CBRE recently facilitated the sale of a medical outpatient building (MOB) in Springfield, MA. The 61,321-square-foot facility is owned by New England Orthopedic Surgeons and located at 300 Birnie Ave. The buyer was Remedy Medical Properties, based in Chicago and partnering with Kayne Anderson Real Estate.
While CBRE did not disclose the exact price of the sale, reports indicate it was for $27.3 million.
The team from CBRE U.S. Healthcare Capital Markets – including Chris Bodnar, Brannan Knott, Zack Holderman,Cole Reethof,Trent Jemmett,and Jesse Greshin – worked alongside Chris Scott from Lincoln Property Company to represent the seller as exclusive advisors.
According to Knott: “This property is fully leased to a leading orthopedic surgical practice which made it an attractive investment for our client.” He also noted that Remedy Medical Properties specifically sought out a high-volume medical building with reputable tenants like New England Orthopedic Surgeons’ facility. Additionally,the long-term triple-net leaseback structure offers stable growth over time due to annual increases and protection against operating expense exposure.
