As medical office building transactions heat up in 2024, here are seven Midwestern transactions to know:
1. A Florida-based real estate company purchased a Brownsburg, Ind.-based medical office building for $39 million. The 56,000-square-foot space is fully leased to Community Health Network Rehabilitation Hospital West — a joint venture between Indianapolis-based Community Health Network and Lifepoint Rehabilitation.
2. A building with 104,000 square feet of medical office space in Chicago sold at auction for a little over $20 million.
3. A 160,000-square-foot medical office building and ASC in Hudson, Wis., sold to Hammes Partners for $72 million. In addition to an ASC, the building also houses an orthopedic field house.
4. A Midland, Mich.-based building housing the Great Lakes Bay Surgery & Endoscopy Center sold for $9.8 million.
5. A two-building medical office portfolio in Carmel, Ind., sold with just a 25% occupancy rate. The three-story buildings total 58,158 square feet and sold for an undisclosed price to a private investor.
6. The 86,000-square-foot University Hospitals Wellness Campus medical office building in Mentor, Ohio, sold. Lake Health, part of the University Hospitals system, occupies 100% of the facility.