HSA PrimeCare Announces Acquisition of 16,513-Square-Foot Medical Office Building in Wauwatosa, Wis.October 1, 2021
HSA PrimeCare, the national healthcare real estate division of Chicago-based HSA Commercial Real Estate, today announced the acquisition of a 16,513-square-foot medical office building located at 3040 N. 117th St., in Wauwatosa, Wis.
“With this acquisition, we continue to strategically grow HSA PrimeCare’s portfolio with high-profile medical office buildings in visible, high-traffic locations,” said Jon Boley, senior vice president of acquisitions and development for HSA Commercial Real Estate and HSA PrimeCare. “We look forward to delivering the quality property management that our firm is known for, as those services take on increased importance to both healthcare providers and the patients they serve.”
The building is currently 95% leased with approximately 825 square feet of leasable space. Tenants include Ascension Medical Group, which uses the location to provide a range of women’s health services, and Children’s Medical Group, which is owned by Children’s Wisconsin, one of the nation’s top children’s hospitals. Both tenants will remain in the location, where they have operated since the building opened in 2007.
3040 N. 117th St. is adjacent to the Interstate 41 / U.S. Route 45 interchange at Burleigh Street, just one exit north of the Milwaukee Regional Medical Center, and just 10 minutes from the main campus of Children’s Wisconsin. Planned improvements to the building include additional landscaping.
Staff and visitors to 3040 N. 117th St. have convenient access to nearby retail and restaurant offerings, including those at The Mayfair Collection, just northeast of the property. Developed and owned by HSA Commercial Real Estate, the 69-acre mixed-use development features more than 400,000 square feet of retail anchored by Whole Foods Market and Nordstrom Rack, a 146-room Hilton Homewood Suites and 269 luxury apartments.
Tom Shepherd and Adam Connor of Colliers | Wisconsin Investment Services Team represented the sellers in the transaction.
In total, HSA PrimeCare has developed, leased and managed over 2 million square feet of medical office buildings across the Midwest, including several properties in the Milwaukee area. PrimeCare’s client roster includes healthcare industry giants as Advocate Health Care, Franciscan Health, Froedtert & the Medical College of Wisconsin, Loyola Medicine, UChicago Medicine, Rush, Saint Joseph Mercy Health System, Silver Cross Hospital, as well as many large independent physician practices.
About HSA PrimeCare:
HSA PrimeCare partners with some of the best health care institutions in the nation to create development, project management, leasing, monetization, and property management real estate solutions that address the needs of today’s patients while satisfying the financial goals of the health system. A leading developer and manager of medical office buildings in the Midwest, HSA PrimeCare is responsible for a management portfolio of health care properties of 1.5 million square feet.
About HSA Commercial Real Estate:
Founded in 1981, Chicago-based HSA Commercial Real Estate is a diversified, full-service real estate firm specializing in office, industrial, and healthcare real estate leasing, management, marketing, development and financing on a national basis. Along with developing and acquiring more than 100 million square feet of commercial real estate across the United States, with a total consideration in excess of $6 billion, HSA Commercial Real Estate has represented owners and tenants in more than 10,000 transactions in 43 states; manages a property portfolio, including retail, in excess of 14 million square feet in locations across the nation; and owns more than 13 million square feet of commercial property throughout the country.