Medical office building in Oak Creek sold to Chicago investment firm

21,000-square-foot building sold for $5 million

The Howell Avenue Professional Building in Oak Creek.

Last updated on May 15th, 2019 at 04:48 pm

The Howell Avenue Professional Building in Oak Creek has been sold to an affiliate of Chicago-based health care real estate investment firm Stage Equity Partners.

The Howell Avenue Professional Building in Oak Creek.

The roughly 21,000-square-foot medical and professional office building, located 8375 S. Howell Ave., was sold for $5 million, according to state records. MBH Investment Real Estate LLC listed the property on behalf of the seller, RW Howell LLC.

Built in 2007, with an addition in 2017, the two-story building is 91 percent occupied and anchored by Children’s Hospital of Wisconsin’s Oak Creek Pediatrics, according to a news release. Other tenants include Progressive Pediatric Dentists and Wasserman & Shuff Certified Public Accountants.

MBH principal Matson Holbrook brokered the transaction.

According to its website, Stage Equity Partners invests in Class A medical office buildings, outpatient facility and surgery centers in the price range between $5 million-25 million, between 10,000 and 150,000 square feet and up to 50 percent vacant.

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Alex Zank
Alex Zank covers commercial and residential real estate for BizTimes. Alex previously worked for Farm Equipment magazine and also covered statewide construction news at The Daily Reporter. He graduated from the University of Wisconsin-Eau Claire, where he studied journalism, political science and economics. Having grown up in rural western Wisconsin, Alex loves all things outdoors, including camping, hiking, four-wheeling and hunting.