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July 2014 PDF

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Archives: July 2014

Archives: July 2014

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Mission Health at Biltmore Park in Asheville, N.C., is a good example of how health systems are locating outpatient services in easy-to-access, retail-area locations. The 34,469 square foot facility opened in June and sits amid a collection of restaurants, shops and residences that comprise Biltmore Park Town Square. The medical facility, owned and developed by The Keith Corp. of Charlotte, N.C., is home to Asheville-based Mission Health primary care and diagnostic imaging services.
(Photo courtesy of The Keith Corp.)

Cover Story: Development on the mend

Rising demand for outpatient space is fueling the rebound By John B. Mugford As Philip J. “PJ” Camp puts it, healthcare development “fell off a cliff” back in 2009. That cliff, as it’s turned out, has been quite difficult to re-climb, as the number of annual healthcare real estate (HRE) projects has remained relatively flat […]

Transactions: New hospital owner acquires MOB across the street in Downey, Calif.

DOWNEY, Calif. – On the heels of acquiring the former Downey Regional Medical Center, PIH Health recently purchased an MOB across the street from what is now known as PIH Health Hospital–Downey. The not-for-profit health system, which was founded in 1959 and is based in Whittier, Calif., paid $11.3 million for the 56,121 square foot […]

Transactions: ARC Healthcare Trust II continues to make buys, nears closing of offering

NEW YORK – Like its predecessor with a very similar name, ARC Healthcare Trust II Inc. is off to a fast start in the healthcare real estate (HRE) sector. So fast, in fact, that the non-traded real estate investment trust (REIT) is already nearing the possible closing of its public stock offering, which began in […]

Among the recent acquisitions made by Physicians Realty Trust is The Renaissance Center in Oshkosh, Wis. The REIT paid $8.5 million for the 24,622 square foot facility at 2400 Witzel Ave., or about $349 per square foot. Photos courtesy of The Renaissance Center

Transactions: DOC REIT keeps on making buys

Recent acquisitions push Physicians Realty Trust’s portfolio above $500 million By John B. Mugford At the time of its initial public offering a year ago this month, Milwaukee-based Physicians Realty Trust (NYSE: DOC) owned a portfolio of medical properties with a total purchase-price value of about $124 million.

Milwaukee-based Landmark Healthcare Facilities recently broke ground for the $29 million, 90,000 square foot Hospital Hill Outpatient Center on the Truman Medical Centers (TMC) Hospital Hill campus in Kansas City, Mo. (Rendering courtesy of Truman Medical Center)

Outpatient Projects: Downtown hospital bolsters campus

Landmark developing MOB for Truman Medical Centers in Kansas City, Mo. By John B. Mugford Not all new medical office buildings (MOBs) are being built in suburban retail areas away from a health system’s main hospital campus. Truman Medical Centers (TMC) in Kansas City, Mo., in fact, has decided to add a $29 million outpatient […]

Denver-based NexCore Group is developing and will own the two-story, 67,000 square St. Alexius Minot Medical Plaza ambulatory care center in Minot, N.D., serving the growing healthcare need’s of North Dakota’s exploding population.
(Rendering courtesy of NexCore Group LP)

Outpatient Projects: NexCore to develop, own N.D. MOB

Firm is developing 67,000 square foot facility for St. Alexius Medical Center By John B. Mugford As towns in northwestern North Dakota continue to grow amid the oil boom, healthcare providers are feeling the need to expand their offerings to keep up with demand. One such place is Minot, N.D., a city that saw only […]

Outpatient Projects: UH system plans MOB, FED in far southern Cleveland suburbs

BROADVIEW HEIGHTS, Ohio – Cleveland-based University Hospitals (UH) plans to break ground later this year on a $28 million, outpatient health center with a freestanding emergency department (FED) in Broadview Heights, in Cleveland’s far southern suburbs. The proposed 52,000 square foot, $28 million ambulatory health center and FED is slated for a 6-acre site near […]

Outpatient Projects: $50 million virtual medical facility started for Mercy, near St. Louis

CHESTERFIELD, MO. – In the 1980 movie spoof “Airplane,” the late comedic actor Leslie Nielsen, while playing Dr. Shirley Rumack, had an interesting exchange about healthcare real estate (HRE) with flight attendant Elaine Dickinson. Rumack: “You’d better tell the captain we’ve got to land as soon as we can. This woman has to be gotten […]

Outpatient Projects: More Outpatient News

■ A 40,000 square foot facility is underway along Highway 280 in Birmingham, Ala., for MedHelp Clinics, a 33-year-old family medicine and urgent care practice that currently has three locations in the area. The new facility, scheduled to open in spring 2015, will replace another MedHelp clinic nearby. The development team includes local firms; Brasfield […]

Kaiser Permanente’s $1.3 billion replacement campus in downtown Oakland includes a 12-story patient tower with 670,000 square feet of space, two medical office buildings (MOBs), a central utilities plant and a 1,219-space parking garage.
(Photo courtesy of Kaiser Permanente)

Inpatient Projects: Kaiser opens new flagship hospital

New $1.3 billion Oakland Medical Center replaces system’s original facility By John B. Mugford For more than 70 years, the Kaiser Permanente healthcare system and insurance provider has been delivering care at its longtime flagship hospital at Broadway and MacArthur Boulevard, just blocks outside of downtown Oakland, Calif. Even though the old Oakland Medical Center […]

St. Elizabeth’s Hospital and Hospital Sisters Health System recently announced plans for a $300 million, 144-bed replacement for their Belleville, Ill., hospital. The new campus is planned for a 114-acre site in nearby O’Fallon, Ill.
(Rendering courtesy of St. Elizabeth’s Hospital)

Inpatient Projects: Hospital plans $300M replacement

St. Elizabeth’s to relocate to 114-acre campus in O’Fallon, Ill., east of St. Louis By John B. Mugford After 60 years of operating a hospital in the heart of Belleville, Ill., just outside of St. Louis, officials with St. Elizabeth’s Hospital and Hospital Sisters Health System recently announced plans for a replacement facility they say […]

Inpatient Projects: Baptist enters new turf in Arkansas, breaking ground on $130M hospital

CONWAY, Ark. – Even though officials with the only existing hospital in Conway contend that there is no need for more inpatient beds in the city, Little Rock, Ark.-based Baptist Health recently broke ground for a new acute care facility on the outskirts of town. Baptist Health officials were joined by Arkansas Gov. Mike Beebe, […]

Inpatient Projects: Ovieda, Fla., to get its first hospital, which is to be built at site of FED

OVIEDO, Fla. – A fairly common strategy being employed by health systems looking to enter new markets involves developing new freestanding emergency departments (FEDs) in anticipation of someday building new hospitals at the same sites. Central Florida Regional Hospital in Sanford, Fla., which is part of Nashville, Tenn.-based HCA Holdings Inc. (NYSE: HCA), is using […]