Cushman & Wakefield’s Gino Lollio, Travis Ives, Sushil Puria, and Tyler Morss, in conjunction with Mike Keane of The Boerke Company, an Independently Owned and Operated Affiliate of Cushman & Wakefield, Represent Ownership
CHICAGO, March 6, 2024 – Cushman & Wakefield announced today that the firm represented Minneapolis-based Sentinel Management Company in its $30.8 million sale of Aurora Health Center Germantown to Nashville-based Montecito Medical.
Aurora Health Center Germantown is a two-building, medical-office property totaling 92,573 square feet and located at N112 W17975 Mequon Road and W180 N11070 River Lane in Germantown, Wisconsin, near Milwaukee. The North Building, totaling 15,998 square feet on 4.25 acres, supports uses for chiropractic care, family medicine, gastroenterology, pain management, pediatric cardiology and sports rehabilitation. In 2016, Aurora converted the 76,585-square-foot South Building from administrative space into a health center with a six operating room surgery center, 16 oncology infusion bays, and a healing garden to calm cancer patients, in addition to dozens of exam rooms in its clinics. These two Germantown locations staff a combined total of more than 100 physicians, 70 registered nurses and an additional 170 caregivers daily. Both properties are fully occupied by Aurora Health Care Inc., a subsidiary of Advocate Health, and operate under long-term, triple net leases.
“Aurora Health Center Germantown is a down-the-fairway outpatient healthcare facility with a long-term credit tenant,” said Lollio. “With its attributes, including significant capital investment into the space by the tenant, as well as higher acuity of services provided at this location, the investor interest was strong and very competitive. As the debt markets continue to thaw, we expect to see that trend continue throughout 2024 and for the foreseeable future as healthcare properties provide investors with superior returns coupled with strong performance, especially when compared to the typical core product types.”
Located approximately 17 miles from Milwaukee, Aurora Health Center Germantown has nearly 50,000 residents within a five-mile radius and average annual household income of $86,904. Access this link to download an image of Aurora Health Center Germantown.
About Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In 2022, the firm reported revenue of $10.1
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