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News Release: Medical Specialty Practices Combine Forces to Build 42,000-Square-Foot Medical Office Building

CBRE announced today that it assisted four medical specialty groups to buy acreage and build a new medical office building. Molly Leach, vice president, CBRE, assisted the group in the purchase, located at 430 Altair Parkway, Westerville, Ohio, 43082.

Ohio Gastroenterology, Central Ohio Skin & Cancer, Premier Urology and Professionals for Women’s Health were previously in a combined total of 22,000-square feet in four separate buildings. “By combining forces to build an independent medical office building, the physicians will now be able to enjoy tenancy in four suites, as well as ownership rights,” said Mrs. Leach. “Combining the four practices in one building allows them to achieve economies of scale on both construction terms and pricing.”

The property is currently under construction, with an expected completion date of June 2019. The practices have agreed to a 15-year lease term at the property. David Royer with Continental Real Estate Companies represented the seller.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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