CRE Midwest

Marcus & Millichap arranges the sale of a 60,476 SF on-campus medical office building

mmOffice

Marcus & Millichap has sold Fridley Medical Center, a 60,476 square-foot on-campus medical office property located in Fridley. The asset sold for $19,845,000.

Marcus & Millichap has sold Fridley Medical Center, a 60,476 square-foot on-campus medical office property located in Fridley. The asset sold for $19,845,000.

Scott Niedergang and Gino Lollio, members of Marcus & Millichap’s Healthcare Real Estate Group located in the Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a partnership between a local physician group and developer. The buyer, a Healthcare Real Estate Investment Trust, was also secured and represented by Scott Niedergang and Gino Lollio.

Fridley Medical Center is connected, via a walkway, to the Allina Health owned Unity Hospital. The building is anchored by Multicare Associates, a provider owned and operated clinic with multiple locations in the Minneapolis market. Additional tenants occupying the facility include Fridley Medical Pharmacy, Virginia Piper Cancer Institute, Minnesota Oncology, MAPS Medical Pain Clinic and NovaCare Physical Therapy.