Medical Investment Sales Show Strength in Clinton

Medical investment sales indicate a strong medical presence and growth in Prince George’s County

Two recent medical investment sales indicate that the medical office market in Clinton, MD is strong. Michael Isen and Michael DiMeglio of NAI Michael exclusively handled the disposition of two medical investment sales in Clinton within the past 18 months.

The first investment sale was of the Southern Professional Medical Building at 9131 Piscataway Road. The building sold for an impressive $9 million ($148 per square foot) in September 2014. At the time of sale, the 61,000± square foot building was occupied by 25 medical tenants.

Following that sale, NAI Michael handled the investment sale of a 7-building medical portfolio in Clinton, MD. Heritage Medical Park, located at 8926 Woodyard Road, was 100% occupied by five tenants and sold for $7,280,000 ($208 per square foot). The medical park totals 35,000± square feet.

• Both of these medical sales are records in the market.

Another boost to the Clinton medical market is the MedStar Southern Maryland Hospital Center. In 2012, MedStar Health purchased the Southern Maryland Hospital in Clinton, with plans to invest at least $100 million back into the hospital for upgrades. Those plans are well underway. In addition to MedStar, there has been more medical activity occurring in the Branch Avenue submarket, the “gateway” to southern Maryland.

Michael Isen and Michael DiMeglio of NAI Michael understand what it takes to purchase or lease medical space. Medical is a high barrier to entry market due to the costs for medical space build-outs. They’ve successfully and effectively worked with doctors and other medical professionals to secure the best lease rates and terms. Contact Michael Isen and Michael DiMeglio at (301) 459-4400 today if you are interested in learning more about leasing new space or renewing your current lease.