JLL Capital Markets announced today that it has closed the sale of a four-property, Class-A medical office portfolio totaling 111,827 square feet in Milwaukee and Green Bay, Wisconsin.
JLL marketed the properties on behalf of the seller, Stage Equity Partners, a leading private owner of medical office buildings, headquartered in Chicago. The portfolio was acquired by Big Sky Medical via a competitive process that yielded extremely strong interest from a range of institutional investors.
The portfolio is 98% leased overall, with 85% of the tenancy with market-leading, investment grade-rated hospitals, including Children’s Wisconsin, Hospital Sisters Health System, Ascension and Advocate Aurora Health Care. The medical office portfolio consists of:
4655 N. Port Washington Rd., Glendale
8375 South Howell Ave., Oak Creek
8800 Washington Ave., Mt. Pleasant
1727 Shawano Ave., Green Bay
Three of the four properties are in suburban Milwaukee, the largest city in Wisconsin and ranking as the 39th largest MSA in the country. Milwaukee is convenient to Chicago and boasts massive public and private investment in infrastructure, a vibrant and economically diverse employment base and a rich historical culture.
The JLL Healthcare Capital Markets team representing the seller was led by Senior Managing Directors Evan Kovac and Mindy Berman, Managing Director Tim Joyce, Director Matt DiCesare and Vice President Trent Jemmett. Local support was provided by Senior Managing Director Jamie Fink.