Edina Medical Buildings Sold
Summerhill Commercial Real Estate, LLC is pleased to announce the sale of two (2) fully net leased medical office properties in Edina, MN on Monday November 2, 2020 for a combined total sale price of $5.3M. Andy Richards of Summerhill Commercial represented the Sellers of both properties, Edina Family Physicians Property, LLC and Drs JT Beecher and JA Rohde, and Ted Lee Westall of KW Commercial represented the Buyer, Edgewood Real Estate Investment Trust.
Both properties have long term leases in place, and they are located near one another in Edina MN just southwest of the intersection of Vernon Avenue South/50th Street West and Highway 100. 5301 Vernon Avenue South is a 9,462 square foot medical office building and it sold for $3.3M and 5203 Vernon Avenue South is a 4,519 square foot medical office building and it sold for $2.0M.
Andy was able to create this deal for his Seller client through his extensive industry contacts and because of his knowledge and understanding of investment grade commercial real estate in the marketplace, both on the Buyer and Seller side. Andy’s hard work, help, and advice on behalf of his client were important factors in getting this sales transaction successfully completed.