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GOOD MEDICINE

GOOD MEDICINE
GOOD MEDICINE
This looks more like a gingerbread house than a medical building, but maybe we're just in the holiday spirit. Kimco sold Orchard Square to Corinthian Realty in a deal brokered by Cassidy Turley's Jon Carpenter and Jay Wellschlage r. The duo has closed $50M worth of deals this year (another $115M are under contract). The 28K SF medical building went for $2.7M with $350k dedicated to renovations.
GOOD MEDICINE
Jon says that while investors prefer core properties to value-add opportunities, he expects to see growth in submarkets with improving fundamentals in markets like Ft. Meade. The B-W corridor is also one of the strongest industrial sales markets in the nation, he tells us, with some properties receiving up to 20 bids, all from institutional core buyers.
GOOD MEDICINE
If Jon from Cassidy wasn't convincing enough, CBRE's Bo Cashman and Jonathan Beard brokered the sale of a 99K SF industrial-flex complex to ING Clarion for $12.3M today. The two Hanover buildings (7449 and 7455 Race Rd) are 78% leased with great access to major transportation arteries. No wonder Bo says the investment market has come to life.