As noted in our earlier story reporting the total volume for medical office building (MOB) sales in Q1, large portfolio deals did not dominant trade activity in the early part of the year.
However, the quarter's transactions include a number of interesting and large single-building or single-asset deals, nine of which are included in the list of the top 10 deals from the quarter. Most of the information comes by way of New York-based Real Capital Analytics (RCA) Inc.
- $193.56 million, Washington Real Estate Investment Trust (WRIT) Portfolio.
This sale represents the closing of the final two tranches in a four-tranche, $500.75 million portfolio deal in which Chicago-based Harrison Street acquired more than 20 medical properties from WRIT. The buildings are in the Greater Washington, DC, area. Cassidy Turley represented WRIT. - $48 million, Palmed Office Building, Hialeah, FL.
Dallas-based Tenet Healthcare Corp. (NYSE: THC) acquired the 164,000-square foot building near one of its hospitals in Hialeah. The price per square foot (PSF) was $293. - $39.9 million, Peachtree Dunwoody Medical Center, Atlanta.
Milwaukee-based Physicians Realty Trust (NYSE: DOC) purchased the 131,000-square foot building located in Atlanta's “Pill Hill” district from North American Property Corp. The PSF was $305. Newmark Grubb Knight Frank represented the seller. - $35 million, 1435 N. Randall Road, Elgin, IL.
The 93,000-square foot MOB on the campus of Advocate Sherman Hospital in Elgin was acquired by Harrison Street from Appleton, WI-based The Boldt Co. the PSF was $376. - $32 million, 10740 Medical Office Building, Dallas.
Long Beach, CA-based HCP Inc. (NYSE: HCP) acquired the building, also known as the Eye Institute of Texas, from Newport Beach-based IRA Realty Capital. IRA had acquired the 92,000-square foot facility in 2012. A local office of CBRE Group Inc. as well as its national healthcare group represented the seller. - $24 million, Croasdaile Commons, Durham, NC.
Toledo, OH-based Health Care REIT (NYSE: HCN) purchased the facility, a converted shopping center, for $357 PSF. The former Loehmann's department store space is now occupied by Duke Medicine. Glenwood Development, the owner since 1999, redeveloped and then sold the facility. - $23 million, Meridian Mark Plaza, Atlanta.
Children's Healthcare Atlanta acquired the 159,000-square foot medical office from Atlanta-based Cousins Properties. CBRE represented the seller. Children's is a major tenant in the facility, where it operates a surgery center. The PSF was $145. - $21.6 million, Thatcher Medical Center, Pasadena, CA.
IRA Realty Capital acquired the 70,046-square foot building at a PSF of $309. The seller was IDS Real Estate and the broker was Holliday Fenoglio Fowler (HFF) Inc. - $20.3 million, Woodlake Centre, Minneapolis.
Affiliated firms Laurus Corp. and Ethika Investments of Los Angeles acquired the two-building property with a total of 190,714 square feet from Atlanta-based VEF Advisors. The PSF was $106. Keystone Realty Capital brokered the deal. - $19.5 million, Eagle Medical Center, Carson City, NV.
Griffin-American Healthcare REIT II purchased the facility from New York-based Laub Realty for $264 PSF. The facility has 73,975 square feet of space.
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