Harrison Street Acquires 200,000-SF Outpatient Campus

PLYMOUTH, MN-When the WestHealth campus was developed in 1994, it was a unique concept in Minnesota. From busy Interstate 494, the complex at the intersection of State Highway 55 had – and still has – the look of a typical hospital campus. Yet the three buildings totaling 200,000 square feet of space are home to outpatient services only; a hospital-like campus without inpatient beds.

Recently, that campus changed hands, as Chicago-based Harrison Street Real Estate Capital LLC acquired the campus for $58 million, or $290 per square foot. The private equity investor added the WestHealth property to its Core Property Fund, which the company says includes “stabilized, income-producing properties” comprising education, healthcare and storage real estate.