FOR IMMEDIATE RELEASE
A 22,721 square-foot medical office building within high traffic retail shopping center
MedCraft Investment Partners has acquired a 22,721-square-foot medical office building at 1390 University Ave. W. in St. Paul, Minn., occupied by MHealth Fairview’s Midway Clinic.
Minneapolis, Minn. – November 23, 2021 – MedCraft Investment Partners, a dedicated investment platform focused exclusively on healthcare real estate, acquired the fully leased medical office building further expanding their Minneapolis-St. Paul portfolio. The building located at 1390 University Ave West, St. Paul, Minnesota is occupied by MHealth Fairview’s Midway Clinic, which offers primary and specialty care services to the community.
“The building was a former bookstore and back in 2012, Fairview Health was ahead of the trend of converting retail buildings to healthcare to bring much needed services to the heart of the community,” said Jon Lewin, Principal, MedCraft Investment Partners.
Located directly off Interstate 94 and walking distance to the Green Line Light Rail that connects Minneapolis and St. Paul, this is a busy and growing area to live, shop, work and entertain. It is also adjacent to the new Allianz Field, home to the Minnesota United FC of Major League Soccer. The area is anticipating strong residential and service growth with continued development and reuse of existing properties. The population 55 years and older is expected to grow to 25% by 2025 and is a desirable demographic shift for the healthcare industry.
The $8.6 million transaction closed on October 29, 2021.
About MedCraft Investment Partners, LLC
MedCraft Investment Partners (MIP) is a unique investment platform built on integrity and decades of proven healthcare real estate expertise with customized client-driven solutions in developing, acquiring and managing health care facilities. We help identify, plan, and structure partnerships that result in greater economic value – while guiding against missteps that are commonly encountered along the way. For more information, please visit www.MedCraftIP.com.
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Interviews with leaders from MedCraft are available. To schedule, please contact jludvigsen@medcraft.com.
Media contact:
Jolene Ludvigsen
jludvigsen@medcraft.com
952.838.7126
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