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November 29, 2022
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Four-Property Medical Office Portfolio Sells for $75 Mil

2/23/22

A four-property, 280k sf medical office portfolio in the metro areas of Phoenix, Cleveland and San Antonio was acquired by an unnamed investor in a $75 mil ($268/sf) transaction. The buildings are located in densely populated areas and are 83% leased with connectivity to regional health systems and physician practices.

Dominion Crossing, San Antonio, TX
Dominion Crossing, San Antonio, TX
The portfolio includes these four properties:

Rome Towers, located at 1760 E Pecos Rd in Gilbert, AZ
Southwest General Middleburg Medical Center, located at 18780 E Bagley Rd in Middleburg Heights, OH
Middleburg Medical Arts I & II, located at 18660 E. Bagley Rd in Middleburg Heights, OH
Dominion Crossing, located at 21727 IH 10 West in San Antonio, TX

Chris Bodnar, Lee Asher, Jordan Selbiger, Ryan Lindsley, Sabrina Solomiany and Zack Holderman with CBRE Healthcare and Life Sciences Capital Markets group represented the seller, Woodside Health, in the transaction.

Nationally, medical office sales are projected to have reached a new high in 2021, surpassing $16 bil, according to preliminary data from Revista. CBREs Healthcare and Life Sciences Capital Markets group had its own record-setting year in 2021. The practice advised on the sale/acquisition of 205 properties and the financing of 39 properties, totaling $3.27 bil in transaction volume.





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