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, former BizTimes Milwaukee reporter.

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