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Chicago & Midwest  + Midwest  + Healthcare  |  October 18, 2024
Jasmine Kilman
By: Jasmine Kilman

CBRE Advises on Sale of Twin Cities Medical Outpatient Campus

CBRE has arranged the sale of the WestHealth Medical Outpatient Building in Plymouth, Minnesota, to Davis, a Minneapolis-based healthcare real estate firm.

Chris Bodnar, Brannan Knott, Zack Holderman, Cole Reethof, Trent Jemmett and Jesse Greshin of CBRE’s U.S. Healthcare Capital Markets team, along with Minneapolis-based Ryan Watts, partnered with Steve Brown of Forte Real Estate Partners as the seller’s exclusive advisors.

WestHealth Outpatient Building comprises a three-building, trophy outpatient medical campus spanning 200,960 square feet. These interconnected medical outpatient buildings serve as the flagship outpatient campus for Allina Health’s 686-bed Abbott Northwestern Hospital.

Originally purpose-built by Allina Health and acquired by the current ownership in 2013 through a long-term ground lease, the building has undergone expansions to meet the increasing demand for outpatient services in a community-based setting. WestHealth Outpatient Building is currently 96% leased, with Allina Health occupying 73% of space.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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