Med Office Daily - April 2, 2025

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NEWS ROUNDUP

ACQUISITION: Flagship Healthcare Properties acquires a medical outpatient building and ambulatory surgery center in Grapevine, Texas. Located at 2201 Westgate Plaza, the 17,724 SF, Class A facility was built in 2010 and features clinical office space, eight exam rooms, and two operating rooms. The property is 100% leased to a joint venture between Key Whitman Eye Center and Surgery Partners. Situated along State Highway 114, the property is near major hospitals, including Baylor Scott & White Medical Center. Flagship’s Executive Vice President of ASCs, Blake Bratcher represented Flagship in the transaction.

ACQUISITION: Elliott Bay Capital Trust, in partnership with Pantheon acquires MOB in Georgetown, Texas. Located within Georgetown’s medical corridor, just 900 feet from St. David’s Georgetown Hospital ,the 8,680 SF property is fully leased to Georgetown Orthopedic Group, a subsidiary of St. David’s Healthcare, which operates in partnership with HCA Healthcare. Purpose-built for orthopedic services, the facility offers joint replacements, sports medicine, physical therapy, and surgery. CEO Christian Whipple represented Elliott Bay in the transaction.

LEASE SIGNING: Larken Associates secures two medical office leases at Greenwich Commons in Stewartsville, N.J. Greenwich Commons is a 42,896 SF professional and medical office building located at 1 Greenwich Street in Stewartsville, N.J. with premium visibility and modern amenities. Hunterdon Health has signed a 10,000 SF lease, expanding its regional presence, while Tri County Care Management Organization (Tri County CMO) has leased 10,217 SF to enhance its support services for children and families. Victor Kelly represented Larken Associates in transaction with Hunterdon Health, while in transaction with Tri County CMO, JLL represented the firm and CBRE represented the tenant. Hunterdon Health’s Chief Strategy Officer Kimberly Tennant represented their internal team.

DEVELOPMENT: CaroMont Regional Medical Center-Belmont is now open near Exit 27 on I-85. Located on a 28-acre medical campus near Belmont Abbey College, the hospital is part of CaroMont Health’s $400 million investment in Gaston County, North Carolina. The 54-bed facility features an advanced emergency department, a family-centered maternity unit, a state-of-the-art surgical suite, and comprehensive diagnostic and imaging services. Designed for patient comfort, the hospital features private rooms, expansive family areas, a chapel, and a modern cafeteria. The project was made possible through a partnership with Belmont Abbey College and The Southern Benedictine Society. Richard Blackburn and Chris Peek represented CaroMont Health, while Abbot Placid Solari and Dr. Bill Thierfelder represented Belmont Abbey College.

DEVELOPMENT: Howard Hughes is set to develop its first build-to-suit medical office for Memorial Hermann Health System in Bridgeland. Located at Tuckerton and Fry Road, the 51,000 SF facility, marking the initial phase of a planned 1 million square feet of medical facilities, will bring high-quality healthcare to the growing community, which is projected to reach 70,000 residents at full build-out. Construction is set to begin this summer, with Tellepsen Builders and Powers Brown Architecture leading the project. JLL’s Tim Gregory and Kendall Kerr will oversee medical leasing, with Memorial Hermann represented by Tony Armstrong of A.A. Armstrong Commercial Real Estate and Howard Hughes by Jacob Weersing of Capital Retail. Jim Carman, President, Houston Region at Howard Hughes called this development a significant step forward in the commitment to a fully integrated community. Kyle Price, Senior Vice President, Service Lines at Memorial Hermann Health System also participated.

FINANCING: Gantry secures a $30 million permanent loan to refinance Davis Square Center in Somerville, MA. Located at 40 Holland Street in Somerville, the 101,000 SF, four-story medical office building is fully leased, with 64% occupied by Atrius Health. The five-year, fixed-rate loan was provided by one of Gantry’s correspondent insurance lenders with 30-year amortization. Gantry will service the loan. Principal Andy Bratt and Associate Sean Kuang from Gantry’s Irvine office represented the borrower, a leading healthcare REIT.

MED OFFICE PROPERTIES FOR SALE

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4,330 SF Building | 20 Parking Spaces | 100% Occupancy

35,406 SF Building (2 Story) | Access to Southwest Georgia Regional Airport |  20 Exam Rooms, 2 X-ray Rooms & 2 MRI rooms | 144 Parking Spaces

7,341 RSF Building | 2.04/1,000 SF Parking Ratio

MED OFFICE PROPERTIES FOR LEASE

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3,941 SF Building | Access to I-85, and Concord-Padgett Regional Airport | 2 Exam Rooms, 1 Procedure Room, & Reception Area

22,669 SF Building | Access to Concord-Padgett Regional Airport | 80 Surface Parking Spaces

67,198 SF Building (3 Story) | Access to I-85, Concord-Padgett Regional Airport | 578 Surface Parking Spaces

ONE MORE THING

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