CBRE facilitated the sale of Arbor Lakes Medical Building, an 89,052-square-foot medical outpatient building at 12000 Elm Creek Blvd. North in Maple Grove, Minnesota, on behalf of Minnesota based Olympus Ventures.
Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Jesse Greshin and Trent Jemmett of CBRE U.S. Healthcare Capital Markets partnered with Ryan Watts of CBRE’s Minneapolis team and Steve Brown of Forte Real Estate Partners to act as the exclusive advisors to the seller.
Arbor Lakes Medical Building is 97% leased and boasts a diverse and synergistic rent roll of
tenants including M Health Fairview, North Memorial Health, Reproductive Medicine and Infertility Associates, Northstar Neurological Clinic, Midwest Radiology, and South Lake Pediatrics Clinic. The property offers an in-house referral system with services including imaging, oral surgery, dentistry, physical therapy, reproductive medicine/fertility
care and ophthalmology all on-site.
“This is a Class ‘A’ facility providing connectivity to market-leading health systems in the dynamic Maple Grove submarket,” said Bodnar, CBRE’s Vice Chairman of the U.S. Healthcare Capital Markets practice. “The buyer will benefit from a stable roster of tenants and the opportunity to expand on an expansive 8.5 acre land parcel featuring 6.7 parking spots per 1,000 square feet.”
The property is conveniently located off the Interstate-94 and Interstate-494 interchange, providing direct connectivity to the broader patient base and 870,000 households within a 30-minute drive. Patients and staff alike benefit from Arbor Lake’s amenity rich location, located within the epicenter of Maple Grove’s upscale retail trade area with access to over 2.7 million square feet of retail.
