Manchester, CT Dennis Someck and Justin Myers, both executive managing director/principals, and Ben Tapper, senior managing director, of Lee & Associates NYC, have arranged the sale of the 28,925 s/f medical office property at 515 Middle Tpke. West. The Lee & Associates team represented the seller, Metro Realty, who built the property in 2012.
The building was purchased for $11.3 million, by Physicians Realty Trust of Milwaukee, WI, who was represented by Davis Healthcare Real Estate of Minneapolis, MN.
515 Middle Tpke. West currently has two medical tenants, ProHealth, which is now owned by UnitedHealthcare, and St. Francis Hospital and Medical Center, a member of Trinity Health of New England.
St. Francis has a lease expiring in July 2020, at which time ProHealth will take possession of their space and occupy 100% of the building.
“The single floor layout of the property with ample on-site parking is optimal for a medical center and outpatient use,” said Tapper, who adds that “This is an ideal location for medical, seeing as there are three hospitals within a 10-mile radius.”
Myers said, “This site is only ten miles east from all of the conveniences available in the city of Hartford, and offers easy access from both I-84 and 384. The location coupled with the recent construction of the building allow 515 Middle Tpke. West to command highly competitive rents.”