HFF Arranges Sale of 28 KSF MOB
- Aug 06, 2018
HFF’s investment advisory team has brokered the $5.5 million sale of 440 New Britain Avenue, a 27,685-square-foot medical office building in Plainville, Conn. The brokers worked on behalf of the seller, Tomasso Brothers Inc., and also procured the buyer, Atkins Cos.
Hartford Healthcare and the Central Connecticut Endoscopy’s surgery center are currently anchoring the single-story property, which provides easy access to Interstate 84, Yankee Expressway, Woodford Avenue and Crooked Street. Medical Arts Building and Cancer Center—which operates in joint venture with Memorial Sloan Kettering—are both nearby.
“It’s the strength and quality of the Hartford Healthcare system and its leadership, coupled with the right ambulatory strategy, that has so strongly reinforced its position in the central Connecticut market,” said Senior Director Ben Appel, in a prepared statement. Appel, Managing Director Evan Kovac, Senior Managing Director James Koury, along with directors Andrew Milne and Anthony Frogameni, were part of the team that facilitated the transaction.
The deal shadows Physician Realty Trust’s recent $30 million acquisition of the adjacent Medical Arts Building. In another deal this year, HFF brokered the sale of Pin Oak Park, a medical and office campus in Bellaire, Texas.
Image via Google Street View