Developments

Over the last 20 years, Healthcare Realty has developed more than four million square feet of outpatient medical facilities, representing an investment of over $1 billion. These properties, built in collaboration with health systems and third-party developers, improve the long-term value of the Company’s portfolio with the opportunity for enhanced returns.

Healthcare Realty’s in-house project management team can oversee all aspects of a development, but the Company also works with developers who have strong ties to a local health system and physicians. These developers benefit from Healthcare Realty’s immediate access to capital and experience developing on hospital campuses.

Through development, Healthcare Realty improves the quality of its portfolio and deepens its relationships with health systems by providing the new facilities needed to deliver care in an evolving healthcare environment.

Recent Developments

 

 

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Pima Medical Pavilion I & II
Scottsdale, Arizona

Building Profile

Two 2-story, multi-tenant medical office buildings

Pavilion I: 90,000 rentable square feet

Pavilion II: 90,000 rentable square feet

Off campus

Completed December 2008

Budget: $42.7 million

Hospital: Scottsdale Healthcare Shea Medical Center (Scottsdale Healthcare)

Key Tenants and Services: Ambulatory Surgery Center, Plastic Surgery, Fertility Clinic, Ophthalmology, Physical Therapy, Vascular Surgeon, Nephrology

4105 & 4125 Briargate Parkway
Colorado Springs, Colorado

Building Profile

Two 3-story, multi-tenant medical office buildings

4105: 81,000 rentable square feet

4125: 81,000 rentable square feet

Adjacent to campus

Completed August 2008

Budget: $27.4 million

Hospital: Memorial Hospital (University of Colorado Health)

Key Tenants and Services: The Children’s Hospital of Denver, Kaiser Permanente, Orthopedics, Imaging Center, Ob/Gyn, Physical Therapy, Pharmacy, Neurology, Optical

Medical Plazas 1 & 2
Lakewood, Colorado

Building Profile

Two 4-story, multi-tenant medical office buildings

Plaza 1: 91,000 rentable square feet

Plaza 2: 96,000 rentable square feet

840 space parking garage

On campus

Completed February 2012 (Plaza 1) and December 2011 (Plaza 2)

Budget: $55.2 million

Hospital: St. Anthony Hospital (CHI)

Key Tenants and Services: Rocky Mountain Cancer Center, Hanger Prosthetics & Orthotics, Colorado Opthamology Associates, DaVita Dialysis and Research Center, Colorado Heart & Vascular, St. Anthony Hospital Imaging Center and Women’s Center

Hale Pawa’a
Honolulu, Hawaii

Building Profile

9-story, multi-tenant medical office building

125,000 rentable square feet

410 space parking garage

Off campus

Completed August 2010

Budget: $86 million

Hospitals: Kapi’olani Medical Center (Hawaii Pacific Health), Straub Clinic and Hospital (Hawaii Pacific Health), The Queen’s Medical Center

Key Tenants and Services: Orthopedics, Imaging Center, Ambulatory Surgery Center, Women’s Center, Cardiology, Pharmacy, Clinical Lab, Plastic Surgery, Fertility Clinic, Internal Medicine

1600 Randall Road
Elgin, Illinois

Building Profile

4-story, multi-tenant medical office building

95,000 rentable square feet

Adjacent to campus

Completed December 2009

Budget: $26.4 million

Hospital: Sherman Hospital (Advocate Health Care)

Key Tenants and Services: Orthopedics, Wellness Center, Physical Therapy, Oncology

Mercy Orthopedic Surgical Facility
Springfield, Missouri

Building Profile

4-story, specialty inpatient surgical facility and outpatient clinic

8 expandable to 10 operating rooms, 48 beds, 54 exam rooms

186,000 rentable square feet

100% leased and occupied by Mercy Health

Completed September 2013

Budget: $111.4 million

Key Tenants and Services: Orthopedic Surgery Center, Physical Therapy, Pharmacy, Imaging, Lab, Orthopedic Clinic

425 University Boulevard
Round Rock, Texas

Building Profile

5-story, multi-tenant medical office building

130,000 rentable square feet

Adjacent to campus

Completed July 2009

Budget: $33 million

Hospital: Baylor Scott & White Hospital

Key Tenants and Services: Baylor Scott & White Plastic Surgery, Internal Medicine, Imaging Center, Ophthalmology, Dermatology, Neurology

18707 Hardy Oak
San Antonio, Texas

Building Profile

5-story, multi-tenant medical office building

117,000 rentable square feet

Adjacent to campus

Completed December 2009

Budget: $29.3 million

Hospitals: Methodist Stone Oak Hospital (HCA), North Central Baptist Hospital (Baptist)

Key Tenants and Services: Imaging Center, Ambulatory Surgery Center, Fertility Clinic, Ob/Gyn, Pain Management, Orthopedics, Pediatrics

Medical Arts Center III
The Woodlands, Texas

Building Profile

4-story, multi-tenant medical office building

97,000 rentable square feet

778 space parking garage

On campus

Completed July 2012

Budget: $18.1 million

Hospital: St. Luke’s Hospital (CHI)

Key Tenants and Services: MD Anderson Cancer Center, Berkeley Eye Center, Physicians Group of the Woodlands, Comprehensive Cardiovascular Care, St. Luke’s Hospital Primary Care Physician Group, Nuclear Medicine, Orthopedics

Overlake Medical Pavilion
Bellevue, Washington

Building Profile

7-story, multi-tenant medical office building

191,000 rentable square feet

740 space parking garage

On campus

Completed October 2011

Budget: $92.2 million

Hospital: Overlake Hospital

Key Tenants and Services: Proliance Orthopaedics & Sports Medicine, Overlake Medical Clinics, Overlake Medical Center, Center for Prosthetics Orthotics, Eating Recovery Center

Rob Hull

Executive Vice President, Investments

investments@healthcarerealty.com