Medical Arts Center at The Hartford Healthcare Cancer Institute - Plainville, CTPlainville, CT Holliday Fenoglio Fowler, L.P. (HFF) has closed the $30.25 million sale of the 72,022 s/f Medical Arts Center at The Hartford Healthcare Cancer Institute.
HFF marketed the property exclusively on behalf of the seller, Tomasso Group, and procured the buyer, a publicly-traded medical office REIT. Tomasso Group affiliate, Tunxis Management Company, will continue to manage the property post-closing.
Medical Arts Center (the MOB) is located at 201 North Mountain Rd., about 10 miles southeast of downtown Hartford, at the Hartford Healthcare Cancer Institute, a joint venture between the hospital and Memorial Sloan Kettering. Completed in 2014, the MOB is physically connected to, and shares a lobby with the Cancer Center, which also leases the entire first floor of the MOB. At the time of sale, the Medical Arts Center was 95% leased to Hartford Healthcare, Orthopedic Associates of Hartford, and Hartford Healthcare-employed physicians that offer an array of services including cancer care, a full modality imaging center, breast surgery, colorectal, vascular, podiatric surgery, urology, plastic and reconstructive surgery, neurosurgery and physical therapy. Consulting in the development of the MOB was president of Health Realty Advisors, Michael Goldenberg.
The HFF investment sales team representing the seller was led by Ben Appel, Phil Mahler, Evan Kovac, and Doug Rodio.