Hot Property: Loads of interest in surgical hospital
Physician-owned, 33,217 square foot facility is in affluent area near Reading, Pa. Address: 2752 Century Blvd. City: Wyomissing, Pa. Size: 15 beds, 33,217 square feet Occupancy: 100% Tenant: Surgical Institute of Reading Seller: TEGRA Reading Med. Surg. LLC Brokers: Christopher L. Stai and Clinton J. Parker, Brown Gibbons Lang | Real Estate Partners (BGLRP) Lease […]
Outpatient Projects: Rendina developing Arizona MOB
Three-story, 55,000 square foot facility to be built next to replacement hospital By John B. Mugford As construction continues on a $55 million replacement hospital in Sierra Vista, Ariz., in the far southern part of the state, a 55,000 square foot MOB being developed by a third-party owner is also well underway on the 77-acre […]
Outpatient Projects: HCP plans MOB, mixed-use project
Public REIT to acquire, redevelop assisted living tower site in Fort Worth, Texas By John B. Mugford Irvine, Calif.-based HCP Inc. (NYSE: HCP) isn’t just an owner of healthcare real estate; it’s a developer, too. The publicly traded REIT is in the process of buying and redeveloping the site of an aging assisted living tower […]
Outpatient Projects: NCA Real Estate to develop MOB on site next to hospital in Sierra Vista, Calif.
SIERRA VISTA, Calif. – There’s a perfect storm brewing in California for moving more and more healthcare services into outpatient settings. In addition to a national shift toward providing more care outside of the hospital, health systems in the Golden State have an extra incentive to provide services in lower-cost settings: the state’s Senate Bill […]
Outpatient Projects: New cancer center to add capacity at MOB in Blue Ridge Mountains
HENDERSONVILLE, N.C. — The size of a future medical project being planned by a partnership of local government and private entities has increased significantly recently, as a local hospital has decided to offer cancer services in the building in addition to other services. Known as the Joint Health Sciences Building, the 95,000 square foot building […]
Outpatient Projects: As renovation continues, Seattle MOB lands Swedish as a tenant
SEATTLE, Wash. — So far so good for a joint venture partnership that acquired a biotech facility next to Swedish Medical Center-First Hill hospital in the heart of Seattle. In 2013, the partnership of Dallas-based Trammell Crow Co. and Seattle-based Washington Capital Management (WCM) purchased a facility at 1124 Columbia St., for $42.6 million from […]
Outpatient Projects: More Outpatient Real Estate News
■ In a region with an obesity rate of 37 percent, Thibodaux (La.) Regional Medical Center is putting the finishing touches on a $63 million, 230,000 square foot wellness and health education facility. The building, scheduled to open in early 2015, is being built across the road from the 185-bed regional hospital. The facility is […]
Inpatient Projects: $250M campus set for Delaware
EwingCole designed master plan for Bayhealth’s replacement of Milford Memorial By John B. Mugford Having the governor on hand to help announce a new replacement hospital campus slated for Milford, Del., was a good indication of how important Bayhealth officials believe the project is for the central-southern part of the state. Labeling the future campus […]
Inpatient Projects: Recent merger leads to plan for $160 million expansion at hospital in suburban Detroit
FARMINGTON HILLS, Mich. – Hospitals are merging with other hospitals and larger health systems at a rapid rate, in large part to create certain efficiencies, add or combine services, gain more patients and capital clout, and other reasons. Gaining access to more capital and finally getting what officials are calling a much-needed upgrade and expansion […]
Inpatient Projects: Hospital in northern N.Y. proposes consolidating services on $200M campus
CANTON, N.Y – Canton-Potsdam Hospital in Potsdam, N.Y., has big plans for a new $200 million hospital campus on a 270-acre parcel of farmland just outside of nearby Canton, N.Y. However, while the first two phases of a three-phase plan for the site are likely to take place, plans for the third phase, a new […]
Inpatient Projects: Hospital in Pennsylvania’s Poconos plans a new campus 10 miles away
TANNERSVILLE, Pa. – It makes sense that the main focal point of a new hospital campus being planned in Tannersville by East Stroudsburg, Pa.-based Pocono Medical Center will be the ED. That’s because the hospital that serves a metropolitan statistical area with a population of about 160,000 people in the heart of the Poconos sees […]
Inpatient Projects: More Inpatient Real Estate Project News
■ Members of the Downers Grove, Ill., Plan Commission recently gave their go ahead for a $92 million expansion at the 330-bed Advocate Good Samaritan Hospital in the far western suburbs of Chicago. The project still needs the final approval of the City Council, but hospital officials say they expect to start construction on the […]
Industry Pulse: More Broker-Dealers Resume Sales of ARC REITS
Investment sales have resumed now that the firm’s healthcare REITs have been cleared. Sales of non-traded real estate investment trusts (REITs) sold under the sponsorship of New York-based American Realty Capital Properties Inc. (Nasdaq: ARCP) seem poised to recover now that most units of the company have been cleared of wrongdoing in an accounting scandal […]
Industry Pulse: Vince Cozzi Crosses Border For New Job
Former Ventas exec joins Toronto-based health REIT. Vincent M. Cozzi, who was in charge of medical office building (MOB) investing for Ventas Inc. (NYSE: VTR), recently left his post to become co-president and chief investment officer of Toronto-based NorthWest International Healthcare Properties REIT (TSXV: MOB.UN).
Editor’s Letter: Disruptive innovation
Is the healthcare industry facing ‘a Kodak moment?’ Dear Reader: In ancient times, when I was in graduate business school (1989-91, if you must know), I took an excellent class called “The Management of Innovation.” Among other things, we learned how certain products once held seemingly unassailable market positions, only to be eliminated almost overnight […]
