PRESS ROOMNEWS RELEASE
Inland Real Estate Acquisitions, Inc. Purchases Four Medical Office PropertiesMarch 20, 2017
Oak Brook, Ill. – Inland Real Estate Acquisitions, Inc. announced today that it facilitated the acquisitions of four medical office buildings, located in North Carolina, Texas and Utah, for a combined total of nearly 119,000 square feet of commercial real estate. Matthew Tice, senior vice president of Inland Real Estate Acquisitions, Inc., facilitated the transactions on behalf of an Inland affiliate.
UNC REX Cancer Center, a 13,131-square-foot cancer treatment center located at 117 Sunnybrook Road in Raleigh, North Carolina, was constructed in 2013. Located within the Raleigh-Durham region, which is known as the Research Triangle, the one-story medical office building provides the more than 194,000 residents living within a five-mile radius with convenient care and access to a cancer treatment facility.
Constructed in 2012, the Texas Orthopaedic & Sports Medicine Facility is a 36,804-square-foot medical office building located at 13603 Michel Road in Tomball, Texas, approximately 32 miles northwest of Houston. The property consists of state-of-the-art surgical suites, pre-op rooms, patient exam and X-ray rooms and a therapy center with private physician offices.
Jordan Valley Cancer Center is a 25,056-square-foot community cancer center for inpatient and outpatient care located at 3592 West 9000 South in West Jordan, Utah, approximately 17 miles southwest of Salt Lake City. Built in 2016, the building is situated on the Jordan Valley Medical Center campus, which is located west of I-15, between West Jordan and South Jordan.
Located at 1431 Studemont Street in Houston, Texas, Memorial Hermann Acute Care Center is a 44,000-square-foot acute care facility occupied by Memorial Hermann Health System, which has been in operation since 1911 and currently operates over 13 hospitals with 5,500 affiliated physicians and 24,000 employees. Built in 2016-17, the property is part of the new Studemont Junction development and will provide one-stop adult and pediatric primary care, specialty physicians, sports medicine and rehabilitation, outpatient imaging and lab services and a 24-hour emergency room.
“These newly constructed medical office buildings have well-established tenants and are ideally located within their respective regions, making them a prime example of the type of acquisitions we continue to seek out in our health care product line,” said Tice.
To date, Inland Real Estate Acquisitions, Inc. has facilitated more than $44 billion of purchases including retail centers, apartments, single-tenant properties and a total of nearly $200 million in medical office buildings.
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About Inland Real Estate Acquisitions, Inc.
Inland Real Estate Acquisitions, Inc. is the purchasing arm for various entities that are a part of The Inland Real Estate Group of Companies, Inc., a group of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored or managed by Inland Real Estate Investment Corporation or its subsidiaries (collectively, “Inland”). For additional information, please refer to Inland’s website at www.inlandgroup.com.