Marcus & Millichap Real Estate Investment Services has brokered the $1.8 million sale of DaVita Dialysis building, a 14,000 s/f single-tenant medical office building on 1.75-acres at 209 Highland Ave..
Laurie Ann Drinkwater, CCIM, associate director, National Retail Group at Marcus & Millichap's New Haven office, Seth Richard, associate director, National Retail Group, and Adelaide Polsinelli, associate vice president, investments at Marcus & Millichap's Manhattan office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
"This well-located asset with a strong tenant was the perfect opportunity for a long term investor or 1031 exchange buyer," said Polsinelli, who represented the purchaser, a New Jersey-based investor. "The property traded at an 8.3% capitalization rate."