CBRE Advises on Sale of Twin Cities Medical Outpatient Campus

Barchart · 10/18 15:30

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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