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.
[caption id="attachment_372384" align="alignright" width="383"] The Howell Avenue Professional Building in Oak Creek.[/caption]
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.