closer to full occupancy. As of October, reports indicated that the MOB in the heart of Honolulu was […]
Transactions: 1031 Buyers Pay $14.1 Million for MOB in Charlotte Suburb
MINT HILL, N.C. – A New York-based 1031 exchange investment group recently paid $14.1 million for a 42,300 square foot medical facility in Mint Hill, a Charlotte, N.C., suburb. That price works out to about $334 PSF. According to news reports, the seller was the developer of the building, Mint Hill-based Sageworth Properties LLC. Glen […]
Transactions: JV partnership lands MOB for $19.25 million in Claremont, Calif.
CLAREMONT, Calif. – An off-campus MOB in Claremont that is anchored by a hospital in a nearby town traded hands in recent days, fetching a price of $19.25 million, or $393 PSF. The building has 48,984 square feet of space, is 89 percent leased and anchored by nearby Pomona Valley Hospital Medical Center. The seller, […]
Transactions: Health Care REIT Inc. buys MOB outside of Baltimore for $20.6 million, or $367 PSF
COLUMBIA, Md. – Toledo, Ohio-based Health Care REIT Inc. (NYSE: HCN) recently aquired the Charter Professional Builing in Columbia. The real investment trust (REIT) paid $20.6 million for the three-story, 56,103 square foot building, about $367 PSF Marketing the building for the seller, a partnership of physicians known as Aequus I LLC, was Colliers International-Baltimore. Columbia […]
Transactions: Seavest, KIRCO Team for Another Buy
Partners acquire second large multi-specialty outpatient center in Detroit area By John B. Mugford The potential success, or lack thereof, of an off-campus medical office building (MOB) often hinges on a number of factors, with location perhaps being highest on the list. As far as officers with White Plains, N.Y.-based Seavest Healthcare Properties LLC are […]
Transactions: HTA Lands MOB on Doc-Owned Campus
REIT caps quarter with $26.75 million acquisition of Forest Park Pavilion in Dallas By John B. Mugford Forest Park Medical Center in Dallas has to be considered one of the biggest success stories when it comes to beating the odds in the world of new hospital development. That’s because the relatively new hospital, which opened […]
Thought Leaders: MOB Trades Set Record in Annual Transaction Volume
HAMMOND HANLON CAMP LLC Medical Office Building Quarterly Update 2012 was a record-setting year for MOB transaction volume, with nearly $5.57 billion in recorded transaction volume disclosed for the year, the highest of any year since Real Capital Analytics began tracking the data in 2002. The 2012 annual volume total was higher than the total […]
Thought Leaders: The Impact of the Affordable Care Act
By Mark Engstrom Executive Vice President, Acquisitions Healthcare Trust of America, Inc. Healthcare Trust of America, Inc. (“HTA”) is taking note of last year’s most significant events and what impact these will have upon health care delivery in 2013 and beyond. Without question, the most notable event of last year was the Supreme Court decision […]
Industry Pulse: HEALTHCARE SPENDING SET TO REALLY TAKE OFF
Lest anyone forget what a meteoric rise is expected to take place in healthcare spending in coming years, a recent report spells it out rather clearly. Healthcare stocks have been on an impressive run to start 2013, Research Driven Investing at www.RDInvesting.com notes in a recent report. The firm says that the Centers for Medicare […]
