DALLAS, May 7, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Northpoint Medical Arts, a 116,875-square-foot multi-tenant medical office building in Dallas. The terms of the sale were not released.
Ron Hebert, vice president investments in Marcus & Millichap’s Dallas office, represented the seller, Q Northpoint LP. The buyer, Gregory Interests LLC, was represented and procured by Trinity Interests, a Dallas-based commercial property management firm.
“This medical office real estate investment asset serves the growing North Dallas patient base and provides the surrounding physician communities with a conveniently located medical office option,” says Hebert.
The facility is located at 12606 Greenville Ave. in Dallas at Interstate 635 and Greenville Avenue near Central Expressway within a five-mile radius of four major hospitals: Texas Health Resources’ Presbyterian Dallas, Baylor Garland, Medical City of Dallas and Baylor Dallas.
The two-story Northpoint Medical Arts building was built on approximately five acres in 1979. Tenants include Concorde Career College, Northpoint Pediatrics, Preston Village Pharmacy, ROSA of North Dallas LLC, Texas Health Recourses, University of Texas Southwest Medical Center and Vivere Health Dallas LLC.
About Marcus & Millichap (NYSE: MMI)
With nearly 1,500 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 7,600 transactions in 2014 with a value of approximately $33.1 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com
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