November 17, 2020
Marcus & Millichap arranged the sale of 3501 MedCenter, a 145,096-square-foot multi-tenant medical office property in Amarillo. The property was originally constructed as a retail mall in 1986 and was renovated for medical use in 1995.
“We marketed this asset to a deep buyer pool and generated multiple offers, in spite of the truly unprecedented market conditions created by COVID-19 and the turbulent election season,” said Alex Vidal, a healthcare real estate investment specialist in Marcus & Millichap’s San Francisco office.
Vidal marketed the property on behalf of the seller, an Amarillo-based private partnership led by Geoffrey Wright, M.D. and Joe Bob McCartt of McCartt Commercial Real Estate Services. Vidal also sourced the buyer, Equity Velocity Fund, which provided its own representation. Tim Speck, SVP and division manager, is Marcus & Millichap’s broker of record in Texas.
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