Jacobson Properties and Cushman & Wakefield/Pyramid Brokerage collaborate for $18.9 million sale

February 05, 2019 - Upstate New York
Lisa Menin,
Jacobson Properties

 

Leo Jones,
Cushman & Wakefield/Pyramid Brokerage Co.

 

Syracuse, NY Lisa Menin of Jacobson Properties and Leo Jones of Cushman & Wakefield/Pyramid Brokerage Co. (C&W/Pyramid), Binghamton, have completed the sale of Hill Medical Center. The sale price was $18.9 million.

The subject is an 81,859 s/f medical office building located on the downtown campus of SUNY Upstate University Hospital. Hill Medical Center was sold by Business Venture Associates Limited Partnership to a national private equity healthcare investor.

Hill Medical Center is 98.5% leased and is anchored by SUNY Upstate University Gastroenterology, Upstate Cancer Center Hematology/Oncology at the Hill, Upstate Cancer Center at Hill Radiation Oncology and St. Joseph’s Hospital Cardiology. The balance of the space is leased by several specialist physician groups.

Menin and Jones served as the exclusive advisors to the seller.

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