HSA PrimeCare, the national healthcare real estate division of HSA Commercial Real Estate, recently announced the acquisition of a 16,513-square-foot medical office building located at 3040 N. 117th St., in Wauwatosa, Wis.
“With this acquisition, we continue to strategically grow HSA PrimeCare‘s portfolio with high-profile medical office buildings in visible, high-traffic locations,” said Jon Boley, senior vice president of acquisitions and development for HSA Commercial Real Estate and HSA PrimeCare. “We look forward to delivering the quality property management our firm is known for, as those services take on increased importance to both healthcare providers and the patients they serve.”
The building is currently 95% leased with about 800 square feet of leasable space. Tenants include Ascension Medical Group, which uses the location to provide a range of women’s health services, and Children’s Medical Group, which is owned by Children’s Wisconsin, one of the nation’s top children’s hospitals. Both tenants will remain in the location, where they have operated since the building opened in 2007.
3040 N. 117th St. is adjacent to the Interstate 41 / U.S. Route 45 interchange at Burleigh Street, just one exit north from the Milwaukee Regional Medical Center, and just 10 minutes from the main campus of Children’s Hospital. Planned improvements to the building include additional landscaping.
Staff and visitors to 3040 N. 117th St. have convenient access to nearby retail and restaurant offerings, including those at The Mayfair Collection, just northeast of the property. Developed and owned by HSA, the 69-acre mixed-use development features more than 400,000 square feet of retail anchored by Whole Foods Market and Nordstrom Rack, a 146-room Hilton Homewood Suites and 269 luxury apartments.
Tom Shepherd and Adam Connor of Colliers | Wisconsin Investment Services Team represented the sellers in the transaction.
In total, HSA PrimeCare has developed, leased and managed over 2 million square feet of medical office buildings across the Midwest, including several properties in the Milwaukee area. PrimeCare’s client roster includes healthcare industry giants as Advocate Health Care, Franciscan Health, Froedtert & the Medical College of Wisconsin, Loyola Medicine, UChicago Medicine, Rush, Saint Joseph Mercy Health System, Silver Cross Hospital, as well as many large independent physician practices.