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Davis Acquires Woodbury, Minnesota MOB For $18 Million

Davis Acquires Woodbury, Minnesota MOB For $18 Million

by | Dec 8, 2022 12:38 pm | Medical Office Buildings, Other Services

Davis acquired Woodlake Medical Building, a two-story, 42,467-square-foot medical office building (MOB) in Woodbury, Minnesota, for $18 million, or approximately $424 per square foot. Bridgewater Bank provided the financing. Located on 4.73 acres, the property boasts an outpatient surgery center and recently upgraded, digitally controlled VAV and HVAC systems. Davis, founded in 1986, is a national healthcare real estate firm that offers expertise in healthcare real estate development, property management, brokerage, investment and consulting services to health systems, hospitals, individual medical groups, specialty practices and other healthcare organizations. The company has developed 35... Read More »
Pacific Coast Commercial Brokers Sale of La Mesa, California MOB

Pacific Coast Commercial Brokers Sale of La Mesa, California MOB

by | Dec 6, 2022 1:44 pm | Medical Office Buildings, Other Services

Pacific Coast Commercial has negotiated the sale of a medical office building (MOB) in La Mesa, California. Magnolia Mar Properties sold the asset to Family Health Care Centers of San Diego for $8.4 million.  According to the LevinPro HC database, this marks the 200th MOB acquisition of 2022 and the 18th announced in California year-to-date. The property features 25,916 square feet of medical office space. Current major tenants include County of San Diego and Penchecks. The price is $324 per square foot. Brian Crepeau and Ken Robak of Pacific Coast Commercial represented the seller, while Kelly Moriarty and Chris Ross of JLL represented the buyer in the deal. US Bank provided... Read More »
​​Arlington Capital Partners’s Everest Clinical Research Acquires Brightech International

​​Arlington Capital Partners’s Everest Clinical Research Acquires Brightech International

by | Dec 2, 2022 12:38 pm | CRO, Other Services, Private Equity

Everest Clinical Research, an Arlington Capital Partners portfolio company, announced on December 1 its acquisition of Brightech International. Brightech will continue to be led by Dr. Tai Xie, the company’s CEO and founder, and the existing management team. Terms of the deal were not disclosed. Founded in 2002, Brightech International is a contract research organization (CRO) that specializes in complex, value-add biostatistics, programming and clinical data management services. Like Everest, Brightech has built a reputation as a critical partner for some of the world’s largest pharmaceutical and biotech companies. In addition to its New Jersey headquarters, Brightech has an expanded... Read More »
Cushman & Wakefield Brokers Sale of Escondido, California MOB

Cushman & Wakefield Brokers Sale of Escondido, California MOB

by | Dec 1, 2022 2:37 pm | Medical Office Buildings, Other Services

Cushman & Wakefield brokered the sale of a 26,945-square-foot freestanding medical and office building in Escondido, California. The property sold for $8.1 million, approximately $301 per square foot. The buyer was The Elizabeth Hospice, which for more than 40 years has been providing medical care and grief support to patients and families dealing with the challenges associated with an advanced, life-limiting illness. The Elizabeth Hospice will initially occupy 80% of the building with plans to occupy the entire building as the existing tenants vacate. A team from Cushman & Wakefield represented the seller, a private local investor, in the transaction. According to the LevinPro HC... Read More »
Cushman & Wakefield Arranged the Sale of New Jersey Medical Office Building Portfolio

Cushman & Wakefield Arranged the Sale of New Jersey Medical Office Building Portfolio

by | Nov 29, 2022 2:23 pm | Medical Office Buildings

Cushman & Wakefield on November 28 announced that it arranged the sale of a medical office building portfolio in Wayne, New Jersey, that sold for $22.25 million. Cushman & Wakefield represented the seller Chopp Holdings. The buyer was undisclosed.  Oak Hill Park is a Class A medical and office park totaling 122,600 square feet across two buildings. The property is 95% leased to more than 30 tenants, with a 42% medical tenant base. Medical practices include pediatrics, foot and ankle specialists, neurology, spine orthopedics, dentistry, plastic surgery and more. The price was $181 per square foot. According to the LevinPro HC database, this acquisition marks the 193rd medical... Read More »
A Resilient Industry: M&A Trends in Specialty Pharmacy

A Resilient Industry: M&A Trends in Specialty Pharmacy

by | Nov 29, 2022 9:24 am | Other Services, Specialty Pharmacies

Significant changes have swept the specialty pharmacy market over the past several years. It was once a niche in the pharmacy industry but has grown significantly in market size. According to a report by Axtria, specialty drug spending is growing and constituted about 46% ($222.9 billion) of all prescription drugs in 2019, compared with 34.9% ($132 billion) in 2014. These numbers make sense with the tailwinds that pushed the industry, such as an aging population in the U.S. creating a greater need for medications that treat chronic and complex diseases.  Most of the changes in the market have come from M&A activity. Consolidation has swept the industry, with a few players controlling... Read More »