A $86 million medical office portfolio was recently sold in a transaction brokered by JLL Capital Markets. The properties are located in Phoenix, Arizona; Boynton Beach, Florida; and Elgin, Illinois. The portfolio consists of four properties, including the addresses 750 North 40th Street, 10275 Hagen Ranch Road, 10383 Hagen Ranch Road, and 750 Fletcher Drive. Medical offices continue to be in high demand, and this transaction highlights the strong interest in healthcare properties.

Summary of transaction details

• Property Type: Medical Office
• Transaction Amount: $86,000,000
• Square Footage: 181,000
• Price per Square Foot: $475

The buyers in this transaction were Peter Westmeyer from Remedy Medical Properties and Albert Rabil from Kayne Anderson Real Estate. The seller was Didier Choukroun from Flagler Healthcare Investments. JLL, represented by Liam Sorensen, Matt DiCesare, and Mindy Berman, acted as the brokers for the deal. With a robust tenant mix and long leases, the portfolio was a valuable investment opportunity.

JLL's Medical Properties Group, led by Senior Managing Director Mindy Berman, played a key role in managing this transaction. The appeal of high-margin healthcare services in strategic locations drove the interest from the buyers. This sale demonstrates the strong demand for medical properties and the value investors place on these types of assets.