CBRE facilitated the sale of Arbor Lakes Medical Building, an 89,052-square-foot medical outpatient building (MOB) located at 12000 Elm Creek Boulevard North, Maple Grove, Minnesota on behalf of Minnesota based Olympus Ventures.
Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Jesse Greshin and Trent Jemmett of CBRE U.S. Healthcare Capital Markets partnered with Ryan Watts of CBRE’s Minneapolis team and Steve Brown of Forte Real Estate Partners to act as the exclusive advisors to the seller.
Arbor Lakes Medical Building is 97% leased and boasts a diverse and synergistic rent roll of tenants including M Health Fairview, North Memorial Health, Reproductive Medicine and Infertility Associates, Northstar Neurological Clinic, Midwest Radiology, and South Lake Pediatrics Clinic. The property offers an in-house referral system with services including imaging, oral surgery, dentistry, physical therapy, reproductive medicine/fertility care and ophthalmology all on-site.
“This is a Class ‘A’ facility providing connectivity to market-leading health systems in the dynamic Maple Grove submarket,” said Bodnar, CBRE’s Vice Chairman of the U.S. Healthcare Capital Markets practice. “The buyer will benefit from a stable roster of tenants and the opportunity to expand on an expansive 8.5 acre land parcel featuring 6.7 parking spots per 1,000 square feet.”
The property is conveniently located off the Interstate-94 and Interstate-494 interchange, providing direct connectivity to the broader patient base and 870,000 households within a 30-minute drive. Patients and staff alike benefit from Arbor Lake’s amenity rich location, located within the epicenter of Maple Grove’s upscale retail trade area with access to over 2.7 million square feet of retail.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
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