HFF closes $30.25 million sale of medical office building at Cancer Center in suburban Hartford, Connecticut
PHILADELPHIA, PA – January 18, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $30.25 million sale of the 72,022-square-foot Medical Arts Center at The Hartford Healthcare Cancer Institute.
HFF marketed the property exclusively on behalf of the seller, Tomasso Group, and procured the buyer, a publicly-traded medical office REIT. Tomasso Group affiliate, Tunxis Management Company, will continue to manage the property post-closing.
Medical Arts Center (the “MOB”) is located at 201 North Mountain Road, in Plainville, Connecticut, about 10 miles southeast of downtown Hartford, at the Hartford Healthcare Cancer Institute, a joint venture between the hospital and Memorial Sloan Kettering. Completed in 2014, the MOB is physically connected to, and shares a lobby with the Cancer Center, which also leases the entire first floor of the MOB. At the time of sale, the Medical Arts Center was 95 percent leased to Hartford Healthcare, Orthopedic Associates of Hartford, and Hartford Healthcare-employed physicians that offer an array of services including cancer care, a full modality imaging center, breast surgery, colorectal, vascular, podiatric surgery, urology, plastic and reconstructive surgery, neurosurgery and physical therapy. Consulting in the development of the MOB was president of Health Realty Advisors, Michael Goldenberg.
The HFF investment sales team representing the seller was led by Ben Appel, Phil Mahler, Evan Kovac, and Doug Rodio.
About Tomasso Group
The Tomasso Group is a multi-disciplined real estate development, construction management and property management firm doing business in central Connecticut since 1923. Tomasso provides a variety of services to its clients from leasing medical space, site selection, acquiring property, construction, build to suit/long-term lease to property and asset management. tomassogroup.com
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.