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Six-Building MedExpress Portfolio Changes Hands

PITTSBURGH, PA-The single-tenant net-leased urgent care healthcare centers in Pennsylvania and West Virginia traded for $12 million, or $309 per square foot, according to Marcus & Millichap Real Estate Investment Services, GlobeSt.com has learned.

By Antoinette Martin | Updated on June 13, 2012

PITTSBURGH, PA-Six single-tenant MedExpress Urgent Care health centers with 10-year leases in Pennsylvania, and another in West Virginia, were sold in a portfolio to National Retail Properties for $12.99 million, or $309 per square foot. Marcus & Millichap Real Estate Investment Services represented both the seller and buyer.

“The portfolio generated a lot of attention and interest from private and institutional investors,” says Paul Fedorko, an associate in M & M’s Pittsburgh office, who handled the transaction. “The strength of the medical office and single-tenant property sectors, combined with MedExpress’s unique and attractive business model, make these assets an especially attractive choice for long-term stabilized investment.”

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