Healthcare W Minnesota

Colliers helps Smiths Medical sell Minneapolis-area medical center building

Represented by Colliers International, Smiths Medical has sold its former headquarters building in Arden Hills, Minnesota, to developer Forum Equity Partners.

Forum Equity Partners, which closed on the 165,000-square-foot office-tech space, has plans to renovate and reposition the building back into a multi-tenant office flex building.

Smiths Medical, a unit of London’s Smiths Group PLC, manufactures and sells medical devices that include drug-infusion pumps and consumables to hospitals and surgical centers. The company had outgrown the Arden Hills location and in December of 2014 announced plans to relocate to a new build-to-suit corporate headquarters in Plymouth, Minnesota.

The investment sales team from Colliers International|Minneapolis-St. Paul, along with Michael Gelfman, vice president in the office brokerage division at Colliers, represented Smiths Medical in the disposition of the former headquarters.