When the First Hill Medical Pavilion in Seattle was put on the market in 2015, one of the brokers, Chris Bodnar of CBRE, predicted plenty of demand. He was right, as the building recently sold for a record price of $884 per square foot. Photo courtesy of NexCore Group
Heitman, NexCore JV acquires First Hill Medical Pavilion for $884 per square foot
By John B. Mugford
Leave it to healthcare real estate (HRE), which has been on a record-setting ride when it comes to facility sales in recent years, to generate the highest price per square foot (PSF) ever paid for a commercial office building in Seattle.
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