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News Release: Baptist Health to build a new hospital in Clay County (Fla.)

News Release: Baptist Health to build a new hospital in Clay County (Fla.)

By on January 22, 2020

More than expert medical care, the new hospital will serve as a place for wellness, education and healing

January 22, 2020 | Jacksonville, FL

To meet the growing need for health care services in Clay County, Baptist Health is planning to build a full-service hospital on its existing Baptist Clay Medical Campus on Fleming Island. Groundbreaking will occur in the spring of 2020, with the hospital opening planned for early 2022.

The 300,000-square-foot, full-service hospital will open with 100 beds, including women’s services and enhanced cardiology services. The hospital will be designed with modern features, including placing diagnostic equipment near the ICU for patients who need it the most, and corridors designed with calming LED lighting, and centralized staff services to minimize noise.

These services are in addition to those already existing at the Baptist Clay Campus in Fleming Island, which opened in May of 2013, and includes an adult ER, a Wolfson Children’s Hospital ER, an ambulatory surgery center, specialty services, and imaging.

Baptist Health is investing $200 million to build the new hospital, which will create 700 new jobs in Clay County. Baptist Health is targeting the rapidly expanding Clay County area, with a median age of 39, to meet the growing medical needs of families in the area.

“Clay County residents tell us they need more hospital-based health care services close to where they live and work,” said Darin Roark, BSN, MBA, RN, FACHE, current vice president of Ambulatory Campuses and Emergency Services, who will serve as the new hospital’s president. “Having a full-service hospital nearby will eliminate the need for travel, while providing the medical expertise that Baptist Health is known for.”

The new hospital is being designed with patients’ and visitors’ preferences in mind, with large private patient rooms and onsite amenities, like Starbucks, an outdoor dining area, and a large community room for meetings and education that can hold up to 125 people.

“It will be a place of health and wellness for the community,” said Roark. “We will host a variety of health-related events, such as “Talk with a Doc” discussions on a variety of health topics.”

The hospital campus will include an outdoor jogging path connecting to the current Black Creek Trail. “As part of Baptist Health’s commitment to the community, the plants and trees along the lake banks will be maintained and the large Oak Grove on the southern end of the campus will be preserved,” Roark said.

Roark joined Baptist Health in 2012 as an assistant administrator overseeing all emergency centers in the health system. Roark has served as administrator of the Baptist Clay Medical Campus since October 2013 and serves as the Baptist Health liaison in Clay County. He is the current chairman of the board of The Clay County Chamber of Commerce and is on the board of the Clay County Utility Authority. Roark and his family live in Fleming Island.

“As a Clay County resident for many years, I am excited and humbled by the opportunity to bring world-class, patient-focused health care to Clay County,” Roark said.

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News Release: Colliers facilitates $42,000,000 sale of the iconic “Taj Mahal” medical office building in Laguna Hils, Ca

By on January 22, 2020

FOR IMMEDIATE RELEASE

Located Across the Street from Saddleback Hospital, Institutional Quality Asset is a Rare MOB Trade

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Laguna Hills, CA (January 22, 2020) – The Colliers’ Healthcare Orange County Team just announced the closing of the highly-sought-after medical building known as the “Taj Mahal” located at 23521 Paseo De Valencia Laguna Hills, CA 92637. The 88,538 square-foot property sold for $42,000,000 “off-market” to Healthcare Realty, which Colliers represented.

The property was purchased from The Muller Company, which owned the building since the late 1990s.

Originally developed in 1964, Taj Mahal was designed as an office building following the neoclassical contemporary architecture of its time. Its idyllic location – being situated across the street from the rapidly growing Saddleback Memorial Hospital – caused the owners to reposition the asset to medical office in order to better meet growing demand for healthcare buildings in the area. Following suit with the market, the building was later updated in 2011, modernizing it to the demands of the 21st Century both in design and functionality. In 2017 the Taj Mahal was awarded the (BOMA) Southwest Regional TOBY (Outstanding Building of the Year).

“The Taj Mahal building is as unique as its namesake in the commercial real estate world,” said Senior Vice President of Healthcare Services at Colliers John Wadsworth who was the lead broker in the transaction. “The scarcity of acquiring a medical building in Southern California, let alone South Orange County, located across the street from a strong hospital, coupled with its size and tenant mix, was incredibly rare.”

Noting historic demand for high quality healthcare properties, Wadsworth and his team are continually tasked with finding owners willing to sell. Healthcare Reality, a REIT focused solely on the healthcare sector, coupled with its long-term hold approach to ownership and one of the most active buyers of MOB’s in the US, were all key attributes to ‘start the conversation’ with the seller and ultimately transact. In an aggressive buy mode and with this acquisition complete, Healthcare Realty’s portfolio in Southern California now totals nearly 825,000 square feet.

“This sale checked all the boxes for a high-quality institutional MOB deal, and we couldn’t be happier for Healthcare Realty and all parties involved in this transaction,” concluded Wadsworth.

About Colliers International Group Inc.

Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning approximately 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.

