Davis Acquires Lakeview Clinic's Four-Building Medical Portfolio For $31.3 Million In Minnesota

The transaction involves a medical office asset located at four addresses: 424 State Highway 5p, 406 Faxon Road, 313 Territorial Street East, and 110105 Pioneer Trail, situated within the Waconia, Norwood Young America, Watertown, and Chaska areas of Minnesota. The total sale price was $31,300,000, and the asset encompasses a total area of 114,346 square feet, translating to a price per square foot of $274.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $31,300,000
• Square Footage: 114,346
• Price per Square Foot: $274
• Buyer: Davis
• Seller: Lakeview Clinic
• Market: Waconia, Norwood Young America, Watertown & Chaska, MN

Davis acquired the four-building outpatient medical portfolio from Lakeview Clinic, which allows Lakeview to monetize its real estate while continuing to occupy the properties through extended leases. This strategic sale-leaseback expands Davis's healthcare portfolio, anchored by a strong regional provider.