2 Wake Robin Street was 96 % leased on the time of sale. Picture courtesy of JLL Capital Markets
Sendero Capital and Angelo Gordon have acquired 2 Wake Robin Street, a 30,000-square-foot medical workplace constructing in Windfall, R.I. A non-public proprietor offered the asset, in keeping with CommercialEdge data. JLL Capital Markets represented the customer.
The identical supply reveals the property beforehand traded in 2019, when it was bought for $7 million from Bronchial asthma & Allergy Physicians of Rhode Island. The next yr, the asset grew to become topic to a $5.3 million mortgage offered by Financial institution Rhode Island.
The present transaction is the second buy of the three way partnership, which was introduced in early July. The partnership’s first acquisition concerned a 53,120-square-foot medical facility in Hamden, Conn.
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The 2-story, Class B constructing got here on-line in 2006 on 2.7 acres. The property has two passenger elevators, managed entry and 149 automotive parking areas. Companies offered embody pressing and first care, imaging, pediatric care, bodily remedy and pathology.
The power was 96 % leased on the time of sale, with a tenant roster that includes Lifespan Well being System, Lincoln Pressing Care, George Washington Medical Heart and Endocrine Remedy Facilities, amongst others.
The JLL crew which negotiated on behalf of the customer included Managing Director Brannan Knott, Senior Managing Director Mindy Berman and Director Anthony Sardo.
Over a 12-month interval ending in August, 12 medical workplace properties totaling 741,116 sq. toes have modified fingers within the Windfall market, in keeping with CommercialEdge knowledge.
Medical workplace asset close to North Central State Airport
The power is close to North Central State Airport and fewer than 10 miles from downtown Windfall. NRI Inner Drugs, Village Medical and Cumberland Medical Heart are among the surrounding space’s medical suppliers.
Whereas the workplace sector faces headwinds, health-care actual property remains to be in demand because of the growing older inhabitants and technological advances within the medical discipline. The worth per sq. foot for medical workplaces was $100 larger than the nationwide common registered for conventional workplace property, reaching $296 within the first half of 2023, a latest CommercialEdge report reveals.