Media Contact:
Shelly Levin
Allison + Partners Los Angeles
ColliersGLA@allisonpr.com

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News Release: Chris Morgan of Caddis named one of the Dallas area’s top young business leaders

By on January 22, 2020

Firm’s Acquisitions Manager makes the Dallas Business Journal’s prestigious “40 Under 40” list, recognizing his business and community leadership contributions  

DALLAS, Jan. 22, 2020 – The Dallas Business Journal has awarded Chris Morgan, Acquisitions Manager at Caddis®, with a prestigious 2020 “40 Under 40” Award for his leadership and valuable contributions to his organization and his community.

“Chris has done a superb job with Caddis’ first acquisition fund,” says Jason L. Signor, CEO and Partner of the national healthcare real estate firm headquartered in Dallas. “Caddis had ambitious goals for its first acquisition fund, and Chris helped us surpass those expectations, leading the acquisition of 24 high-quality medical office building (“MOB”) assets across the country, totaling more than 1 million square feet. This makes Caddis one of the most active acquirers of MOBs in the nation.”

He added, “Chris’ innovative leadership and strong work ethic have strengthened Caddis’ bottom line and fueled the upward trajectory of our organization.”

Mr. Morgan has been engaged in real estate underwriting, management, and finance since 2003 and has been with Caddis for five years. During this time, Caddis’ first acquisition fund, launched in late 2017, has exceeded $330 million in transaction volume, straddling 14 states, and is forecasted to contain approximately $400 million when the acquisition process is complete in the next 9-12 months. In the first half of this year, Caddis will launch its second acquisition fund with a target of $500-$600 million in assets.

Mr. Morgan is also actively involved in the community, having raised substantial funding for Vogel Alcove, a nonprofit organization dedicated to providing therapeutic educational programs for children experiencing the trauma of homelessness.

Mr. Morgan graduated with honors from California State University, Stanislaus with a Bachelor’s Degree in Business Administration and earned a Master of Business Administration from Southern Methodist University with concentrations in real estate and corporate finance.

The Dallas Business Journal’s annual “40 Under 40” Awards recognize leaders who excel in their fields, make valuable contributions to their organizations, and have a meaningful impact on their communities. This year’s award winners will be honored at a reception on March 12 and will also be featured in a special print and online publication in late January.

About Caddis

Caddis® is a national real estate development, management and investment firm focused exclusively on healthcare real estate. The firm is comprised of experienced real estate professionals across various disciplines that provide clients with expertise in development, acquisition, financing, construction management, leasing, tenant representation, property management and accounting. Since its inception, Caddis™ has developed or acquired nearly 5 million square feet of medical assets valued in excess of $1 billion. In its annual Construction and Design Survey, Modern Healthcare magazine recognized Caddis as the 5th largest healthcare development company in the United States. For more information about Caddis, please visit www.Caddis.com.

Follow us on Twitter at www.twitter.com/CaddisPartners

Follow us on LinkedIn at http://www.linkedin.com/company/caddis-partners

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News Release: Anchor Health Properties and WakeMed Health & Hospitals Partner to Expand Access through New Health Facilities

By on January 22, 2020

FOR IMMEDIATE RELEASE

January 20, 2020

(Charlottesville, VA) Furthering the goal of delivering highly-coordinated, patient-centric healthcare throughout Wake County, WakeMed Health & Hospitals (WakeMed), a nationally recognized, private, not-for-profit healthcare organization has elected to partner with Anchor Health Properties (Anchor), a national full-service healthcare real estate development, management, and investment company focused exclusively on medical facilities, on a long-term development and expansion initiative.

Through the addition of strategically located facilities in and around Wake County, North Carolina, Anchor and WakeMed are focused on improving the health and well-being of the community by providing convenient, easily accessible, outstanding, compassionate care in environments that are patient- and family-centered.

As the region’s cornerstone healthcare provider, WakeMed engaged the real estate advisory services of Foundry Commercial – a full-service real estate services and investment company – to conduct a national search and identify a development partner for this project. Foundry’s Healthcare Services platform offers a combination of in-depth sector knowledge, long-standing relationships with premier health system providers as well as some of the most well-known names in real estate ownership. “Anchor offered creative solutions tailored for WakeMed and was ultimately selected as the development manager for the anticipated development and expansion projects,” said Kevin Maddron, Healthcare Principal for Foundry Commercial.

“WakeMed is pleased to partner with Anchor Health Properties on this endeavor,” said Thomas Cavender, PE, Vice President of Facilities & Construction for WakeMed. “Their creativity in delivering an array of capital solutions tailored to accomplishing our short- and long-term objectives along with their breadth of demonstrated success in developing innovative healthcare facilities make Anchor a natural partner to develop and manage these projects for WakeMed. We look forward to working side by side with Anchor in pursuit of furthering our mission – providing convenient and accessible services centered on the patient’s needs.”

Building on WakeMed’s existing footprint, this expansion initiative marks the continued growth of the health system’s network of providers, clinical specialties, and convenient locations that will benefit patients and families for years to come.

“We are excited to partner with WakeMed to help further their mission of providing outstanding and compassionate care to all who seek quality healthcare services,” said Ben Ochs, Chief Executive Officer with Anchor Health Properties. “We admire their nimbleness in an era of rapid change and are thrilled to support their efforts to deliver a superior experience to their patients through the development of best in class real estate facilities.”

