January 10, 2019 (Syracuse, New York) – Lisa Menin of Jacobson Properties, New York, New York and Leo Jones of Cushman & Wakefield/Pyramid Brokerage Company, Binghamton, New York are pleased to announce the sale of Hill Medical Center, an 81,859 square foot medical office building located on the downtown campus of SUNY Upstate University Hospital in Syracuse, New York. Hill Medical Center was sold by Business Venture Associates Limited Partnership to a national private equity healthcare investor for a purchase price of $18.9 million.
Hill Medical Center is 98.5% leased and is anchored by SUNY Upstate University Gastroenterology, Upstate Cancer Center Hematology/Oncology at the Hill, Upstate Cancer Center at Hill Radiation Oncology and St. Joseph’s Hospital Cardiology. The balance of the space is leased by several prominent specialist physician groups.
Lisa Menin of Jacobson Properties and Leo Jones of Cushman & Wakefield/Pyramid Brokerage Company served as the exclusive advisors to the seller.
About Jacobson Properties:
Lisa Menin of Jacobson Properties specializes in the sale of healthcare real estate nationwide with a focus on the Greater Northeast. A former Wall Street attorney, Lisa exclusively represents hospitals, developers and investors in the sale of their institutional grade medical assets. She is also frequently engaged to represent buyers in nationwide property searches. Lisa has a 32 year track record of completing complex and challenging deals and has personally closed transactions totaling in excess of $570 million over the past few years. Lisa can be reached at LMenin@jacobsonproperties.net or via telephone at (212) 580-3136. More information is available at www.jacobsonproperties.net.
About Cushman & Wakefield/Pyramid Brokerage Company:
Leo Jones is a Real Estate Broker with Cushman & Wakefield/Pyramid Brokerage Company of Binghamton, Inc. Pyramid is Upstate New York’s largest and only regional commercial real estate services firm with over 100 agents in 10 offices across the state and has been a leading provider of commercial real estate services since 1971. Leo has over 30 years of experience in all facets of commercial real estate. Leo can be reached at LJones@pyramidbrokerage.com or via telephone at (607) 754 5990. More information is available at www.pyramidbrokerage.com.
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