Six-Building MedExpress Portfolio Changes Hands

PITTSBURGH, PA-Six single-tenant MedExpress Urgent Care health centers with 10-year leases in Pennsylvania, and another in West Virginia, were sold in a portfolio to National Retail Properties for $12.99 million, or $309 per square foot. Marcus & Millichap Real Estate Investment Services represented both the seller and buyer.

“The portfolio generated a lot of attention and interest from private and institutional investors,” says Paul Fedorko, an associate in M & M’s Pittsburgh office, who handled the transaction. “The strength of the medical office and single-tenant property sectors, combined with MedExpress’s unique and attractive business model, make these assets an especially attractive choice for long-term stabilized investment.”