LOGIC Represents Buyer and Seller in $11,500,000 Medical Office Sale

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OVERVIEW

LOGIC Commercial Real Estate is proud to announce the sale of the Siena Office located at 871 Coronado Center Dr., Henderson, NV 89052. The asset is a 2-story +/- 51,573 SF medical office building that was 90% occupied upon close of escrow. The Property is located minutes from St. Rose Dominican Hospital and is in close proximity to Henderson’s premier residential communities such as McDonald Highlands, Seven Hills and Anthem. The Logic agents involved in the transaction were Marc Magliarditi, CCIM, Mica Berg and Jeff Berg. Logic will retain the leasing and property management services.

 

HIGHLIGHTS

  • The Logic office leasing team completed the stabilization process taking the property from 35% occupancy to 90% occupancy at the time of the sale
  • The Logic Investment Sales team sourced a California buyer in a 1031 exchange
  • Transaction included 3 ongoing tenant improvement projects that transferred upon close of escrow
  • 47-day escrow period
  • 75-day start to finish from Buyer initially seeing the asset
  • $11.5MM sale price, 7.00% cap rate, and $223 PSF

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