CBRE recently facilitated the sale of the WestHealth Medical Outpatient Building, located in Plymouth, Minnesota. The buyer was Davis, a reputable healthcare real estate firm based in Minneapolis.
The transaction was led by CBRE’s U.S. Healthcare Capital Markets team members Chris Bodnar, Brannan Knott, Zack Holderman, Cole Reethof,Trent Jemmett and Jesse Greshin. They were joined by Ryan Watts from Minneapolis-based Forte Real Estate Partners who acted as exclusive advisors for the seller.
The WestHealth Outpatient Building is a premier medical campus consisting of three interconnected buildings spanning over 200,960 square feet. It serves as Allina Health’s flagship outpatient campus and is strategically located near their 686-bed Abbott Northwestern Hospital.
Originally built by Allina Health and acquired through a long-term ground lease in 2013 by its current owner,the building has since undergone expansions to meet growing demand for community-based outpatient services.The property currently boasts an impressive occupancy rate of 96%, with Allina Health occupying approximately 73% of the space.
This successful sale marks another milestone for CBRE’s expertise in advising on high-value transactions within the Twin Cities’ medical real estate market.
