Breaking Ground in Medical Real Estate
Below are recent medical office projects that have broken ground.
Olympic Medical Center has broken ground on a new 42,000 square foot medical office building on its campus in Port Angeles, WA. The $16.2 million project is being built by Kirtley Cole, LLC, an Everett, WA based general commercial contractor. The new building will help Olympic Medical Center grow capacity, to recruit and retain physicians and to expand quality health care services. The building will house a primary care practice and contain a walk in clinic and other practice groups.
The new Mercy Medical Arts Building in Miami is now under Construction. The new 116,000 square foot MOB will be located on the campus of Mercy Hospital, a 1.5 million square foot hospital owned and operated by HCA. The Medical Arts building is being built by Tampa based Onicx. Miami Mercy Medical Development obtained a construction loan from Centennial Bank for $20 million. The building has an estimated value of $30.4 million. The multitenant building has asking rents of $40 to $42 per SF and leasing is being handled by Jones Lang LaSalle. Here is a link to the property’s website.
Gritman Medical center recently broke ground on a 54,000 square foot medical office building in Moscow, Idaho. The three-story building will be located in the triangle lot between Eighth, Jackson and Main streets in Moscow and owned by Gritman Medical Park, a part of the same organization that owns Gritman Medical Center. Gritman Medical Center is a 25 bed critical access hospital.