Cushman & Wakefield‘s Healthcare Capital Markets team has completed the $3.32 million sale of Old Courthouse Medical Center in Rochester Hills, Michigan, 20 miles north of Detroit.
Cushman & Wakefield Managing Directors Gino Lollio and Scott Niedergang, Associate Kyle Seychel and Detroit Managing Principal Garrett Keais represented owner Old Courthouse LLC in the sale to an out-of-state private investment group.
The 14,396-square-foot medical office is located at 135 Barclay Circle in Rochester Hills and fully occupied by tenants Quest Diagnostics, Ascension Criterion Hospital, Rochester Rheumatology Center, Vascular Diagnostic Center and Rochester Endocrinology and Diabetes Center. Average household income within a five-mile radius exceeds $118,000.
In 2020, the Chicago-based Healthcare Capital Markets team closed 43 transactions on 1.5 million square feet valued at more than $224 million.