POCATELLO, ID-Grubb & Ellis Healthcare REIT II Inc. hasclosed on its purchased of a 98.75% interest in Pocatello EastMedical Office Building, a four-story 76,000-square-foot facilityin Pocatello. According to the company’s 8-K filing with the SEC,the REIT paid $15.8 million
The class A multi-tenant facility is located at 777 HospitalWay. Pocatello East Medical Office Building is attached to the250-bed Portneuf Medical Center, the only acute care facilitywithin 50 miles.
A significant renovation and expansion project is currentlyunderway that will add an additional 300,000 square feet to themedical center in mid-2011. “We believe the acquisition ofPocatello East Medical Office Building is a home run for Grubb& Ellis Healthcare REIT II,” says Danny Prosky, president andchief operating officer.
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