About Anchor Health Properties

Anchor Health Properties is a national, full service healthcare real estate development, management, leasing, and investment serving investors and health systems. Anchor takes a strategic approach to navigating the extremely competitive healthcare marketplace, considering multiple angles, such as retail drivers, customer experience, branding and efficiency of the project. We develop and manage projects across the United States that respond to the new landscape of employed physicians, team-based care, the need to optimize assets and reduce duplication, and the integration of care and technology. Anchor manages and leases roughly six million square feet of medical office space, inclusive of numerous projects under construction. Anchor maintains ten offices nationally and features more than 60 professionals in its ranks. Over the past five years, Anchor principals have acquired and/or developed over $3 billion of medical real estate across the country. Healthcare today calls not only for new and more efficient ways of delivering outpatient services, but also a different kind of healthcare development and management company. For more information, please visit: www.anchorhealthproperties.com.

About WakeMed Health & Hospitals

Serving the community since 1961, WakeMed is a nationally recognized, private, not-for-profit health system founded and based in Raleigh, N.C. The largest health system in Wake County, WakeMed exists to improve the health and well-being of our community by providing outstanding, compassionate, patient- and family-centered care to all. The 941-bed system comprises a network of facilities throughout the Triangle area, including three full-service hospitals, all delivering health and wellness care and innovative services that bring added value to the communities we serve. WakeMed is a leader in heart and vascular care, women’s and children’s services, emergency medicine and trauma care, physical rehabilitation, orthopaedics and neurosciences. Specialty facilities include the WakeMed Heart Center, a dedicated Children’s Hospital and Children’s Emergency Department, Women’s Pavilion and Birthplace, Women’s Hospital at WakeMed North, WakeMed Rehabilitation Hospital and Wake County’s only Level I Trauma Center. WakeMed’s team of more than 9,700 employees, 1,500 volunteers, 1,300 affiliated physicians and 525 employed physicians and providers represent the best minds and the biggest hearts to ensure the finest quality in health care and community health. For more information, visit www.wakemed.org or follow WakeMed on Facebook, Twitter and Instagram.

About Foundry Commercial

Foundry Commercial is a full-service real estate services and investment company with over 330 employees and more than 50 million square feet of management and leasing across the Southeast and Texas. Since 2007, Foundry has provided leasing, brokerage, building management, corporate services and project management services, and is the largest real estate service provider to religious and not-for-profit organizations in the country. Foundry also includes a development and investment platform that is fully integrated into its services business, leveraging its local market expertise to control more than one billion in advantaged investment opportunities with their JV partners. For more information, visit www.foundrycommercial.com.

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Contact: Rachael Hall, Anchor Health Properties
rhall@anchorhealthproperties.com; 302-655-1010

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News Release: Davis hires Stewart Davis to lead its nationwide healthcare investment strategy

By on January 22, 2020

The new Executive Vice President – Investments has 10 years of real estate experience and has managed more than $450 million in healthcare property transactions

Experienced real estate executive Stewart Davis has joined Davis’ newly opened New York City office as Executive Vice President – Investments.

MINNEAPOLIS, Jan. 22, 2020 – Davis has hired experienced healthcare real estate executive Stewart Davis as Executive Vice President – Investments to manage all of its acquisitions across the country. He is based in the firm’s newly opened New York City office.

“Stewart is an excellent addition to the Davis team,” says Mark Davis, Founder and Partner of the national healthcare real estate development, property management, brokerage and investment firm headquartered in Minneapolis. “He has a wealth of experience managing development projects and leading the acquisition, disposition and financing of all types of properties. We’re confident that he will be a valuable asset to our firm and help us grow our acquisitions across the country.”

Stewart Davis noted, “We are looking to acquire $200 million in high quality healthcare assets across the United States this year with a focus on ambulatory and surgical facilities. I’m excited to help Davis expand its client network as well as grow the portfolio and business.”

Mr. Davis has 10 years of real estate experience and has managed more than $450 million in healthcare-related property transactions. His clients have included publicly traded real estate investment trusts and leading private equity groups, as well as physician groups throughout the country.

Most recently, he served as Managing Director of Healthcare Investment Sales with Eastern Consolidated, a leading full-service real estate firm in New York City. In that position, he formed a Healthcare Advisory Group that focused on healthcare sales nationwide.

Mr. Davis is active in Habitat for Humanity and the Real Estate Board of New York (REBNY) and was nominated for REBNY’s “Rising Star Award” in 2015. He received a Bachelor’s Degree from Wesleyan University and a Master of Business Administration with an emphasis on real estate from New York University.

About Davis

Davis, founded in 1986, is a national healthcare real estate firm that offers unparalleled expertise in healthcare real estate development, property management, brokerage, investment and consulting services to health systems, hospitals, individual medical groups, specialty practices and other healthcare organizations. Over the past five years, the company has developed 31 Class A medical buildings totaling $300-plus million in development costs and completed 30 investment transactions totaling more than $500 million. It has also negotiated more than 250 healthcare property leases totaling 1.2 million square feet during that time. For more information, please visit www.davishre.com.

