Physician Real Estate Capital Advisors closed the $6.2 million sale of the Advocate Aurora Health Medical Building at 1020 35th St. in Kenosha, Wisconsin.
PRECAP Managing Principal Scott Niedergang and Nathan Glaisner of Verde Investments, LLC represented both the seller, a physician partnership that developed the facility for their private practice prior to its acquisition by Aurora Medical Group, Inc., and buyer, a commercial real estate investment company focused on net leased retail, logistics and medical facilities nationwide.
The 19,678 square-foot two-tenant facility is 100% occupied by Aurora Medical Group, Inc., a subsidiary of Advocate Aurora Health and MH Imaging, a multi-location provider in the market. Prior to pursuing a sale, the seller had negotiated a new 10-year lease extension with AMG, which occupies 84% of the building.
In the last seven years, Niedergang has advised on the disposition of nine Advocate Aurora Health anchored medical office buildings totaling more than 200,000 square feet.
