Healthcare

KLNB Negotiates $7.9M Sale of Medical Office Building in Fairfax, Virginia

by John Nelson February 10, 2025

FAIRFAX, VA. — KLNB has negotiated the $7.9 million sale of a multi-tenant medical office building in Fairfax, 14 miles outside Washington, D.C. Joe Friedman and Josh Norwitz of KLNB represented the seller and procured the buyer in the transaction. Both parties were not disclosed. Totaling 54,085 square feet, the property was 40 percent leased at the time of sale by medical tenants including sports rehab, post-op rehab, dentistry and behavioral health groups. Located at 8500 Executive Park Ave., the property is situated in a medical office cluster near major healthcare facilities such as Children’s National Hospital and Inova Fairfax Hospital.

February 10, 2025

Acquisitions Florida Healthcare Southeast

Marcus & Millichap Facilitates $23.4M Sale of Medical Office Building in Fort Walton Beach, Florida

by John Nelson January 24, 2025

FORT WALTON BEACH, FLA. — Marcus & Millichap has facilitated the $25.4 million sale of a 46,992-square-foot, multi-tenant medical office building in the Florida Panhandle city of Fort Walton Beach. Built in 2008, the three-story property is fully occupied by Orthopaedic Associates and Surgical Specialists ASC on a 15-year triple-net lease basis. Frank Roti, Brett Rodgers and Alex Sacks of Marcus & Millichap represented the seller, Emerald Coast Diversified Properties LLC, and procured the buyer, Montecito Medical Real Estate, in the transaction. Ryan Nee served as Marcus & Millichap’s broker of record in Florida for the deal.

January 24, 2025

Acquisitions Healthcare New Jersey Northeast Retail

Marcus & Millichap Brokers $5.4M Sale of Southern New Jersey Healthcare, Retail Property

by Taylor Williams January 23, 2025

DEPTFORD, N.J. — Marcus & Millichap has brokered the $5.4 million sale of Medical at Riverwinds, a 23,525-square-foot healthcare and retail property in Deptford, located outside of Philadelphia in Southern New Jersey. The two-building property sits on 2.2 acres and was fully occupied at the time of sale. Brent Hyldahl, Alan Cafiero and Seth Goldberg of Marcus & Millichap represented the seller, Strategic Funding Alternatives LLC, in the transaction and procured the buyer, a New York-based private investor.

January 23, 2025

Acquisitions Healthcare Southeast Tennessee

Cypress West, TPG Angelo Gordon Acquire 47,000 SF Medical Office Building in Franklin, Tennessee

by John Nelson January 22, 2025

FRANKLIN, TENN. — A joint venture between Cypress West Partners and TPG Angelo Gordon has purchased Cool Springs Professional Center, a 47,000-square-foot medical office building located at 2001 Mallory Lane in Franklin, a suburb of Nashville. The seller and sales price were not disclosed. Built in 1996, the property’s tenant roster includes Vanderbilt University Rheumatology and Results Physiotherapy, among other medical practitioners that collectively have a weighted average lease term (WALT) of 4.9 years. Cool Springs Professional Center represents the first Tennessee acquisition and eighth purchase overall for the Cypress West-TPG Angelo Gordon joint venture, which seeks to acquire up to $300 million in medical office assets in West Coast and Sun Belt markets.

January 22, 2025

Acquisitions Colorado Healthcare Western

Profere Partners Disposes of 104,438 SF Longmont Medical Campus in Colorado

by Amy Works January 22, 2025

LONGMONT, COLO. — Broomfield, Colo.-based Profere Partners has completed the disposition of Longmont Medical Campus, a medical outpatient building located at 1551 Professional Lane in Longmont. Terms of the transaction were not released. Originally built in 2002 and most recently renovated in 2022, the two-story multi-tenant facility offers 104,438 square feet of medical office space. At the time of sale, the property was 92 percent leased to 19 tenants, anchored by University of Colorado Medicine. Aaron Johnson, Travis Ives, Jon Hendrickson, Mitch Veremeychik, Gino Lollio and Tyler Morss of Cushman & Wakefield represented the seller in the deal.

