Healthcare W Minnesota

Marcus & Millichap sells 76,000-square-foot medical office building near Twin Cities

Blaine-Medical-Center

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.

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.