Marcus & Millichap has facilitated the sale of a 5,000-square-foot medical office building, fully leased to Baylor Scott & White Institute for Rehabilitation in Farmers Branch, Texas. Senior Managing Directors Philip Levy and Vincent Knipp represented both parties—private investors—in the transaction.
Located at 13000 Josey Lane, the single-story building was completed in 2018. The outpatient clinic, which is the result of a joint venture between Baylor Scott & White Health and Select Medical, provides skilled physical therapy for sports injuries, post-surgical rehabilitation, general orthopedics and return-to-work rehabilitation.
The property is some 15 miles northwest of downtown Dallas and less than 2 miles west of the city center, within a dense commercial area. Dallas Medical Center is roughly 2 miles southeast, while Baylor Scott & White Medical Center Dallas is 16 miles southeast.
In November, a 49,000-square-foot medical building almost 50 percent leased to Baylor Scott & White Health traded in Plano, Texas. Healthcare Realty Trust Inc. paid more than $20 million for the asset.