Michael Bennett of Newmark Grubb Knight Frank acted as exclusive advisor on the sale of the MHO Oncology Center, located in Northwest Indiana. The Property was 100% occupied by Michiana Hematology Oncology and operates in partnership with IU Health LaPorte Hospital. The 20 Year NNN Lease had 17 years remaining at the time of sale. NGKF marketed the property to a large pool of qualified investors and closed with an REIT on an all-cash basis.
Sale Date: June 14, 2013
Sale Price: $13,100,000
Price Per SF: $432
Building Size: 30,268 SF
Working from the Chicago office of NGKF, Michael Bennett and his team have a 2012-2013 pipeline of $500 million in healthcare real estate transactions. They continue to “make the market” for properties through their institutional and private client relationships and willingness to push CAP rate values. With 10+ years of experience and over 250 closed transactions, they bring a creative, solutions-oriented approach to real estate.
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