CBRE Assists Seller in Divesting $142M VA Facility

CBRE Assists Seller in Divesting $142M VA Facility

CBRE facilitated the sale of a 272,636-square-foot outpatient clinic in Austin, Texas for $142 million. The facility is operated by the U.S. Department of Veterans Affairs and was represented by CBRE’s Will Pike who led a team on behalf of seller Health Care Property Advisors. The buyer remains undisclosed.

The two-story property is fully leased to VA and was originally constructed in 2013 as the largest freestanding medical clinic serving veterans in the country at that time; offering physical therapy, mental health counseling, neurology services and more to attract over 300,000 patients annually.

“Austin’s healthcare demand drivers promote long-term viability for this build-to suit facility for VA while adding appeal as a stable investment property amid turbulent capital markets,” said Mr Pike about this transaction which provides an opportunity to capitalize on strong fundamentals within an attractive market like Austin..

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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