Marcus & Millichap Inc.
11/04/2024 | Press release | Distributed by Public on 11/04/2024 13:47
Marcus & Millichap Arranges Sale of St. Louis Heart and Vascular Building in Bridgeton
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Marcus & Millichap Arranges Sale of St. Louis Heart and Vascular Building in Bridgeton
November 04, 2024
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BRIDGETON, Mo., Nov. 4, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 22,097-square-foot, single-tenant medical office in Bridgeton, Missouri. The property sold for $8,837,768.
"This listing generated significant interest from both local buyers in St. Louis and prospective buyers across the country," said Alec Coronado, associate. "Ultimately, it sold to one of the largest firms in the United States specializing exclusively in medical office real estate. We couldn't be more pleased with the outcome."
Coronado, investment specialist in Marcus & Millichap's St. Louis office, had the exclusive listing to market the property on behalf of the seller, an out of state developer, and procured the buyer, Montecito Medical.
Located at 3550 McKelvey Road, the 22,097-square-foot medical office is occupied by St. Louis Heart and Vascular, the largest independent, full-service cardiology and vascular care practice in Missouri, with more than 17 years remaining on their triple-net lease. Built in 1974, the building sits on 1.55 acres near DePaul Hospital and St. Louis Lambert International Airport.
"This listing generated significant interest from both local buyers in St. Louis and prospective buyers across the country," said Alec Coronado, associate. "Ultimately, it sold to one of the largest firms in the United States specializing exclusively in medical office real estate. We couldn't be more pleased with the outcome."
Coronado, investment specialist in Marcus & Millichap's St. Louis office, had the exclusive listing to market the property on behalf of the seller, an out of state developer, and procured the buyer, Montecito Medical.
Located at 3550 McKelvey Road, the 22,097-square-foot medical office is occupied by St. Louis Heart and Vascular, the largest independent, full-service cardiology and vascular care practice in Missouri, with more than 17 years remaining on their triple-net lease. Built in 1974, the building sits on 1.55 acres near DePaul Hospital and St. Louis Lambert International Airport.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.