HSA Commercial acquires Wauwatosa medical office building for $4.75 million
Chicago-based HSA Commercial Real Estate expanded its holdings in Wauwatosa by acquiring a medical office building near its massive mixed-use redevelopment district. HSA PrimeCare, the national healthcare real estate division of …
based in Chicago HSA commercial real estate has expanded its holdings in Wauwatosa by acquiring a medical office building near its huge mixed-use redevelopment area.
HSA PrimeCare, HSA Commercial’s national healthcare real estate division, said it recently acquired the 16,513-square-foot building at 3040 N. 117th St.. “With this acquisition, we are strategically expanding HSA PrimeCare’s portfolio with top-class medical office buildings in visible, highly frequented locations,” said Jon Boley, Senior Vice President of Acquisitions and Development for HSA Commercial Real Estate and HSA PrimeCare in a statement. “We look forward to delivering the high quality property management our company is known for as these services are increasingly important to both healthcare providers and the patients they care for.” The building is 95% rented and has one available Area of around 825 square meters. Tenants include Ascension Medical Group and Children’s Medical Group, which is owned by Children’s Wisconsin. Ascension uses the site to offer a range of health services for women. Both tenants stay in the building. They have been there since the building opened in 2007, according to HSA Commercial. The building is located next to the I-41 interchange on Burleigh Street, just one exit north of the Milwaukee Regional Medical Center. It’s also across the road from HSA Commercial’s The Mayfair collection. The 69-acre development site has more than 400,000 square feet of retail space anchored by Whole Foods Market and Nordstrom Rack Stores, a 146-room, 269-apartment Hilton Homewood Suites hotel. Tom Shepherd and Adam Connor von Colliers | Wisconsin represented the seller in the transaction, Burleigh MOB Joint Venture LLC, headquartered in Lincoln, Nebraska. HSA PrimeCare has developed, rented and managed more than 2 million square feet of medical office buildings in the Midwest. This includes several properties in the Milwaukee area. PrimeCare’s customer list includes major healthcare systems such as Advocate Aurora Health, Franciscan Health, Froedtert and the Medical College of Wisconsin and more, as well as many large independent medical practices.