Med Office Daily - March 26, 2025

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NEWS ROUNDUP

ACQUISITION: Hammes Partners acquires Tosa Health Center in Wauwatosa, Wisconsin. Located at 1155 N. Mayfair Road, the 100,977 SF, three-story, Class A medical office building is fully leased to the Medical College of Wisconsin. CBRE advised on the transaction, with Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Trent Jemmett, and Jesse Greshin from CBRE U.S. Healthcare Capital Markets partnering with Devin Tessmer of CBRE’s Milwaukee Advisory and Transaction team to represent the seller.

ACQUISITION: Montecito Medical acquires MOB in Bloomington, Illinois. The 14,649 SF property is fully leased to Illinois Cancer Care, a leading oncology provider in the region. The facility offers comprehensive oncology services, including PET imaging. This marks Montecito’s second Illinois acquisition in the past year. CEO Chip Conk and Senior Vice President of Investments at Montecito Medical Rus Gudnyy, represented Montecito Medical in the transaction.

LEASE SIGNING: Great Expressions Dental Centers renews its 2,979 SF lease at Summit Plaza in Hackensack, N.J. A tenant at Summit Plaza since 2014, Great Expressions provides comprehensive dental care across 250 locations in nine states. Summit Plaza, a 100,000 SF retail center anchored by Stop & Shop, offers high visibility and convenient access to major highways. Leasing opportunities remain available from 1,450 to 4,245 square feet. Alfred Sanzari Enterprises negotiated the renewal, with Chris DeLorenzo and Carolina Gutierrez representing the landlord and Lillian Calsi of JLL representing the tenant.

DEVELOPMENT: Broward Health Coral Springs opens a new in-patient unit on the fourth floor of its south tower. The newly built $16 million medical-surgical and step-down intermediate recovery unit adds 28 private rooms, increasing the hospital’s inpatient capacity from 250 to 278 beds. The unit features advanced patient monitoring equipment to enhance care quality. DPR Construction served as the general contractor, with Nelson Worldwide handling architectural design. Coral Springs City Manager Catherine Givens, City Commissioner Shawn Cerra, Tamarac Vice Mayor Dr. Kicia Daniel and Commissioners Nancy Stamper and Stacy Angier from the North Broward Hospital District's Board of Commissioners attended the ribbon-cutting ceremony on February 18. Kristen Bowman and Shane Strum represented Broward Health in the ceremony.

DEVELOPMENT: Sutter Health announces plans for a $1 billion flagship campus in Emeryville to expand patient access across the East Bay region. The project will be built on the newly acquired 12-acre Emery Yards at Horton and 53rd streets. At full buildout, the 1.3 million SF campus will feature a regional ambulatory care complex and a medical center with up to 200 beds, with room for future expansion. Sutter Health’s CEO and President Warner Thomas called the project one of the system’s most significant investments for the next decade.

FINANCING: CBRE secures $29.7 million in loans for three medical office complexes across California and Texas. The $10.7 million loan for Alvarado Medical Office in San Diego is a 15-year fixed-rate loan that carries an interest rate of 4.15%. The Dallas and Pampa Medical Office Buildings received an $8 million loan with a 4.07% interest rate for four buildings in Farmers Branch and one in Pampa, Texas. The Centinela Medical Office complex in Inglewood, California, secured an $11 million, 15-year fully amortizing loan at a 4.50% interest rate. CBRE’s Capital Markets’ Debt and Structured Finance team, including Bruce Francis, Dana Summers, Bob Ybarra, and Shaun Moothart arranged the financing on behalf of the borrower.

MED OFFICE PROPERTIES FOR SALE

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2,317 SF Suite | 22,165 SF Building (3 Stories) | Access to City of Colorado Springs Municipal Airport | Four Operatory | 100 Surface & 33 Covered Parking Spaces

5,600 SF Building | Full MEP Design

10,500 SF Building (2 Stories) | Access to I-270 and I-70 | 9’ Slab To Slab | 4.9/1,000 SF Parking Ratio

MED OFFICE PROPERTIES FOR LEASE

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3,692 SF Suite | 13,596 SF Building (2 Stories) | Access to Charlotte/Douglas International Airport | 66 Surface Parking Spaces

3,058 - 6,000 SF Suites | 11,500 SF Building (2 Stories) | 9 Exam Rooms, X-Ray & Lab | 6/1,000 Parking Ratio

3,167 SF Suite | 34,000 SF Building (2 Stories) | 5/1000 Parking Ratio | Access to I-485, Hwy 51, & Charlotte/Douglas Intl Airport

ONE MORE THING

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