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Med Office Daily - July 23, 2025

Med Office Daily - July 23, 2025

MedProperties buys Chicago Ridge MOB. Woodside buys two Orlando MOBs. Elliott Bay buys Richmond MOB. Davis opens Lakeville ENT clinic. Davis wins HREI award for Eagan. Six new MOB deals.

Matt H & Maham Riaz
July 23, 2025

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NEWS ROUNDUP

ACQUISITION: MedProperties Realty Advisors acquires MOB in Chicago Ridge, IL. Millennium Medical Center, a 41,540 SF medical office building, is located at 10606 Southwest Highway in Chicago Ridge. Built in 2018, the two-story facility is anchored by a US Oncology affiliate and features a complementary tenant mix with long-term leases. Managing Principal Darryl Freling represented MedProperties in the transaction. Debt financing was provided by Old National Bank. Terms were not disclosed.

ACQUISITION: Woodside Health acquires two MOBs in the Orlando, Florida metropolitan area. Town Loop Medical Center and Parkway Medical Office Plaza, two fully leased healthcare properties totaling 50,000 SF, are located along the S. John Young Parkway Corridor in Kissimmee, FL. The assets expand Woodside’s portfolio to 64 properties nationwide. Ben Barr represented Woodside Health in the transaction. Terms were not disclosed.

ACQUISITION: Elliott Bay acquires MOB in Richmond, VA, for $9M. The 34,671 SF medical office building, 1000 Boulders Parkway, is fully leased and located in Boulders Office Park near HCA’s Chippenham Hospital. The facility is anchored by Pulmonary Associates under a long-term lease. Cushman & Wakefield | Thalhimer’s Capital Markets Group represented the seller, PAR Boulders, LLC.

DEVELOPMENT: Davis opens 14,000 SF Midwest ENT Clinic in Lakeville, MN. Delivered in just 10 months, the Class A medical facility features eco-friendly design, high ceilings, and abundant natural light. Located at 11020 West 161st Street, the building enhances access to ENT, allergy, facial plastics, and medical spa services for the growing south metro community. CEO Mark Davis called this project a commitment to creating high-quality healthcare spaces.

DEVELOPMENT: Davis’ Eagan Specialty Center wins HREI MOB Award. Davis has received the 2024 HREI Award for Best New Development in the 25,000–49,999 SF category for Eagan Specialty Center in Eagan, MN. The 36,100 SF surgical facility, home to Midwest Surgery Center, was recognized for its quality design and strategic execution. Synergy Architecture Studio and Timco Construction partnered on the project. Mark Davis received the award.