FOR IMMEDIATE RELEASE
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OKLAHOMA CITY, OK, Jan. 25, 2022 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of the Southwest Orthopedic and Reconstructive Specialists building, a multi-tenant medical office building, totaling 35,347 square-feet in Oklahoma City, Oklahoma.
“Conveniently located, this asset is just a 10-minute drive to Mercy Hospital Oklahoma City and a 15-minute drive to University of Oklahoma Medical Center and Downtown Oklahoma City,” said Joe Massa, IPA senior managing director investments. “With strong demographics, there will be no shortage of consumers utilizing the facilities’ medical resources, positioning our new buyer for consistent revenue for years to come.” Massa, Anthony Lunceford, and Michael Grenaway represented the seller and procured the buyer.
“Anchored by Southwest Orthopedic and Reconstructive Specialists, which occupies roughly 70% of the property, this property is currently 82% occupied, providing our new buyer with an attractive opportunity to fill the remaining vacancy and restructure leases to NNN in the future,” added Lunceford.
Mark McCoy is Marcus & Millichap’s broker of record in Oklahoma.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com
Contact:
Gina Relva, VP of Public Relations
Gina.Relva@marcusmillichap.com
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