{"id":1004121240,"date":"2015-06-15T20:10:06","date_gmt":"2015-06-16T04:10:06","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=352840"},"modified":"2020-04-29T22:29:54","modified_gmt":"2020-04-30T06:29:54","slug":"out-of-state-investor-buys-greater-baltimore-medical-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-buys-greater-baltimore-medical-office-building\/","title":{"rendered":"Out-of-State Investor Buys Greater Baltimore Medical Office Building"},"content":{"rendered":"

By Adrian Maties, Associate Editor<\/em><\/p>\n

An out-of-state investor purchased a medical office building in Greater Baltimore this month. The Empire Medical Building, in Anne Arundel County, traded for $18.65 million.<\/p>\n

Colliers International brokered the sale and represented the seller, Arundel Ventures. The company sold the medical office building to an affiliate of American Healthcare Investors. Irvine, California-based AHI specializes in the acquisition and management of healthcare-related real estate. It also hired Colliers to manage and lease the Empire Medical Building moving forward.<\/p>\n

AHI\u2019s new property was constructed in 1981, at 200 Hospital Drive, in Glen Burnie. The six-story building occupies a 2.95-acre site. It offers 75,718 square feet of space. According to PropertyShark<\/em><\/a>, Arundel Ventures took ownership of the Empire Medical Building in 1982. The same real estate website says that the property\u2019s current market value is about $12.7 million.<\/p>\n

In a news release, Colliers said that Arundel Ventures received multiple offers for the building. The commercial real estate services firm explained that, prior to the sale, it worked to stabilize the property\u2019s occupancy, in order to find a buyer. Colliers repositioned the building as one of the largest available medical spaces in Anne Arundel County and has attracted Chase Brexton Health Services. The addition of this new tenant brought the Empire Medical Building to near full occupancy, making it ready for sale.<\/p>\n","protected":false},"excerpt":{"rendered":"

An out-of-state investor has purchased a medical office building in Greater Baltimore this month. The Empire Medical Building, in Anne Arundel County, traded for $18.65 million.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21742],"tags":[],"class_list":["post-1004121240","post","type-post","status-publish","format-standard","hentry","category-baltimore","category-latest"],"acf":[],"yoast_head":"\nOut-of-State Investor Buys Greater Baltimore Medical Office Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-buys-greater-baltimore-medical-office-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Out-of-State Investor Buys Greater Baltimore Medical Office Building\" \/>\n<meta property=\"og:description\" content=\"An out-of-state investor has purchased a medical office building in Greater Baltimore this month. 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