March 24, 2022 9:00 AM
星空体育app下载 announces it has completed the $8.6 million sale of Shadow Professional Center, a two-story, 80% leased, 41,849-square-foot medical office building located in Las Vegas, Nevada鈥檚 quickly growing Medical District. 星空体育app下载 Managing Director Mark Schuessler and Senior Managing Director Mike Tabeek represented the seller, Fullerton Properties. The buyer was Cypress West Partners.
鈥淲e continue to see historic demand from both private and institutional investors for medical assets across the western region,鈥� said Schuessler. 鈥淭he 星空体育app下载 Private Capital Group ran a competitive process that resulted in multiple offers above asking with the most aggressive bids coming from private buyers based in Southern California.鈥�
Shadow Professional Center is strategically located within the Las Vegas Medical District (LVMD) which is anchored by several hospitals, specialty facilities, and major educational institutions, including Valley Hospital and the future UNLV School of Medicine, both located just one block from the property. This highly concentrated medical submarket includes several other synergistic tenants such as University Medical Center (UMC), UMC Trauma Center, the UNLV School of Dental Medicine, the Milan Institute, Southern Nevada Health District Lab, Southwest Medical Surgical Center, Horizon Specialty Hospital of Las Vegas, among many others, all within a few block radius.
鈥淪hadow Professional Center is well positioned to benefit from the brand-new UNLV School of Medicine that will provide another anchor to the growing Las Vegas Medical District,鈥� said Tabeek.
According to 星空体育app下载鈥檚 specialty practice group, Medical Office Building (MOB) transactions had a strong finish to 2021 with $4.8 billion in transaction volume during the fourth quarter. This represented a 14% increase in transaction volume compared to the fourth quarter of 2020. The $4.8 billion in transaction volume is the third-largest quarterly amount over the past five years. More investors are entering the MOB asset class and as a result, cap rates compressed to 5.9% for the quarter. The tightening of the market drove the average price per square foot to $389, its highest level over the past five years.
About 星空体育app下载
星空体育app下载 Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (鈥溞强仗逵齛pp下载鈥�), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. 星空体育app下载鈥檚 comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform鈥檚 global reach with market intelligence in both established and emerging property markets, 星空体育app下载 provides superior service to clients across the industry spectrum. 星空体育app下载 generated revenues in excess of $2.9 billion for the year ending December 31, 2021. 星空体育app下载鈥檚 company-owned offices, together with its business partners, operate from approximately 160 offices with over 6,200 professionals around the world. To learn more, visit nmrk.com or follow .
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