Northmarq Brokers $2.4 Million Sale of Maryland Healthcare Property

Wenig-VisionInst

Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a medical facility located at 195 Thomas Johnson Drive in Frederick, Maryland. The 10,000-square-foot property is leased to Maryland Vision Institute. Northmarq’s Asher Wenig represented the buyer, an individual investor based in New York. The seller was a local partnership, and the property traded for approximately $2.4 million.

“In a 1031 exchange, my client purchased this asset at a healthy yield with strong escalations, below market rent and with a value-add component, as 5,000 square feet is currently not being utilized by the tenant,” said Wenig, Senior Director and Partner in Northmarq’s New York office. “Medical retail/office is a high-demand sector and will continue to garner interest from investors due to community demand and e-commerce resistance.”

The property is situated on nearly 1.1 acres and underwent a major renovation in 2016 to accommodate the medical practice. Maryland Vision Institute is part of the Vision Innovation Partners network, a leading provider of ophthalmology services in the Mid-Atlantic region. The business will continue to benefit from its superb location just off the primary north/south thoroughfare in the area.

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About Northmarq:

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.