CBRE Capital Markets recently closed the sale of University Crossing, an 84,150 square foot single story medical office building in the Midway area of St. Paul between the University of Minnesota and the St. Paul CBD to Essjay Investment Company, LLC for $12.5 million.
Judd Welliver, Ryan Watts, Sonja Dusil, Tom Holtz and Bentley Smith of CBRE Minneapolis represented the seller in the sale.
“Demand for well-located medical office investment properties is the highest it has ever been,” said Bentley Smith, CBRE associate. “Greenfield did an excellent job positioning this asset to capitalize on that demand.”
University Crossing is in a high demand medical office market and features 9’ office ceiling heights, brick on block exterior construction and is fully sprinklered. The property is 99 percent leased primarily to medical-related tenants.