In the Pipeline: Perkins Eastman to Design MOB in NYC
Perkins Eastman Designs MOB in New York City
Dune Real Estate Partners and Princeton International Properties plan to convert a 15-story office building on the Upper East Side in New York City into a medical office building, New York Yimby reported.
A great deal of the building’s facade will be replaced and the lobby of the building will be redesigned, the article says. When it’s finished sometime in 2017, the property—called PARK SIXTY MEDICAL—will include 155,000 square feet of space outfitted with the latest medical infrastructure, the article says.
Perkins Eastman is the architecture firm designing the renovation.
$25 Million MOB Breaks Ground in Shiloh, Illinois
St. Louis, Missouri-based BJC HealthCare and the team behind Memorial Hospital in Shiloh, Illinois, recently broke ground on a new medical building on the campus of Memorial Hospital East in Shiloh, O’Fallon Weekly reported.
The $25 million medical office building will be located on the eastern portion of the 94-acre campus of Memorial Hospital East. The building is anticipated to provide office space for primary care physicians and physician specialists, as well as space for laboratories, imaging, physical therapy, occupational therapy and speech therapy. The building will also house a breast health center.
12,000-Square-Foot Building in New Jersey to Convert to MOB
A 12,000-square-foot building in Cherry Hill, New Jersey, has been sold to an entity related to Regional Orthopedic for $1.6 million, NJBiz reported.
The two-story building is expected to be converted into medical office space, according to Colliers International.
Evan Zweben, a senior vice president in Colliers’ office in Mount Laurel, New Jersey, represented the affiliate of Regional Orthopedic in the deal.
The seller of the building was undisclosed.
Ambulatory Care Center to Open in Frisco, Texas
Texas Scottish Rite Hospital for Children recently broke ground on its new ambulatory care center in Frisco, Texas.
The 345,000-square-foot building will represent the hospital’s first expansion from its original location in downtown Dallas, Frisco Enterprise reported.
The ambulatory care center will perform onsite orthopedic surgery and offer clinical visits. The care center will have an open layout, as well as playground-sand walking trails.
Officials anticipate the care center to open sometime in 2018.
Erlanger Health System to Expand into New MOB
Chattanooga, Tennessee-based Erlanger Health System recently announced it plans to lease medical office space in a building that’s yet to be built, the Times Free Press reported.
Initially, Erlanger plans to lease approximately 48,500 square feet in the building. The building, which is 80,000-square-feet in total, will have a linear accelerator for radiation therapy on the first floor. The second floor will concentrate on breast cancer, and the third floor will be dedicated to dermatology, plastic surgery and a gastrointestinal and pulmonary suite, according to the Times Free Press.
Erlanger plans to spend approximately $778,000 per year for the space, according to Ross Edwards, Erlanger’s director of medical office buildings. Erlanger intends to sign a 15-year lease for the space, with the possibility of leasing the fourth floor in the future.
The building will take approximately 15 months to build, Edwards said.
Campus of For-Profit College in Florida to be Converted into Medical Office Complex
The campus of a now-defunct for-profit college in West Kendall, Florida, is set to become a medical office complex, the Miami Herald reported.
Care Medical Center Group purchased the West Kendall campus of for-profit Mattia College for $11.5 million.
Institutional Property Advisors (IPA) broker Benjamin Silver and Marcus & Millichap’s Doug Mandel handled the sale.
Written by Mary Kate Nelson
Companies:BJC HealthCare, Care Medical Center Group, Colliers International, Dune Real Estate Partners, Erlanger Health System, Institutional Property Advisors, IPA, Marcus & Millichap, Perkins Eastman, Princeton International Properties