January 22, 2025

Acquisitions Healthcare Northeast Pennsylvania

Marcus & Millichap Negotiates $2.9M Sale of Medical Office Building in York, Pennsylvania

by Taylor Williams January 20, 2025

YORK, PA. — Marcus & Millichap has negotiated the $2.9 million sale of a 10,000-square-foot medical office building in York, about 100 miles west of Philadelphia. The building at 1550 Rodney Road was fully leased at the time of sale to the University of Pittsburgh Medical Center. Spencer Koch, Scott Gould, Rory Shelby and Christopher Biuso of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was also not disclosed.

January 20, 2025

Acquisitions Healthcare Office Southeast Virginia

KLNB Brokers $9.2M Sale of Medical Office Building in Chantilly, Virginia

by John Nelson January 10, 2025

CHANTILLY, VA. — KLNB’s capital markets team has brokered the $9.2 million sale of a 21,540-square-foot medical office building located at 24801 Pinebrook Road in Chantilly, about 34 miles west of Washington, D.C. Seattle-based Elliott Bay Capital Trust purchased the facility, which was fully leased to Inova Health System at the time of sale. Joe Friedman and Josh Norwitz of KLNB represented the seller in the transaction. Friedman also represented the previous owner when it purchased the property in 2008.

January 10, 2025

Acquisitions California Healthcare Mixed-Use Office Retail Western

IPA Negotiates $35.6M Sale of Home Ranch Commons Medical, Retail Center in Yorba Linda, California

by Amy Works January 8, 2025

YORBA LINDA, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Home Ranch Commons, a mixed-use medical and retail property in Yorba Linda. Greenbridge Partners sold the asset to Optimus Properties LLC for $35.6 million. Tom Lagos, Mark DeGiorgio, Jose Carrazana and Patrick Toomey of IPA represented the seller in the transaction. Built in 1984 and renovated in 2018, the 60,737-square-foot Home Ranch Commons is co-anchored by UCI Health and Kiddie Academy. Additional tenants at the property include Blue Agave, YL Family Chiropractic, Bodhi Leaf Trading Co., Coder School and Torkian Aesthetic Center.

January 8, 2025

Acquisitions Healthcare Michigan Midwest

Cushman & Wakefield Brokers Sale of Henry Ford Health Hospital Building in Rochester, Michigan

by Kristin Harlow January 7, 2025

ROCHESTER, MICH. — Cushman & Wakefield has brokered the sale of the Henry Ford Health Rochester Hospital medical office building in Rochester, a northern suburb of Detroit. The sales price was undisclosed. The 113,687-square-foot property was built in 1994 and expanded in 2014. The facility is situated on the campus of Henry Ford Health Rochester Hospital, formerly known as Ascension Providence Rochester Hospital. Tenants include Henry Ford Health Providence Rochester, Henry Ford Health Family Practice and Contemporary Obstetrics and Gynecology PC. The hospital is part of the recently established partnership between Ascension Michigan and Henry Ford Health. Gino Lollio, Travis Ives, Sushil Puria, Tyler Morss and Garrett Keais of Cushman & Wakefield represented the seller, Detroit-based KIRCO. The buyer was UDLR Healthcare.

January 7, 2025

Company News Development Healthcare Utah Western

Fort Street Partners, Chestnut Healthcare Real Estate Form JV to Develop $150M in Healthcare Assets in Utah

by Amy Works January 3, 2025

UTAH — Salt Lake City-based Fort Street Partners and Chestnut Healthcare Real Estate have formed a programmatic joint venture that can acquire and develop up to $150 million in assets over the next four years. The venture will focus on core/core-plus and value-add investments in outpatient medical and surgery center properties in Utah. The partnership has already closed on two medical outpatient developments in Syracuse and Eagle Mountain, Utah. CJ Kodani and Mark Root of JLL Capital Markets arranged the joint venture.

January 3, 2025

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