Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Cushman & Wakefield Arranges $31M Sale of WI Healthcare Facility
Cushman & Wakefield represented Minneapolis-based Sentinel Management Company in its $30.8 million sale of Aurora Health Center Germantown to Nashville-based Montecito Medical.
Cushman & Wakefield’s Gino Lollio, Travis Ives, Sushil Puria, and Tyler Morss, in conjunction with Mike Keane of The Boerke Company, an affiliate of the firm, represented ownership. Aurora Health Center Germantown is a two-building, medical-office property totaling 92,573 square feet located at N112 W17975 Mequon Road and W180 N11070 River Lane in Germantown, Wisconsin, near Milwaukee.
The property’s North Building totals 15,998 square feet on 4.25 acres. In 2016, Aurora converted the 76,585-square-foot South Building from administrative space into a health center. Both properties are fully occupied by Aurora Health Care Inc., a subsidiary of Advocate Health, and operate under long-term, triple-net leases.
“With its attributes, including significant capital investment into the space by the tenant, as well as higher acuity of services provided at this location, the investor interest was strong and very competitive,” said Lollio.