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News Media Contact: Vickie Ridgley, 612-383-2717, vridgley@davishre.com

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News Release: BGL Announces the Real Estate Sale of the Musculoskeletal Institute of Tyler

By on January 22, 2020

Brown Gibbons Lang & Company

Deal Announcement

BGL Announces the Real Estate Sale of the Musculoskeletal Institute of Tyler

Cleveland – January 22, 2020 — Brown Gibbons Lang & Company (BGL) is pleased to announce the real estate sale of the Musculoskeletal Institute of Tyler consisting of approximately 68,952 total rentable square feet. BGL’s Healthcare Real Estate team served as the exclusive advisor to the seller in the transaction.

The Musculoskeletal Institute of Tyler is a multi-tenant, Class-A, medical office building located on the south side of Tyler, Texas. Completed in 2000, the ambulatory surgical center and orthopedic clinic is occupied by Azalea Orthopedic & Spine and Baylor Scott & White Texas Spine & Joint Hospital. The property is located approximately 2.5 miles from Tyler’s medical hub, home to the University of Texas Health Science Center and CHRISTUS Mother Frances Hospital. The property’s location, along with its occupancy of the region’s top orthopedic practice and orthopedic surgery center, has made it an integral part of the greater Tyler medical market.

For additional information, please contact:

John C. Riddle
Managing Director & Principal
jriddle@bglco.com
312.658.4758

Clinton J. Parker
Managing Director
cparker@bglco.com
210.352.5832

Michael T. Peel
Associate
mpeel@bglco.com
210.352.5832

To learn more about BGL’s Healthcare Real Estate team, please visit:

bglco.com/industry-coverage/healthcare-real-estate/

Chicago • Cleveland • Denver • Philadelphia • San Antonio • San Diego

Brown Gibbons Lang & Company is a leading independent investment bank and financial advisory firm focused on the global middle market. The firm advises private and public corporations and private equity groups on mergers and acquisitions, divestitures, capital markets, financial restructurings, valuations and opinions, and other strategic matters. BGL has investment banking offices in Chicago, Cleveland, and Philadelphia, and real estate offices in Chicago, Cleveland, Denver, San Antonio, and San Diego. The firm is also a founding member of Global M&A Partners, enabling BGL to service clients in more than 30 countries around the world.

Securities transactions are conducted through Brown, Gibbons, Lang & Company Securities, Inc., an affiliate of Brown Gibbons Lang & Company LLC and a registered broker-dealer and member of FINRA and SIPC. For more information, please visit www.bglco.com.

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Feature Story: Firm says its co-located UCC/ED model is a ‘win-win-win’

By on January 21, 2020

Anchor, Rendina to develop up to 40 of the facilities for Intuitive Health during the next two-three years

By John B. Mugford

“The Retalilization of Health Care Systems” presentation during the International Council of Shopping Centers (ICSC) New York Deal Making conference included (from left to right): Katie Jacoby of Anchor Health Properties, Mason Deal of Intuitive Health, Steve Barry of Rendina and Kelly Fulton of RWJ Barnabas Health. (HREI™ photo)

As Plano, Texas-based Intuitive Health was planning the rollout of as many as 40 co-located, hybrid emergency and urgent care centers in the next 24 to 36 months, it went looking for experienced real estate partners to develop the facilities in primary and secondary markets across the country.

The company selected two partners after concluding a recent developer selection process facilitated by a Healthcare Capital Markets team with Jones Lang LaSalle (NYSE: JLL).

Those two partners, who will finance and own the projects they develop for Intuitive are: Charlottesville, Va.-based Anchor Health Properties; and Jupiter, Fla.-based Rendina Healthcare Real Estate.

Working separately, the long-standing, widely known healthcare real estate (HRE) companies will develop Intuitive’s co-located urgent care/emergency care outpatient healthcare facilities in various markets.

Each project will likely have anywhere from 10,000 to 40,000 square feet of space and will carry the brands of a variety of local, regional and/or national health systems and providers. Facilities on the larger end of the scale are likely to house additional uses, such as a health system’s medical offices and physicians providing a variety of services.

Since the company’s founding in 2017, Intuitive has used a retail approach to opening more than a dozen of its emergency room (ER)/urgent care centers (UCCs), with a concentration of facilities in the Greater Dallas-Fort Worth (DFW), Albuquerque, N.M., and Indianapolis markets.

As noted, many more are on the way and in planning stages.

Mason Deal, VP of new market operations for Intuitive, spoke in detail about the company, its model and its plans for the roll out of the 40 or so facilities in the next few years during a healthcare real estate (HRE) presentation Dec. 12 at International Council of Shopping Centers (ICSC) New York Deal Making conference.

Held on the Health & Wellness Center Stage at the Jacob K. Javits Convention Center, the session was titled, “The Retalilization of Health Care Systems.” In addition to Mr. Deal, speakers included Steven K. Barry, president of Rendina; Katie Jacoby, executive VP of development with Anchor; and Kelly Fulton, senior VP of Physician Services with Livingston, N.J.-based RWJ Barnabas Health, which has 11 hospitals and scores of other locations in New Jersey.

Mr. Deal noted that Intuitive Health owns, operates, and enters joint ventures (JVs) with health systems and hospitals nationwide in opening what he called facilities that are a “hybrid ER/urgent care model, and we’ve created quite a niche in the industry.”

