Marcus & Millichap has closed the sale of a five-property dental office portfolio consisting of dental condominiums and a freestanding dental office building located throughout the Pioneer Valley region of Western Massachusetts. The portfolio sold for $5.95 million.
“The mix of dental condominiums and freestanding buildings made this a unique transaction, as some investors can be hesitant to pursue condominium assets,” said Kobe Gaskin, associate investments. “Ultimately, the buyers recognized the value of having an established national dental operator occupying these locations and the long-term stability that specialized medical properties can provide.”
Gaskin, Billy Skoch and Chris Mitchel, investment specialists in Marcus & Millichap’s Cleveland office, in association with Thomas Shihadeh, Marcus & Millichap’s Massachusetts broker of record, marketed the property on behalf of the seller. The portfolio was acquired by two separate buyers, one based locally and the other based in Utah.
