CBRE | The Boulos Company completed the sale of 107 First Park Dr., a 20,000 s/f medical office building in FirstPark. The building is leased in its entirety to MaineGeneral Medical Center. The sale was part of a marketing effort to sell two properties leased to the Medical Center on a long-term basis, with the other property being a 51,000 s/f medical office building located off Civic Center Dr. in Augusta.
The 20,000 s/f building sold for $4.3 million, completing the two-building sale to an institutional, private investment group. The sale price for these combined properties was $19 million.
The sale of both of these properties endorses the fact that institutional investors are interested in purchasing class A properties in tertiary markets such as Augusta, according to Dan Greenstein and Chris Paszyc, CCIM, both of CBRE | The Boulos Company which represented the selling entity.
The buyer, MMAC Acquisition Corp, a Florida corporation, was represented by Eric Tompkins, CCIM of CBRE | Healthcare Services Group and Andy Kushner, CCIM of RE/Max Commercial.