Trammell Crow Sells New National Harbor Medical Office Building
A new medical office building that opened last year in National Harbor has traded hands.
Trammell Crow sold The Medical Pavilion at National Harbor to Seavest Healthcare Properties for $57M, according to a deed posted last month to Maryland property records.
A subsidiary of White Plains, New York-based Seavest Investment Group, the buyer obtained a $36M acquisition loan from Synovus Bank, property records show.
The 95K SF medical office building, developed by Trammell Crow and Meadow Partners, delivered in January 2019. The leasing is managed by Cushman & Wakefield, which said the building had 30K SF remaining available at the time of delivery.
“With the majority of Prince George's County residents currently receiving their healthcare outside of the county, The Medical Pavilion is strategically positioned to meet a pent-up demand for a high-quality patient experience within the community,” Trammell Crow Managing Director Eric Fischer said in a January 2019 release.
The building at 251 National Harbor Blvd. in Oxon Hill sits less than a half-mile from the Gaylord National Resort & Convention Center, about a mile from the MGM National Harbor and one-and-a-half miles from the Tanger Outlets.
The National Harbor development, spearheaded by Peterson Cos., also features a host of restaurants, retailers, hotels, apartments and condos. It is located just off the Beltway in Prince George's County, directly across the Woodrow Wilson Memorial Bridge from Old Town Alexandria.
The project is not the only new medical office building Trammell Crow is building in the D.C. region. The developer broke ground in August on the 169K SF Medical Pavilion at White Oak in Montgomery County. It is also a partner on the long-stalled McMillan development, a Northwest D.C. mixed-use project that would include a medical office building.