The company’s model is to “co-locate” a UCC and a freestanding emergency department (FED) in a single facility.

“Obviously, there are hundreds and thousands” of UCCs nationwide, he said, “and there many freestanding emergency departments operating, and then obviously there’s hospital emergency departments.

“Where we fit in,” he continued, “is that we kind of offer the best of all of those worlds. We are open 24/7, as opposed to a typical urgent care center. Our wait times are just as strong as an urgent care center because we staff and operate it as if we’re in an urgent care center.”

The company says it can point to data showing that its model is successful, as its store in the Dallas-Fort Worth (DFW) market, where there are a combined “462 competitors” in the form of UCCs and emergency rooms, Intuitive’s facilities have experienced “13.4 percent compounded annual growth rate over the last four years.

“So, as we’re continuing to grow our model,” he added, “and it’s a (good example) to show (healthcare clients and potential partners) that we can succeed amongst our competitors out there, and we’ve used that a lot in case studies to sell this approach to other health systems.”

The model has been successful with patients, Mr. Deal said, because they are not burdened with the difficult decision – a medical triage decision – of where to go, or where to take a family member, for the appropriate care.

“We make it easy for patients so they don’t have to choose,” he noted. “When you have that moment of ‘ouch,’ that you’re experiencing something, you’re sick, your kid has the flu or has a temperature, and there’s this discussion internally.”

Choosing its partners Continue reading “Feature Story: Firm says its co-located UCC/ED model is a ‘win-win-win’”

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News Release: Rye Canyon Medical Center in Valencia, CA Complete

By on January 21, 2020

Los Angeles – January 21, 2020 – The newly renovated Rye Canyon Medical Center in Valencia, CA is now available for uses including but not limited to: surgical or dialysis center, oncology facility, imaging and urgent care. This premiere property is suitable for any healthcare organization looking for a high image facility in the Santa Clarita Valley.

The building, located at 25322 Rye Canyon Road, sits in one of the fastest-growing areas in Southern California and the Greater Los Angeles region. Just one mile from the 5 freeway, the property is surrounded by existing and planned housing, as well as other institutional medical and long-term care facilities. It is also located at a thoroughfare with more than 10 million cars passing annually.

The two-story medical building offers 128 surface parking spaces. This core and shell upgrade added many features, such as a new gurney-sized elevator and 1000-watt transformer with sub-metered power option, helping meet the demands of expanding healthcare systems. The property’s architectural features include sweeping window views on both floors, a modern exterior façade, sophisticated common area amenities and finishes as well as a high-visibility signage opportunity.

For more information, please visit ryecanyonmedical.com.

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Property Information Contact:

CBRE Healthcare Services

Angie Weber
+1 818 502 6750
Angie.Weber@cbre.com

Dana Nialis
+1 818 502 6774
Dana.Nialis@cbre.com

Kyle Weber
+1 818 907 4684
Kyle.Weber@cbre.com

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News Release: Just Sold: High Quality Medical Office in Pomona, CA

By on January 17, 2020

790 East Bonita Ave., Pomona, CA

JUST SOLD

CBRE’s Investment Properties-SoCal/Phoenix/Vegas team is pleased to announce the sale of 790 E Bonita Avenue in Pomona, California, at a price of $6,850,000 ($311/PSF). The 22,055-SF building was 100% occupied at the time of sale with two prominent providers of medical services with durable cash flow. Chaparral Medical Group an 80-physician multi-specialty medical group, and Pacific Clinics a behavioral health and social services provider with over 60 locations in Southern California have long-term commitments to the Property and deep roots in the area.

Mark Shaffer, Gerard Poutier, Gary Stache, Anthony DeLorenzo, and Doug Mack of CBRE represented the seller, Kothari & Co. Inc. The buyer was Paras Properties LLC. The transaction received strong interest and multiple offers, reflecting great demand for assets with long-term, credit tenancy and durable cash flow.

Several of our recent transactions were conducted within a competitive bidding environment, resulting in strong investor interest and multiple offers from different channels. If you would like us to advise you on how to maximize the value of one of your assets, please give us a call.

Mark Shaffer
Lic. 01705763
+1 858 546 4622
matt.pourcho@cbre.com

Gerard Poutier
Lic. 02035565
+1 818 907 4629
gerard.poutier@cbre.com

Gary Stache
Lic. 00773736
+1 949 725 8532
gary.stache@cbre.com

Anthony Delorenzo
Lic. 01706686
+1 949 725 8425
anthony.delorenzo@cbre.com

Doug Mack
Lic. 01804065
+1 949 725 8571
doug.mack@cbre.com

Specializing in the sale of Office, Medical Office, and Industrial properties in Southern California.

Since 2015, our team has sold 265 transactions valued in excess of $3.74 billion.

 

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News Release: Opus delivers high-quality, unique HQ for the American Academy of Pediatrics

By on January 17, 2020

1/14/2020

​With continuing expansion on the horizon, the American Academy of Pediatrics (AAP) chose us to build an efficient, high-quality and unique headquarters for them in suburban Chicago.

“Our vision for this project has always been quite simple: to create a place that enables our child health mission. This new headquarters is designed to support the work of our staff and our 66,000 members at the highest level. Our new headquarters is more than just an office building. It is designed to be the new home for the profession of pediatrics and through state-of-the-art surroundings and communications. It is where we can pursue the AAP’s mission together.”

