A medical office building in Cincinnati has sold for $40 million, the region's most expensive publicly disclosed office transaction of the year, according to an Aug. 12 report from the Cincinnati Business Courier.
The building is fully occupied by the Cincinnati Eye Institute, whose parent company was acquired for $600 million by St. Louis-based EyeCare Partners in 2021.
The 113,723-square-foot building houses an outpatient surgical center and medical offices and sold for more than $351 per square foot. The building last sold in 2005 for $9.7 million.
Varde Partners, an investment firm based in Minneapolis, purchased the building from Milwaukee-based Physicians Realty Trust, a real estate investment trust.