For-sale medical office buildings are supposed to be in short supply, yet the head of a national real estate firm that brokers such facilities is seeing plenty of opportunities.

Mindy Berman, a managing director and practice lead for healthcare in the JLL Capital Markets Group reports that the company currently has three MOB deals currently on the market and, potentially, more in the pipeline.

On one of the deals, JLL recently closed offers and the seller, an orthopedics group in Arlington, TX, has chosen a buyer for a two-building portfolio that it put on the market earlier this year. The deal for the 49,660 square foot portfolio is expected to close in coming weeks, with a currently unnamed buyer paying what amounts to be a “strong price” for the two buildings, which are 100 percent-occupied and located in Arlington and Mansfield, TX. The area is between Fort Worth and Dallas.

Representing the seller, the 21-physician Arlington Orthopedic Associates, from JLL are, Daniel Turley, a VP in the Boston office, and Steven Leathers, a senior VP.

Another offering by JLL is the Mt. Vernon Medical Building in Mt. Vernon, WA, on the campus of the 137-bed, publicly owned Skagit Valley Hospital, about 60 miles north of Seattle. The new building has 52,900 square feet of space and is leased to two tenants: the hospital, which has its cancer and cardiology centers in 62 percent of the building; and the Veterans Administration (VA) Puget Sound Health Care System, which leases the remainder of the space.

The building was put on the market by a private owner, with offers due in coming weeks.

The last offering is a portfolio of six clinics in eastern Wisconsin that are leased by Milwaukee-based Aurora Health Care, a 15-hospital system in Wisconsin and northern Illinois. The portfolio has a total of 153,000 square feet in six off-campus facilities that were all constructed in the mid-2000s. The buildings offer primary and specialty care services, urgent care, labs, and other services.

While Berman was not ready to name the seller, she noted that it is the original owner of the properties, not a developer.

And what is the reason for the new offerings hitting the market? Strong demand, which is driving up pricing and enticing owners to sell, Berman said.

“Many owners were not considering selling until pricing got so strong,” she said.

Ms. Berman noted that JLL has several other offerings coming to market, which include portfolios, in coming weeks and months. She declined to discuss the details about the offerings.

John B. Mugford is the Editor of Healthcare Real Estate Insights™, the nation's first and only publication totally dedicated to covering news and trends in healthcare real estate development, financing and investment. For more information, please visit www.HREInsights.com.

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