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New Braunfels MOB Finds Buyer
Transwestern Real Estate Services’ San Antonio healthcare services team completed the sale of 1763 Medical Way, a single-story medical office building totaling 8,055 square feet in New Braunfels, Texas. Transwestern VP ‘Licia Shreves and associate James Murry represented the seller, APZ Investments LLC.
“The COVID-19 pandemic prompted investment interest in smaller assets from users considering owning their real estate and capitalizing on stabilized properties to provide extra cash flow,” said Shreves. “With interest rates down and pent-up demand for this asset type, owners are motivated to sell while conditions remain favorable.”
Built in 2019 and located in the rapidly growing city of New Braunfels, the Class B, multi-tenant building was 67% leased at the time of sale. Leben Holdings acquired the property and will move its new private dermatology practice into the remaining space, bringing the building to 100% occupancy.
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- ◦Sale/Acquisition