Marcus & Millichap sells 166,524-square-foot healthcare facility in Ohio

September 23, 2022

Marcus & Millichap closed the sale of the Cleveland Clinic Southpark Center, a 166,524-square-foot net-leased property in Strongsville, Ohio. The asset sold for $15.9 million.

Craig Fuller, Erin Patton and Scott Wiles, investment specialists in Marcus & Millichap’s Columbus and Cleveland offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer was a national REIT based in Ohio.

Cleveland Clinic Southpark Center is located at 16761 Southpark Center in Strongsville. The property sold above list price at a 4.95 percent cap rate and received multiple offers.

The buyer closed all-cash and the asset has just over six years remaining on the primary term.


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