Marcus & Millichap Real Estate Investment Services recently arranged the sale of Blaine Medical Center, a 76,637-square-foot medical office building located north of the Twin Cities in Blaine, Minn.
The facility sold for $14.5 million.
Gino Lollio and Scott Niedergang, senior associates and members of Marcus & Millichap’s Healthcare Real Estate Group in the firm’s Chicago downtown office, represented the seller, a partnership between the anchoring physician group in the building and a local developer.
Lollio and Niedergang also represented the buyer, a REIT that owns independent-living and assisted-living communities, continuing-care retirement communities, nursing homes, wellness centers and medical office, clinic and biotech laboratory buildings throughout the United States.
© 2014 Real Estate Communications Group. Duplication or reproduction of this article not permitted without authorization from the Real Estate Publishing Group. For information on reprint or electronic pdf of this article contact Mark Menzies at 312-644-4610 or email@example.com