Karen Remley, M.D., M.B.A., M.P.H., FAAP.
CEO & Executive Vice President
American Academy of Pediatrics

The American Academy of Pediatrics National Headquarters is located in the Hamilton Lakes Business Park near O’Hare International Airport. It is a 183,603-square-foot, five-story, rectangular and curved building with an all-glass façade.

Reflecting their purpose and mission to help kids, AAP wanted a fun, playful and inspirational design. We worked collaboratively with Stantec, the building’s architect, as they designed the core and shell. In a business park with standard buildings with red brick, AAP’s building stands out with the curved glass and precast façade with colored fins that are aesthetically pleasing, cost effective and sustainable.

The building is customized to AAP’s needs with general workspace for employees, areas for hosting industry events and a recording studio and print shop to support AAP’s in-house marketing capabilities. A temperature- and humidity-controlled area protects the organization’s invaluable historical archives and pediatrics records.

Sustainability was important for AAP. The distinctive floor-to-ceiling windows and unique, multi-colored glass fins around the entire building aid in preventing solar heat gain. The building also has high-performing and high-efficiency HVAC units, high-performing glass and LED lighting. Bioswales, water filtration areas, electric car charging stations and permeable pavers on the site further the environmentally-friendly features.

We fast tracked the project and delivered ahead of schedule, allowing AAP to move-in early and save on operating costs. Providing a foundation for scalable growth, AAP’s new headquarters will accommodate expansion and support the organization’s plans going forward.

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The American Academy of Pediatrics National HQ received the Chicago Real Estate Awards Build-to-Suite Project of the Year and the Design-Build Institute of American Design-Build Merit Award – Office Buildings in 2018.

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News Release: Holladay Properties brokers sale of 28 White Bridge Road

By on January 16, 2020

For Immediate Release

Photo provided by CoStar®

(Nashville, Tenn.) – Holladay Properties is pleased to announce the sale of The Anderson Building, a medical office property located at 28 White Bridge Road. Chad DeRossett, CCIM, and Tracy Francis, SIOR, acted as the Buyer’s exclusive advisors in acquiring the property.

The Anderson Building is a 60,000 square foot medical office building adjacent to Target and across from J. Alexanders. It is occupied by Premier Radiology, Fresenius, and Nephrology Associates.

Holladay Properties manages and leases over 1.5 million square feet of medical office space in Middle Tennessee and will manage and lease this property for the new owner. For more information, or if we can assist with your healthcare real estate, please contact Chad DeRossett at 615-312-0271, or Tracy Francis at 615-312-0280.

*Photo provided by CoStar®

About Holladay Properties

Holladay Properties is a full-scale land development, design/build, and fully-integrated real estate company, as well as one of the largest medical office and property management firms in the country. The firm has developed over 30 million square feet of commercial space and actively manages over 11.8 million square feet of office, industrial, retail, multi-family, hotel, and healthcare space. With more than 140 employees in a variety of specialties working from five development offices and more than 25 management offices throughout the eastern half of the U.S., Holladay has the knowledge, experience, and people to complete any type of project for any kind of client. Visit www.holladayproperties.com for more information.

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Contact: Chad DeRossett, 615.312.0271
cderossett@holladayprop.com

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News Release: Shockwave Medical expands footprint By 50,000 SF

By on January 16, 2020

Shockwave Medical expands footprint By 50,000 SF i Santa Clara, California

Project Earns SIOR Northern California’s Top R&D/Flex Deal of the Year Award

(Jan. 16, 2020 – SANTA CLARA, Calif.) – Transwestern Commercial Services (TCS) today announces the restructure and expansion of Shockwave Medical Inc.’s (NAS:SWAV) headquarters in Silicon Valley. Transwestern Senior Vice President David Klein provided Occupier Solutions services for the newly public leader in the interventional treatment of advanced cardiovascular disease in adding 50,200 square feet at 5353 Betsy Ross Drive.

The new space is in an adjacent building to Shockwave’s current 35,000 square feet at 5403 Betsy Ross Drive, part of Great America Tech Center. Shockwave plans to make significant capital improvements to the property that houses its research and development, assembly and offices, with room to continue its sharp growth curve.

“Shockwave was locked into a short-term sublease that couldn’t sustain its growth or its technical requirements,” said Klein. “But like many R&D companies, a move would have presented a major disruption to its business. In restructuring and expanding its lease, we were able to secure excellent growth opportunity and financial benefits for Shockwave with minimal business interruption.”

The unique commercial real estate challenges of users like Shockwave is Klein’s specialty as a core member of Transwestern’s Life Science team in Northern California. His expertise has earned him SIOR’s Top R&D/Flex Transaction of the Year for three years in a row, including this transaction for Shockwave Medical.

ABOUT TRANSWESTERN COMMERCIAL SERVICES

Transwestern Commercial Services (TCS) is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service and innovative client solutions. Applying a consultative approach to Agency Leasing, Asset Services, Occupier Solutions, Capital Markets and Research, our fully integrated global organization adds value for investors, owners and occupiers of all commercial property types. We leverage market insight and operational expertise from across the Transwestern enterprise, which includes firms specializing in development and real estate investment management. TCS has 34 U.S. offices and assists clients from more than 200 offices in 37 countries through strategic alliances with France-based BNP Paribas Real Estate and Canada-based Devencore. Experience Extraordinary at transwestern.com and @Transwestern.

