Menomonee Falls health center sold for $68.9 million

Ryan Cos. sells building to Chicago-based investors

Last updated on May 15th, 2019 at 04:50 pm

A Chicago-based real estate investment firm has purchased the Froedtert Town Hall Health Center in Menomonee Falls from Ryan Cos. for $68.9 million, according to state records.

Minneapolis-based Ryan Cos. built the five-story medical clinic for Froedtert & the Medical College of Wisconsin in 2012.

Froedtert leases the space for primary care and specialty services and will continue to occupy the 145,000-square-foot building at W180 N 8000 Town Hall Road.

Ryan Cos. frequently builds medical office buildings and later sells them to a real estate holding company. Froedtert’s lease will continue and Ryan will continue as property manager, said Kathy Sieja, Froedtert spokeswoman.

HSRE Froedtert MOB, LLC purchased the property from Ryan X LLC on Aug. 31. The buyer’s LLC is registered to Harrison Street Real Estate Capital LLC, a real estate investment management firm.

Harrison Street manages approximately $15.6 billion in property assets, according to the company’s website. The company’s focus is education, health care and storage sectors.

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