Transactions: More Healthcare Real Estate Transactions
A joint venture (JV) of Miami-based Flagler Investment Property Group and a medical tenant, the Orthopedic Medical Center of Palm Beach County, recently acquired the JFK Medical Arts building in Atlantis, Fla., for $12.5 million. The 52,149 square foot MOB is at 180 John F. Kennedy Drive and is fully occupied. The seller was Coral […]
Hot Property: Former Winn-Dixie is now an MOB
Local doctor acquired, then remodeled grocery store space in New Albany, Ind. Name: New Albany MOB Address: 2125 State St. City, State: New Albany, Ind. Total leasable space: 59,587 s.f. Occupancy: 95% Land size: 8.3 acres Built/remodeled: 1996/2005 Largest tenant: Floyd Memorial Hosp. Brokerage: Marcus & Millichap Seller: Akin Properties LLC Brokers: John Smelter, Nicholas […]
Transactions: Wheaton, Ill., physician sells MOBs for $17M to Inland Group fund
WHEATON, Ill. – A physician based in Wheaton, in the west suburbs of Chicago, recently netted a better return selling real estate than he probably ever could for treating his primary care patients.
Transactions: MedProperties Group buys Thunderbird Wellness Centre in Peoria, Ariz.
PEORIA, Ariz. – Northbrook, Ill.-based MedProperties Group recently paid $15.5 million, or $276 PSF, for the 56,411 square foot, four-building Thunderbird Wellness Centre in Peoria, in the West Valley of Greater Phoenix.
Outpatient Projects: Big MOB rehab shaping up in Atlanta
HealthAmerica starts project at one of the city’s most desirable medical locations By John B. Mugford For a number of years now, Thomas W. “Tommy” Tift III and his team at Atlanta-based HealthAmerica Realty Group waited for the right time to start a major remodeling of its signature medical office building (MOB) in the northern […]
Outpatient Projects: Massive, $500 million facility to bolster outpatient care at Rush in Chicago
CHICAGO – With its outpatient space busting at the seams, Rush University Medical Center plans to build a new facility just across the street from its main hospital tower just outside of downtown Chicago.
Outpatient Projects: Duke Realty’s outpatient project on new campus in Illinois moving forward
HUNTLEY, Ill. – Indianapolis-based Duke Realty Corp. is planning an 80,000 square foot MOB, maintenance facility and ambulatory care mall on a new campus being built by Centegra Health System in Huntley, a far northwestern suburb of Chicago.
Inpatient Projects: Gary, Ind.-based system moving forward with $134 million in projects
GARY, Ind. – Gary-based Methodist Hospitals recently broke ground on a renovation of the ER and intensive care unit (ICU) at its Northlake hospital in its hometown. The project represents the initial phase of a $31 million revamping of the campus and is part of a larger, $134 million plan to upgrade all of the system’s […]
Inpatient Projects: Growth, competition has Inova planning $275M project in Landsdowne, Va.
LANDSDOWNE, Va. – Strong population growth is prompting Falls Church, Va.-based Inova Health System to embark on a $275 million expansion of its hospital in Landsdowne, about an hour west of Washington, D.C.
Inpatient Projects: More Inpatient Real Estate Project News
Norton Healthcare Inc. plans to spend $107 million to upgrade and expand Norton Audubon Hospital in Louisville, Ky. Construction is expected to begin in spring 2016, according to a statement from the system and Chief Administrative Officer Jon Cooper. The project should take more than three years to complete and will focus on improving “patient […]
Inpatient Projects: System to add children’s hospital
Standalone pediatric hospital planned for Sacred Heart campus in Pensacola, Fla. By John B. Mugford Construction is set to begin in early 2016 on what will be, in essence, a new standalone children’s hospital at the 100-year-old Sacred Heart Hospital campus in Pensacola, Fla.
Industry Pulse: On the Record – Nathan Golik
What is your firm’s investment strategy when it comes to freestanding EDs? “(FEDs) are not something we’ve pursued as much… It’s just a really high-priced per square foot development cost. Even if you’ve got a health system anchor, if you’re in a non-CON state, at the end of that lease term, you can just build […]
Publisher’s Letter: Budget blindside
Hospital off-campus outpatient facilities face cuts Dear Reader: Fortunately, we had the wisdom several years ago to create the Healthcare Real Estate Insights™ Editorial Advisory Board. Our board members have our backs – often serving as a vital early warning system for us when major issues are coming down the pike.
Post-Acute & Senior Living: Florida complex starts final phase
West Palm Beach campus to get a 10-story, $77.6 million independent residence By Erin E. Porter MorseLife Health System recently broke ground on the final phase of its 37-acre senior community campus in its hometown of West Palm Beach, Fla.
Post-Acute & Senior Living: Northbridge Cos. to kick off $65 million, 215-unit expansion in Portland, Maine
PORTLAND, Maine – Northbridge Cos. and its real estate partner, Portland, Maine-based Sandy River Co., announced the recent groundbreakings at three new communities in the Maine cities of Brunswick, Wells and Westbrook.
