News: Brokerage

News Outside the Region: Duke Realty to develop 37,000 s/f medical facility

Santa Clarita, CA According to Duke Realty, it will break ground early this summer on a two-story, 37,000 s/f, off-campus medical office building (MOB) on 3.85 acres on the south side of Soledad Canyon Rd. in the Canyon Country neighborhood, which is about 33 miles northwest of Los Angeles.

The MOB will be owned by Duke Realty and has been 100% preleased by Facey Medical Group, an affiliate of Providence Health and Services, a not-for-profit Catholic health system.

“We are pleased to begin developing a new, larger medical facility so that we can expand the services we offer area residents,” says Dr. Fredrick Russo, president of Facey Medical Group. “With this new modern building, we will be able to relocate the Facey Clinic currently at 17909 Soledad Canyon Rd., plus add much-needed services in a convenient and accessible site.”

Keith Konkoli, Duke Realty executive vice president, healthcare, said, “While Duke Realty has developed a number of industrial properties in Southern California, we are really excited to expand our healthcare footprint to include this dynamic market. We are also pleased to work for the first time with Facey Medical Group, a multispecialty physician group that provides high-quality, compassionate medical care to its patients.”

The architect for the project will be Boulder Associates, which has offices in California, Colorado and Texas, and the general contractor will be Irvine, Calif.-based Snyder Langston. The MOB is expected to be completed in June 2018.

MORE FROM Brokerage

Horvath & Tremblay Announces Strategic Integration of B6 Real Estate Advisors, Expanding New York City Presence

New York, NY Horvath & Tremblay, a premier real estate services firm specializing in investment real estate brokerage, 1031 exchanges, debt/equity placement, and appraisal & valuation services, announced the strategic integration of B6 Real Estate Advisors into the firm’s growing national platform.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced