Stan Johnson Facilitates Indiana MOB Sale

Rachel Walz assisted the buyer in the purchase of the single-tenant property in Kokomo.
2008 W. Boulevard St. Image courtesy of Stan Johnson Co.

Stan Johnson Co. has brokered the sale of a single-tenant, 10,000-square-foot medical office building leased to Advanced Medical Imaging in Kokomo, Ind. Advanced Nuclear Medicine LLC sold the Class B asset for roughly $2.7 million. Stan Johnson’s Rachel Walz negotiated the deal on behalf of the buyer, a Chicago-based private investor. Walz stated in prepared remarks her client considers healthcare real estate to be a safe asset class in these uncertain times.

Situated on 1.4 acres at 2008 W. Boulevard St., the single-story medical building was developed in 2003. The imaging center on-site provides diverse radiology services such as MRI/MRA, bone density scanning and ultrasound imaging, among others. According to Stan Johnson, the tenant had seven more years of  triple net lease at the time of sale.

The property is some 3 miles from downtown Kokomo in the Orleans Southwest submarket, within a dense MOB area. Kokomo Surgery Center and Community Howard Regional Health are both within a 4-mile radius.

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