Sanford Health MOBs Trade in Bemidji

Marcus & Millichap recently closed the sale of Sanford Health Clinic Portfolio, two neighboring medical buildings consisting of 74,700-square-feet, located in Bemidji, MN. The assets sold for a combined $23,200,000 in an all-cash deal. 

Seth Haron, Ashish Vakhariya, and Darin Gross, investment specialists in Marcus & Millichap’s Detroit office, facilitated the sale and collaborated with Sykes Cargile and Rob Lyons from the Brentwood, TN office on behalf of the buyer. Jon Ruzicka, broker of record in Minnesota, assisted in closing the transaction.  

The properties were occupied by a multi-specialty health clinic guaranteed by a subsidiary of Sanford Health. They sit adjacent to the Sanford Health Bemidji Medical Center and Sanford WoodsEdge Senior Living Campus. Sanford Health, rated AA- by Fitch, is the largest rural health system in the U.S.  

“The strong tenant profile along with the immediate proximity to Sanford’s hospital were key factors in driving investor demand,” said Haron. 

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