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3/15/22
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A two-building, 31.5k sf medical office property portfolio traded in a recent $14.4 mil ($457/sf) transaction. The assets, which include a 15k sf building in Hayden, ID and a 16.5k sf building in Layton, UT, are both 100% leased to BioLife Plasma Services L.P, an industry leader in the collection of high-quality plasma that is processed into life-saving plasma-based therapies.
781 Heritage Park Blvd, Layton, UT |
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The properties were sold by Livingston Street Capital. They include:
• 8300 N. Cornerstone Drive in Hayden, ID: Located in the eastern portion of Hayden, conveniently situated just off U.S. Route 95.
• 781 Heritage Park Blvd in Layton, UT: Located in Layton, the most populous city in Davis County and the ninth most populous city in the state.
“The properties greatly benefit from the strength of the tenant and its long-term operating history at both of these locations,” said Peter Scola, President and Co-CEO of Livingston Street Capital. “There is strong investor demand for healthcare assets due to the duration of income and attractive stability they provide throughout economic cycles. Medical offices further proved their resilience during the pandemic, seeing the lowest decline in investment volume in 2020 of all major property sectors, and an increase in average asking price over that same period.”
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