1952 Whitney Ave. Picture courtesy of CommercialEdge
Sendero Capital and Angelo Gordon have acquired 1952 Whitney Ave., a 53,120-square-foot medical workplace constructing in Hamden, Conn. Water Road Properties offered the Class B asset for $8.9 million, based on New Haven County data. JLL represented the customer.
That is the primary buy of the patrons’ three way partnership that was introduced at first of this month. The partnership will make investments as much as $300 million in outpatient actual property over the following two years.
Over a 12-month interval ending in July, 31 medical workplace properties totaling 302,000 sq. toes have modified arms within the Bridgeport New Haven market, based on CommercialEdge knowledge. Transactions amounted to $68.8 million.
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The property beforehand traded in 2019, when Water Road purchased the power from Fusco for $6.3 million, with the assistance of a $5.1 million mortgage offered by Bankwell Financial institution, CommercialEdge knowledge reveals.
The four-story constructing got here on-line on roughly 3 acres in 1977 and underwent beauty renovations in 2018. The power has two passenger elevators, managed entry, 162 parking areas, with one flooring of the constructing situated underground. Providers offered function inside medication, cardiology, endocrinology, dermatology, bodily remedy and podiatry.
88 % leased on the time of sale
Anchored by Hartford Healthcare and Yale New Haven Well being, the property was 88 % leased on the time of sale. The tenant roster additionally contains Dermatology Physicians of Connecticut and Inner Drugs of Larger New Haven, amongst others.
The power is lower than 5 miles from downtown New Haven, between Route 15 and Interstate 91. CrossRoad Medical Middle, Hamden Surgical procedure and Medical Middle and Larger New Haven OB/GYN are among the space’s medical suppliers.
A JLL Capital Markets crew, led by Managing Director Brannan Knott and Director Anthony Sardo, represented the customer.
