Everest Medical Core Nabs K.C.-Area Medical Building
- Dec 06, 2016
Overland Park, Kan.—WestEv Acquisitions LLC recently announced the purchase of Foxhill Medical Center, a 52,153-square-foot medical office building in the Kansas City metro area. The building features medical and dental suites with superior amenities and was sold for $9 million. At the time of purchase, the property was 97 percent occupied.
Located at 4601 West 109th St., Foxhill Medical Center provides easy access from I-435, the major arterial beltway in metropolitan Kansas City. The region sees a traffic of more than 140,000 vehicles per day. Situated within a prime medical corridor, the medical office is in close proximity to several major hospitals and surgical centers. Built in 1973, the property was renovated in 1998, and major exterior enhancements were completed in 2016. According to Yardi Matrix data, Foxhill Medical Center is a three-story building with 250 parking spaces.
“We are pleased to have developed a deep pipeline of off-market and limited-market, high-quality medical office buildings. Foxhill Medical Center is a great addition to our growing portfolio of institutional-quality medical commercial properties,” said David Lynn, CEO of Everest Medical Core Properties, in a prepared statement.
Home to over 3,800 local and national businesses, Overland Park’s corporate development is bolstered by its consistent population growth over the last decade, establishing this Kansas City suburb as a desirable destination to both live and work. This submarket is also attractive due to its two percent vacancy and strong absorption.
Image courtesy of Yardi Matrix