Companies & People: More Companies & People News
■ Shawn A. Janus recently joined San Diego-based Pacific Medical Buildings (PMB), a well-known healthcare facilities developer, owner and manager. Mr. Janus joins PMB as a senior VP for healthcare development and acquisitions. With more than 30 years of experience in commercial real estate, Mr. Janus’ area of expertise in healthcare includes development, acquisition, and […]
Cover Story: Black Friday for healthcare? How retail clinics are influencing real estate strategies
By Murray W. Wolf CVS is aggressively opening new MinuteClinics nationwide. Walgreens Healthcare Clinics have moved beyond low-level primary care into disease management. Target recently announced a retail clinic partnership with Kaiser Permanente – Kaiser’s first. And Walmart just opened several new retail clinics with an “everyday low price” of $40 per visit – or […]
Transactions: DocREIT finds monetization in Ga.
88 percent-occupied portfolio has 13 buildings in Columbus, southeast of Atlanta By John B. Mugford As things stand in the healthcare sector, some health systems are inclined to retain the ownership of as much of their real estate as possible. There are some systems, however, who say they are willing to explore their options, perhaps […]
Transactions: Like a broken record
Q3 2014 MOB sales break the all-time third quarter record from a year ago By John B. Mugford After three quarters of the year, 2014’s medical office building (MOB) sales volume was on pace to set the all-time yearly record, with a potential for topping the high mark set just a year ago. However, it’s […]
Transactions: DocREIT acquires MOB portfolio for $23.1 million from Laub Realty
PENNSYLVANIA – In more news from Physicians Realty Trust, the REIT recently acquired a five-property medical portfolio from Bronx, N.Y.-based Laub Realty, a firm founded by Michael Laub that owns commercial properties in 12 states. The NGKF healthcare team – headed by Tood Perman, Garth Hogan and John Cobb – represented the seller.
Transactions: Griffin-American taking big deals
Non-traded REIT landing MOB portfolios for more than $20M; more deals coming By John B. Mugford With 2014 looking like the “year of the medical office building (MOB) portfolio sale,” Irvine, Calif.-based Griffin-American Healthcare REIT III did its part to solidify such a notion by entering two big deals recently.
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 […]