Net Leased Marietta Memorial Hospital Medical Office Building Sold

– The Boulder Group has completed the sale of a single tenant Marietta Memorial Hospital medical office building located at 20 University Estates Blvd in Athens, OH for $5,400,000. The Boulder Group’s Zach Wright and Brandon Wright represented the seller and purchaser in the transaction. The seller was a Midwest-based real estate investment firm and the purchaser was a West Coast-based healthcare real estate investment company.

The 13,602 square foot Marietta Memorial Hospital property is an orthopedic surgery center and orthopedic doctor’s office. The property is strategically located two miles west of Ohio University, which has over 21,000 students. The building was constructed in 2015.

Marietta Memorial Hospital recently signed a new long-term lease extension demonstrating their commitment to the property. The tenant has successfully operated at the property for approximately ten years. Marietta Area Health Care is a leading regional health care system with over 3,500 employees and was founded in 1921.

“Single tenant surgery centers with long-term net leases and annual rental increases are highly sought after amongst institutional and private investors alike. The demand for the product type is evidenced by the numerous offers that we were able to generate,” stated Zach Wright, Vice President.

“Single tenant properties with proven successful operating histories and new lease extensions, such as the Marietta Memorial Hospital, are particularly attractive to net lease investors,” said Brandon Wright, Associate.

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