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Stefanie Lewis Peeler
Media Relations Specialist
National Marketing and Communications

TRANSWESTERN
1900 West Loop South, Suite 1300
Houston, TX 77027
Direct: 713.272.1266
Mobile: 281.795.3774
transwestern.com

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News Release: Baylor Scott & White Health Opens Hospital in Austin

By on January 15, 2020

System now has eight hospitals serving the fast-growing region

01/15/2020

AUSTIN, Texas – Baylor Scott & White Health, the largest not-for-profit health system in Texas, opened its newest full-service hospital today in Austin.

Baylor Scott & White Medical Center – Austin, located at 5251 W. U.S. Highway 290, Austin, TX 78735, becomes the System’s first hospital within Austin city limits. In addition to the hospital, a multi-specialty medical clinic will be located on the same campus as part of a comprehensive model of care.

The hospital is open 24 hours a day, 7 days a week and includes an emergency department, comprehensive inpatient care, surgical services and diagnostic services. Clinic services include cardiology, dermatology, endocrinology, gastroenterology, neurology, orthopedics, podiatry, pain management, general surgery, breast surgery, 3D breast imaging, and urology.

“This medical center and clinic highlight our commitment to bring comprehensive care services to the Austin community in one convenient location,” said Jay Fox, president, Baylor Scott & White Health – Austin/Round Rock Region. “It is because of the community’s support and collaboration that we are now able to serve their healthcare needs through this facility.”

At Baylor Scott & White Medical Center – Austin, patients can benefit from greater care coordination, as hospital and clinic caregivers collaborate on care through a single electronic medical record. This helps to reduce unnecessary testing, decrease wait times, and improve the patient experience. Baylor Scott & White patients can also make use of the System’s mobile app and online tool, MyBSWHealth.

“Opening this hospital furthers our commitment to increasing access to quality care for residents living in this growing area of Austin,” said Robin Watson, MD, chief medical officer, Baylor Scott & White Health – Austin/Round Rock Region. “While this hospital will provide a number of services, our focus remains on keeping patients healthy through preventative care and education.”

With today’s opening of Baylor Scott & White Medical Center – Austin, Baylor Scott & White now has eight hospitals and more than 70 access points serving a five-county Central Texas area. The hospitals are in Austin, Round Rock, Lakeway, Taylor, Cedar Park, Pflugerville and Buda.

For information on how Baylor Scott & White is serving the Austin community, visit www.BSWHealth.com/Austin

About Baylor Scott & White Health
As the largest not-for-profit health system in the state of Texas, Baylor Scott & White Health promotes the health and well-being of every individual, family and community it serves. An integrated care delivery network, the system includes the Scott and White Health Plan, Baylor Scott & White Research Institute and Baylor Scott & White Quality Alliance. Through 50 hospitals and more than 1,000 access points including flagship academic medical centers in Dallas and Temple, the system offers the full continuum of care, from primary to award-winning specialty care, throughout Texas, and via virtual touchpoints. If its service area were a state, it would be the eighth largest, providing care to a population larger than that of the state of Georgia. Founded as a Christian ministry of healing, Baylor Scott & White is proud to honor its century-long legacy through its commitment to improving accessibility, affordability and the customer experience for all. For more information, visit BSWHealth.com.

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News Release: MLL Capital Expands Medical Office Portfolio with Four Acquisitions

By on January 15, 2020

FOR IMMEDIATE RELEASE

MLL Capital Expands Medical Office Portfolio

Acquires properties in Chicago, Minneapolis/St Paul, Nashville, and Washington D.C. markets

The 95,043 square foot Advocate Sherman medical office building, located on the campus of the Advocate Sherman Hospital in Elgin, IL.

BOSTON (January 15, 2020) – MLL Capital, a Boston-based commercial real estate investor focused on medical office, laboratory and life sciences properties across the US, announced today the recent acquisition of four medical office buildings, totaling 251,546 square feet during December of 2019. The properties are located in Chicago, Minneapolis/St Paul, Washington D.C. and Nashville markets.

“These acquisitions align with our strategy to build a portfolio focusing on opportunistic and value-add investments in this sector and repositioning them to attract and retain high-quality medical tenants,” said Wyndsor DePetro, an MLL Capital Principal. “The assets, which are currently 81% occupied, present the opportunity to lease up to stabilized occupancy levels by attracting and retaining a diverse mix of high-quality medical office tenants with a targeted leasing effort using attractive lease packages and capital improvement plans.”

The acquisitions include the 95,043 square foot Advocate Sherman medical office building located on the campus of the Advocate Sherman Hospital in Elgin, IL, part of the Chicago market; 28 White Bridge Road, a 60,540 square foot medical office building located near the 498-bed St. Thomas West Hospital in Nashville, TN; 46440 Benedict Drive, a 35,405 square foot medical office building in Sterling, VA, a submarket of Washington D.C.; and the 60,558 square foot High Pointe Health Campus located in Lake Elmo, MN in the Minneapolis/St. Paul market.

