NEWMARK
HEALTHCARE CAPITAL MARKETS
JUST CLOSED
62,565 SF
FOREST MEDICAL BUILDING
900 FOREST AVENUE | RICHMOND, VA
CLASS-A, HOSPITAL-ANCHORED, PURPOSE-BUILT MOB IN RICHMOND’S CORE MEDICAL SUBMARKET
NOVEMBER 2024
Newmark Healthcare Capital Markets announces the sale of the Forest Medical Building, a 62,565 SF MOB located in Reynolds Crossing, the newest and highest-class mixed-use development in Richmond, which anchors Richmond’s premier West End Medical District, home to Bon Secours Mercy Health (391 Beds), HCA Henrico Doctors’ Hospital (340 beds) and 2.7M square feet of high-performing medical space. The institutional-quality, lease-to-core, MOB offers a highly sought-after combination of characteristics and investment fundamentals.
The asset was designed and constructed as a build to suit for the existing tenancy with institutional-quality specifications and finishes. The property is leased by Bon Secours Mercy Health (S&P A+), and two dominant regional, and nationally-ranked physician networks, Virginia Urology and Virginia Physicians, with over 8 years of WALT and attractive fixed annual rent escalators.
FOR ADDITIONAL INFORMATION ON THIS TRANSACTION + THE CURRENT CAPITAL MARKETS ENVIRONMENT, PLEASE CONTACT ANY MEMBER OF THE TRANSACTION ADVISORY TEAM.
HEALTHCARE CAPITAL MARKETS & INVESTMENT BANKING TEAM
Will Bradley
Executive Managing Director
410.299.0367
will.bradley@nmrk.com
Ben Appel
Executive Managing Director
215.872.9903
ben.appel@nmrk.com
Jay Miele
Executive Managing Director
732.778.3895
jay.miele@nmrk.com
John Nero
Senior Managing Director
610.308.8192
john.nero@nmrk.com
Mark Williford
Executive Managing Director
720.454.0319
mark.williford@nmrk.com
Michael Greeley
Senior Managing Director
617.223.1623
michael.greeley@nmrk.com
Ron Ott
Associate Director
570.417.8140
ron.ott@nmrk.com
HEALTHCARE CAPITAL MARKETS ANALYTICS
Conor Hilton
Associate
212.372.0746
conor.hilton@nmrk.com
Chad Prescher
Associate Director
949702.4409
chad.prescher@nmrk.com
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