May 11, 2020
Institutional Property Advisors (IPA), a division of Marcus & Millichap, arranged the sale of Dumfries Health Center, a 99,718-square-foot medical office building in Dumfries, VA. The single-tenant building is leased to Spectrum Healthcare Resources on a long-term basis and sold for $19.25 million.
“Medical office continues to be a highly sought-after asset class; however, with ever-changing trends in the healthcare sector, government-backed, third-party operators are becoming a new trend and add a further layer of security for investors,” said Randall Heilig, IPA VP investments.
Heilig, Robert Filley, Chandler Pace and Chris Dale represented the seller, 3700 Fettler Park LLC, and procured the buyer, Bethesda, MD-based Global Medical REIT.
Dumfries Health Center is a family clinic of Fort Belvoir Community Hospital and is one of the largest privately run MOBs in the region. The clinic serves approximately 28,000 registered military personnel and their families.
For comments, questions or concerns, please contact Paul Bubny