“These are well-located medical properties that present an opportunity to create premier, on- and off-campus, multi-tenant healthcare properties,” said Kyle O’Connor, MLL Capital President and Founder. “There continues to be strong interest from investors in value-add medical office, laboratory and life sciences properties, which offer some of the best risk adjusted returns in the market today given the underlying demand fundamentals and downside protection. These recent acquisitions have us on track to reach our goal of building a $500 million portfolio of institutional-quality assets in this sector.”

About MLL Capital

MLL Capital pursues opportunistic and value add real estate investments in the medical office and life sciences sector that create value through strategic capital investment, detailed repositioning and redevelopment plans with a strong focus on targeted leasing. Founded in 2016, the company has built a portfolio of investments under management that includes 14 buildings located in Illinois, Massachusetts, Minnesota, North Carolina, Tennessee, Texas and Virginia totaling 1 million square feet.

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Contact: Maureen Richardson, River Communications
mrichardson@riverinc.com
914.686.5599

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News Release: MedSquare Health inks 63,000 sq.ft. in new leases

By on January 15, 2020

New Medical Building Near Baptist Hospital Signs New Leases with Gastro Health, VITAS Healthcare, 

My OB/GYN Specialists, Village Pharmacy and Compounding, MedSquare Café, Studio M Pilates and Yoga, and South Miami Physical Therapy & Pilates

MIAMI (January 15, 2020) — MedSquare Health, a new $40 million Class “A” Medical Office Building by owners/developers AJP Ventures and Mas Group located next to Baptist Hospital of Miami, is proud to announce that the following businesses have signed a total of 63,000 square feet in leases: Gastro Health, VITAS Healthcare, My OB/GYN Specialists, Village Pharmacy and Compounding, Studio M Pilates and Yoga, South Miami Physical Therapy & Pilates, and MedSquare Café, operated by Concession Service Systems. MedSquare Health’s exclusive leasing agents for the property are Gordon Messinger and Ericka Witkowski of global commercial real estate leader Cushman & Wakefield.

A new 116,000-square-foot Medical Office Building expected to open in June 2020 at 9408 Southwest 87th Avenue in Miami, MedSquare Health will offer tenants a desirable combination of prime location, ultimate access and modern amenities. The new facility will expand the footprint of some of South Florida’s leading healthcare and wellness companies, including:

  • Gastro Health: 34,000 square feet on the second floor of the main building
  • Vitas HealthCare: 19,000 square feet in annex building
  • My OB/GYN Specialists: 5,100 square feet on the first floor of the main building
  • Village Pharmacy and Compounding: 1,400 square feet in annex building
  • Studio M Pilates and Yoga/South Miami Physical Therapy & Pilates: 2,250 square feet in annex building

In addition, MedSquare Café will be operated by Concession Service Systems and open in the annex building of the property, occupying 1,250 square feet. The café’s amenities will include a shared conference room available for tenants.

“We’re excited for our new tenants and this opportunity to serve our community in all areas of healthcare and wellness through a full spectrum of integrated providers encompassing every stage of life,” stated Alberto J. Pérez, Founder and President of AJP Ventures, and owner/developer of MedSquare Health.

ABOUT MEDSQUARE HEALTH

MedSquare Health is the first off-campus Class “A” Medical Office Building to be built in the Baptist Hospital of Miami submarket in over 20 years. Managed by owners/developers AJP Ventures and Mas Group, the three-story property will offer medical office solutions, customizable office areas and leasing space with a variety of tailor-made options for tenants. The property is a LEED certified building designed by Modis Architects with careful attention to the quality of tenant and patient experience, from the work environment to outdoor gathering spaces, with an emphasis on maximizing natural light throughout with floor-to-ceiling glass windows. Building amenities include a two-story parking garage with valet parking, 7:1,000 parking ratio, an on-site café and shared conference room space. MedSquare Health is located at 9408 SW 87th Avenue, Miami, Florida. For more information, please visit www.medsquarehealth.com.

ABOUT AJP VENTURES

Founded by Alberto J. Perez, AJP Ventures is a firm that acquires, develops and manages commercial real estate throughout South Florida, and provides investors and partners superior risk-adjusted returns throughout the multiple stages of the real estate market cycle. AJP’s notable, current commercial real estate projects include MedSquare Health, Mandarin Parc, MedSquare Place and One MedSquare. For more information on AJP Ventures and their current projects, visit http://www.ajpventures.com.

ABOUT MAS GROUP

Juan Carlos Mas leads the Mas Group of Companies, an investment group that seeks out strategic and transformational investments in real estate, construction equipment, healthcare, and technology sectors.  The Mas Group looks for opportunities not just to add capital, but to add its significant operational and strategic expertise in helping companies achieve their objectives. In addition to MedSquare Health, the Mas Group has invested in millions of square feet of real estate projects, encompassing all stages of development across multiple sectors. For over three decades, Mr. Mas has invested in, started, and advised numerous companies, helping to unlock shareholder value through growth initiatives and strategic acquisitions. For more information, please contact the Mas Group at 305-448-1088.

ABOUT CUSHMAN & WAKEFIELD

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

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