Physical Real Estate Capital Advisors LLC, PRECAP,  said the Advocate Aurora Health Medical Building located at 1020 35th Street in Kenosha, Wisconsin has sold for $6.2 million.

PRECAP Managing Principal Scott Niedergang and Nathan Glaisner of Verde Investments, LLC represented both the seller, a physician partnership that developed the facility for their private practice prior to its acquisition by Aurora Medical Group, Inc., and buyer, a commercial real estate investment company focused on net leased retail, logistics and medical facilities nationwide.

The 19,678 square-foot two-tenant facility is 100% occupied by Aurora Medical Group, Inc., a subsidiary of Advocate Aurora Health, and MH Imaging, a multi-location provider in the market. Prior to pursuing a sale, the seller had negotiated a new 10-year lease extension with American Medical Group, which occupies 84% of the building.  

“As is common in today’s market, the seller had been solicited by multiple buyers and brokers prior to our firm’s engagement,” said Niedergang. “The structured and competitive marketing process we introduced to the transaction resulted in a sale price roughly 12% higher than offers submitted by buyers before our involvement.”