The Jupiter, Florida-based real estate investment company will use the funds to acquire health care facilities in Texas, Ohio and Connecticut — one facility each. Healing Realty Trust is focused on developing real estate for clinics that house novel behavioral health treatments, especially psychedelic-assisted therapies.
Despite difficult capital conditions, the medical office sector remains a strong player in the commercial real estate industry, demonstrating resilience.
With that in mind, CommercialSearch just published a new report overviewing the medical office building market. The report looked at the 20 largest medical office deliveries of 2024, highlighting the markets with the most active medical office pipelines as well as the evolution of the largest U.S. medical building markets over the last 10 years.
The Madison market is home to the largest medical office building to be completed this year. Standing at 469,000 square feet, the Eastpark Medical Center is slated for completion in Q3 2024.
A rendering of the Intermountain Health Lutheran MOB. (CREDIT: Davis Partnership Architects)
The Intermountain Health Lutheran Medical Office Building in the Denver market will be the 11th-largest medical office delivery to be completed this year, standing at 137,000 square feet.
NexCore Group was selected by Intermountain Health to develop the 5-story, 130,000-square-foot medical office building on the new 28-acre Lutheran campus, located at 12905 W. 40th Ave. in Wheat Ridge. The campus, including the hospital, is being relocated about 3.5 miles from its current location. The independent medical office facility will connect to the new Lutheran Hospital via a pedestrian bridge. Planned building services include cardiovascular, maternal & fetal medicine, a weight loss center, a breast cancer center, a neurology and neurosurgery center, a laboratory, and a joint-venture ambulatory surgery center.
Click here to read the full CommercialSearch report.
Source: Mile High CRE
Medical City McKinney is embarking on a $50 million expansion project, adding a five-story, 124,500-square-foot medical office building adjacent to the hospital.
This expansion will accommodate more high-level medical specialists and critical services like cardiology and orthopedics, which are set to open in the summer of 2025. Complementing the recently opened $17 million women’s hospital in November 2023 and a $64 million patient tower with an ER expansion in December 2021, this project helps meet the needs of a vibrant and growing community by being done in three phases.
The first phase includes a new parking lot on the west side of the campus, providing over 550 additional spots for the convenience of patients, visitors, and staff.
Source: D CEO Magazine
Receive newly posted industry news and information delivered right to your email inbox!
